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U.S. STATES CONSIDER GAMBLING FOR MORE REVENUES

The week started with an interesting article from Associated Press, which reports that as many as 14 U.S. states may be considering an expansion in gambling licenses to help plug widening gaps in state budgets.
 
It's a possibly easier out for state administrations faced with the choice of raising taxes at the worse possible time or cutting services and risk antagonising hard-pressed voters.
 
"Who wouldn't be interested if you're a politician who needs to fund programs?" Bo Bernhard, director of research at the International Gaming Institute at the University of Nevada, Las Vegas - a government-funded program told AP.  

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"While gambling has not been immune from the recession, it has held up relatively well compared with states' other revenue streams, such as income and sales taxes. This helps explain why past industry growth spurts have been preceded by economic downturns," the news agency noted, giving as an example Rhode Island, which opened America's first racetrack casino in 1992, and four states soon followed.
 
More recently, states faced with sagging revenues during the 2001 recession joined multistate lotteries such as Powerball and gave more leeway to Native American tribes seeking to expand their casinos.
 
Analysts told Associated Press that the latest round of gambling initiatives are noteworthy in volume and ambition - a sign that the industry aims to capitalise on states' badly bruised economies.
 
"From the gambling industry's point of view, this is their big chance," said Earl Grinols, an economics professor at Baylor University who specialises in gambling.
 
Ohio's casino advocates, including lobbyists working for Penn National Gambling Inc., are pushing a variety of large-scale development projects. In Georgia, a developer working with Dover Downs Inc., wants to transform a blighted section of downtown Atlanta with a 29-story hotel that would attract tourists with more than 5 500 video lottery terminals.
 
The developer pitching the $450 million Atlanta project, Dan O'Leary, estimates $300 million a year in revenues would be funneled to the state, helping to pay for a popular lottery-funded scholarship that provides in-state college tuition for students with "B" averages.
 
Even Hawaii, which along with Utah is one of two states without a lottery or other form of legalised gambling, may consider a change. Aides to Governor Linda Lingle, long an opponent of gambling, say she is open to discussing it as a way to close the state's growing budget gap.
 
Gambling in the USA is a $54 billion annual industry that employs more than 350 000 people, with most state gambling revenues coming from lotteries, racetracks and betting devices such as slot and video poker machines. Twelve states reap tax money from full-fledged casinos, and 23 others have casinos on Native American reservations, which generally do not pay taxes to states.
 
Opponents of gambling point to its dangers. "We've got gambling in 48 states, and you'd think if it worked, you wouldn't have budget problems or education problems," said Tom Gray, a field director for StopPredatoryGambling.org.
 
Many of the new gambling proposals seek to expand footholds in states that already allow limited gambling, AP reports, pointing to the state of Kentucky, where the House speaker had proposed allowing video gambling terminals at the state's racetracks, and to New Hampshire, New York and Texas where legislators are considering proposals this year to allow similar gambling terminals at their tracks. Casino advocates plan to push for casino-style gambling in hurricane-ravaged Galveston, Texas, as well.
 
Lawmakers in other states are talking about reversing hard-fought crusades to tighten restrictions on gambling. Nine years after South Carolina lawmakers outlawed video poker, state Senator Robert Ford is fighting to make it legal again. Since July, lawmakers have cut roughly $1 billion from the state's budget to address revenue shortfalls.
 
And in Ohio, where voters repeatedly have rejected ballot proposals to expand gambling, Governor Ted Strickland said he is willing to listen to proposals to help close a $7 billion shortfall in the next two-year budget.
 
The moves come despite indications that gambling, long considered to be almost recession-proof, has taken hits from the global economic slowdown. This has resulted in layoffs, declining revenues and falling stock prices impacting casino firms. State-run lotteries are faring better, though: More than half of the states with lotteries have reported rising sales over the past six months.



Gambling News :

Day 2 of the MPNPT Tallinn Main Event - Day 1b of the MPN Poker Tour 2017 Tallinn Main Event easily surpassed the tournament’s €150,000 guarantee on its own. Yesterday’s 416 entries brought the total number so far up to 522

Michael Myers is back in Halloween Slot Machine - Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.

Joe Fortune new Rewards Program - Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.

Day 1a MPN Poker Tour Tallinn Main Event - Day 1a brought 106 entries into the €550 Main Event, with nearly as many players turning out for the last €35 super satellite into tomorrow’s Day 1b

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

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