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The Negative Impacts Of Legalized Gambling On Businesses

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Title: The Negative Impacts Of Legalized Gambling On Businesses
Author(s): Kindt, John Warren
Subject(s): Gambling Businesses Economics
Abstract: Under good economic conditions, but particularly during recessionary periods, there is usually intense competition between states to attract new businesses. New businesses improve local and state economies by providing an influx of investment dollars, jobs, and new tax revenues. As states and municipalities attempted to boost economic growth during the recessionary U.S. economy of 1991-1992, the legalized gambling organizations in Nevada and in Atlantic City, New Jersey, saw the perfect opportunity to expand their organizations into previously unexploited regions. Notwithstanding contrary positions argued by legalized gambling interests in their efforts to gain and exploit new population bases, and with rare exceptions, legalized gambling activities do not generate long-term or even mid-term strategic economic development or tax revenues. Any profit generated by legalized gambling almost invariably comes from some consumer's pre-existing funds, and the resources devoted to gambling are taken from other activities. In fact, legalized gambling interests have both promoted and discouraged legalized gambling when necessary to further their objectives. In one instance, major legalized gambling organizations conducted public relations campaigns arguing that their casinos would create economic development, jobs, and tax revenues in Illinois. However, in order to undercut their competition in California and preserve their own gambling operations in Nevada, some of these same organizations simultaneously conducted public relations campaigns in California arguing just the opposite.
Issue Date: 1994-03
Publisher: University of Miami School of Law
Citation Info: John W. Kindt. "The Negative Impacts Of Legalized Gambling On Businesses." U. Miami Bus. L.J. 4(2): 93-124 (1994) (lead article)
Genre: Article
Type: Text
Language: English
URI: http://hdl.handle.net/2142/16302
Publication Status: published or submitted for publication
Peer Reviewed: is peer reviewed
Rights Information: Copyright (c) 1994 University of Miami School of Law
Date Available in IDEALS: 2010-05-24
 

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