Monday, June 30, 2014

Casino Affect To Your Community

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PBS (Public Broadcast System) WGBH in Boston had reported on the financial aspects of casino gambling.   The segment was based on the “The National Impact of Casino Gambling Proliferation: Hearing Before the House Committee on Small Business, 103rd. Congress, 2nd. Session 77 (1994).  There is also a lot that can be added to another report by Professor John Warren Kindt, of the University of Illinois at Urbana-Champaign who wrote "The Business-Economic Impacts of Licensed Casino Gambling in West Virginia: Short-Term Gain but Long-Term Pain”.  

Following the American Civil War up through 1910, there was legalized gambling in the United States.   By 1910 there was essentially no legal gambling in the United States.   The restriction of legal gambling was put in most state constitutions.    It has been determined by 1910 that legalized gambling eventually causes the following:

1. Increased taxes
2. Loss of jobs in region
3. Economic disruption of businesses
4. Increased Crime
5. Social Welfare costs.

This is what is feared in Massachusetts and currently exists locally in Connecticut around Foxwoods and Mohegan Sun.

In our recent economic history, the activities of legal gambling has been subsidized by in one form or another by the tax payer.  The costs are found in.

(1) infrastructure costs,
(2) relatively high regulatory costs,
(3) expenses to the criminal justice system,
(4) large social-welfare costs

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