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US States Desperate For Cash Consider Gambling
The Wall Street Journal examines the drive to expand [land] gambling in a number of US states desperate for new sources of revenue in the tough economic times in the United States. In the article, the WSJ reports that at least a half-dozen states are weighing whether to expand gambling opportunities, as longtime proponents of slot machines, video poker and casinos seize upon the recession to promote gambling receipts as a quick-and-easy solution to budget woes.
"The proposals, most still in the early stages, include a Maryland bill that would put 3 000 slot machines in airport terminals, efforts in Kentucky and Nebraska to allow slot machines at racetracks and a proposal in Illinois to allow lottery tickets to be sold online," the article informs.
"Perhaps the most far-reaching campaign is in Texas, where pro-gambling lawmakers are pushing for 12 new Las Vegas-style casinos, one in every major city across the state. Other bills circulating in Austin would allow casino gambling on tribal lands and slot machines at horse and greyhound race tracks," it continues.
The well-researched article goes on to examine the funding implications, especially in a recession where even major land gambling companies have been shown not to be recession-proof. It also examines the inflated revenue projections presented by some politicians trying to get approval for land gambling expansion.
Suzii Paynter, who directs the public-policy arm of the Baptist General Convention of Texas, dismissed over-optimistic projections of gambling revenue as "billionitis." She recently emphasised that the state of Texas had been built on tourism, and that new land casino ventures - assuming the money could even be found to fund these - could cannibalise tourism revenues from more wholesome and natural attractions in the Lone Star state.
"We built our state on family-friendly tourism," Ms. Paynter said. "And we have a saying in Texas: "Dance with who brung ya."
Intriguingly, the article does not include the highly professional estimates recently released by the internationally respected accounting group PricewaterhouseCoopers, projecting up to $52 billion tax potential over the next few years if Internet gambling were to be licensed, regulated and taxed in the United States.
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Gambling News :
Local Florida Poker Pros Scam Marc Klang For $500k -
Previous scumbag rightfully wins over $500,000 gambling against a conglomerate of local poker pros. After using every excuse possible, said group decides they are not paying out any money. After some time they pay out $43k of 500k. Winner warns community of the groups actions to prevent similar future scams.
Super Multitimes Progressive HD Slot -
This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.
2017 Aussie Milliona Updates Events 2,3,4 -
Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.
Juventus name VWin as Partner -
“We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.
Luckia Group 2016 Results -
The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.
Fire Rooster Slot Launches -
This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.
n2-Live Updates -
The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”
Betfred FY 2016 -
Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.
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