Revenues 50% Overstated

State after state overstates projected GAMBLING REVENUES.

Some, such as Massachusetts rely on EXPERTS bear no consequences for their flaws.

Blindly Accepting Overstated Projections




Perryville casino to cut 400 to 500 slots, cites new casino in Anne Arundel for drop-off
By Associated Press, Updated: Monday, August 6

ANNAPOLIS, Md. — Revenue at a casino in Perryville dropped by about 32 percent in July compared with the same time last year, the Maryland Lottery announced Monday, and the casino has indicated it wants to cut the number of slot machines by about one-third because of increased competition.
The announcement comes as lawmakers are set to convene in a special session on Thursday to consider expanding gambling to include table games like blackjack and a new casino site in Prince George’s County. Penn National Gaming Inc., which owns the Perryville casino, has expressed displeasure that National Harbor appears to be the favored spot for a new casino instead of Rosecroft Raceway, a venue it owns in the county.

“In gross gaming revenue terms, the state estimated that the Perryville site would generate $191 million annually,” Hayles wrote. “In reality, we are trending to generate $85 million annually, less than 50 percent off the state’s initial gross gaming revenue projections for this facility.”



http://www.washingtonpost.com/local/perryville-casino-to-cut-400-to-500-slots-cites-new-casino-in-anne-arundel-for-drop-off/2012/08/06/560b4bf8-e005-11e1-8d48-2b1243f34c85_story.html