Chapter 3: The Segments of the Casino Industry: From Gambling Den to Mega-Resort
3. The segments of the casino industry: From gambling den to mega-resort INTRODUCTION Not long ago, to experience the allure of casino gambling in the United States one was required to make a trip to one of two (typically) distant locations – Las Vegas or Atlantic City. Over the past decade, however, this situation has changed drastically. With the increasing social acceptance of gambling, new locations for casino gambling have emerged across the nation, bringing this controversial attraction to nearly every region of the country. Not surprisingly, the competitive pressures that have resulted are placing considerable strain on America’s traditional locations for casino gambling. Another reason given for much of the growth in the gaming industry is the dire economic condition of some states in the early 1990s. States needed new revenues at a time when the public was unwilling to accept new tax measures. Drastically cutting state services was not a politically feasible option, either. State and local governments turned more and more to gaming in an effort to increase revenues. Lotteries had been the most public form of gambling, but a growing number of states and local governments resorted to casino gambling in order to raise money without having to do the politically unpopular act of raising taxes. In 1999, well over three hundred million tax dollars were paid to New Jersey by the gaming industry (Atlantic City Information Guide). Additionally, gaming would create more jobs and help reduce the rate of unemployment in economically depressed states. A phenomenon...
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