University of Illinois Urbana-Champaign

The Negative Impacts Of Legalized Gambling On Businesses

Kindt, John Warren

Content Files
U_Miami_Neg_Impacts_Gamb_Business.pdf

Permalink

https://hdl.handle.net/2142/16302

Description

Title
The Negative Impacts Of Legalized Gambling On Businesses
Author(s)
Kindt, John Warren
Issue Date
1994-03
Keyword(s)
  • Gambling
  • Businesses
  • Economics
Date of Ingest
2010-05-24T18:28:01Z
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.
Publisher
University of Miami School of Law
Type of Resource
text
Genre of Resource
Article
Language
en
Permalink
http://hdl.handle.net/2142/16302
Copyright and License Information
Copyright (c) 1994 University of Miami School of Law

Owning Collections

Gambling and Gaming Research PRIMARY