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Saturday, March 16, 2013

Government's Gambling Addiction: Sucking the Economy Dry

They promise to pave the streets with gold!



They promise outrageous and painless revenues and clearly exaggerate low wage jobs numbers that any reasonable person can disprove.

And yet.....too many believe!

When the Predatory Industry saturates the markets, they whine for TAX CUTS and blame it on the neighbors.

Somehow, Massachusetts officials have convinced themselves 'We'll be different!' but we won't.

Chairman Crosby has hallucinated that Massachusetts can overcome the economic destruction experienced around the country and around the globe.



And then the revenues decline as the supply of local Gambling Addicts is exhausted.....and they have convinced themselves that preying on others is sound fiscal policy.


Slot machine revenue in drops 9% in February, including at Mt. Airy
PoconoNews.net
According to the report, this February's gross revenue at the eleven operating casinos from slot machine play was $195,945,210 compared to $215,687,739 of gross revenue in February 2012. Tax revenue generated in February of this year just from slot ...

Atlantic City casino revenue down 12.5 pct in Feb
Huffington Post
Revel, the city's newest casino which will file a Chapter 11 bankruptcy petition this month, saw revenue rise to $9 million, up from $7.9 million in January. February is traditionally one of the slowest months of the year in Atlantic City. The state is ...

Nevada gaming revenues fall 12.4 percent in January
Casino City Times
LAS VEGAS -- Gaming revenues in January fell 12.4 percent statewide and 18.7 percent on the Strip based on a challenging comparison to figures produced by Nevada's resort industry a year ago. The Nevada State Gaming Control Board Gaming ...

Nevada Casino Revenue Falls 12.4% To $909m in January
Online Poker.net
Nevada Casino Revenue Falls 12.4% To $909m in January On Friday, The Nevada Gaming Commission released its casino figures for January revealing a 12.4% fall in revenue to $909.2 million. January's results were significantly down on the $1.038 billion ...
Critics of Christie's Online Gaming Revenue Boost: 'It's a Long Shot'
newjerseynewsroom.com
Observers are saying that Governor Christie is being overly optimistic in his predictions for revenue to be gained from new online betting laws. Atlantic City's casino revenues have fallen for six straight years, and Christie is counting on the new law ...

Indiana casinos visitors, revenue down in February
Business First of Louisville (blog)
Horseshoe Casino raised the stakes with a new $400 million Cincinnati facility, so the Indiana Gaming Commission's most recent monthly revenue report comes as little surprise: Fewer people visited in February, and revenues were down substantially.

Lawmakers considering extra gambling options
Joliet Herald News
Since video gambling started in the fall, casino revenues have fallen in Illlinois. But Swoik said he found it hard to believe that poker machines at neigborhood taverns have been cutting into the casino business. The casino industry did not oppose ...

Atlantic City casino revenue down 12.5 pct in Feb
But Revel, the city's newest casino which will file a Chapter 11 bankruptcy petition this month, saw revenue rise to $9 million, up from $7.9 million in January .

Detroit casino revenues fall $17.5M in February
The Detroit News
Greektown Casino revenue plummeted 18.4 percent to $26.6 million. MGM Grand Detroit revenue dropped 13.1 percent to $46.5 million in February. MotorCity Casino revenue declined 10.8 percent to $38.3 million. Gaming taxes for the three Detroit casinos ...

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