Posted previously --
What’s the big hurry?
The number of jobs the proposed legislation would create has been wildly exaggerated. We are told that two casinos and four racinos will net about 16,000 construction and permanent jobs. But in Indiana it takes 10 riverboats, one casino and two racinos to generate 16,000 current jobs and Louisiana requires 18 casinos to employ 17,268, according to the American Gaming Association.
Michigan’s three casinos net 8,568 permanent jobs and New Mexico’s five racinos employ less than 2,000 people.
In Las Vegas, it takes 266 casinos to bring in $11.6 billion in gross revenue, which translates into $924 million in tax revenue. Even the $300 million to $600 million now estimated here is a stretch based on that data.
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