More
is not always better than less.
It
doesn't take a business major or rocket scientist to realize that
there is a finite number of potential gambling establishment patrons.
When the same number of gamblers are offered an increasing number of
venues the revenue pie will be sliced in ever smaller pieces. At some
point many establishment will not make enough profit to remain in
operation. States that hoped to reap tax revenues form gambling are
seeing this phenomenon at work now.
On
point:
ATLANTIC
CITY — Atlantic City’s crumbling casino market disintegrated even
further on Saturday as the owners of the Trump Plaza casino said they
expect to shut down in mid-September.
Notices
warning employees of the expected closing will go out to the casino’s
1,000-plus employees on Monday. If Trump Plaza closes, Atlantic City
could lose a third of its casinos and a quarter of its casino work
force in less than nine months.Indiana
casinos lose millions to Ohio competitors State
officials were betting that Indiana gaming revenues would take a
major hit when a downtown Cincinnati casino and two racinos opened
in Ohio last year. And they were right. But more competition is
headed their way from Illinois, Kentucky and Michigan. Competition
has changed the game forever.
Indiana casinos lose millions to Ohio competitors State officials were betting that Indiana gaming revenues would take a major hit when a downtown Cincinnati casino and two racinos opened in Ohio last year. And they were right. But more competition is headed their way from Illinois, Kentucky and Michigan. Competition has changed the game forever.
CLEVELAND
(AP) -- Declining casino revenue has cut into the take for local
governments, and now the growth of racetrack slots gambling is
diverting some of that money from cities and counties
The
industry is taken a hit across the nation as indicated by a Moody’s
Investors Service latest report on gambling — downgrading
the
national gambling business from “stable” to “negative.
Paul
Hunter paulhunter45177@gmail.com
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