Gaming and Blackjack Expanded to Fix Budgets
Many states across the country are experiencing a drop in their gambling revenue along with massive budget deficits that they need to fix sometime soon. Almost every state is slashing costs, jobs, and forcing workers to take unpaid furlough days to help save some money and get rid of some of their debt. One way that these states are reducing debt is to rely on gambling revenue. States that have seen a decline in gambling revenue are considering new lottery options, are adding new games, and are also considering new casinos. Why new casinos, especially in states with more than 10 already established? The answer is simple; more casinos means more jobs and more workers means more people paying taxes.
There are close to 18 states applying for an expansion of games because of budget deficits, citing that they are losing anywhere between 5 to 14 percent of the money they usually collect from gambling, horse racing, lotteries, and casinos. Iowa state representative Kraig Paulsen, the House Republican leader, had the following to say about the situation across the country:
“Absolutely, we’re addicted to gambling dollars. The current budget couldn’t be close to being balanced without that money.”
There have been gambling jobs added to the workforce over the past couple of years for the sole purpose of making more money for the states across the country. These workers include table game dealers, casino floor operators, and other members of the staff. Pennsylvania has inserted 25,000 slot machines over the past two years at its casinos. Pennsylvania casinos are also allowed to operate table games such as blackjack, poker, craps, and roulette. There are 4,500 video lottery terminals being placed at the Aqueduct Racetrack in Queens by the state of New York. In Connecticut, the governor wants to allow people to play Keno while they are eating in public restaurants.
According to statistics, non-Indian casinos across the country have seen their revenue drop 5.6 percent from 2008 to 2009 after a drop in 2007 as well. Casino revenue stood at $34 billion in 2007 but has fallen to $30.7 billion in only a few short years. The formulas are not available to the public, but each state typically gets a percentage of the revenue brought in by the casinos in their individual state. Illinois suffered through a 14.6 percent decline in its gambling revenue from 2008 to 2009 and New Hampshire suffered through a 9.7 percent decline in its gambling revenue during the same time frame.
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