Monday, May 28, 2007

Nix Casinos

State Senator Dan Bosley gives a very credible economic argument against casinos over at Blue Mass Group.

A few details. Mass Lottery is among the most successful in the country, at $952 Million of revenues to towns. Connecticutt casinos only generate about $400 million, and the margin to the state for casinos is considerably slimmer than for the lottery, meaning about $7 of casino revenue would need to be generated for each $1 of lottery sales lost due to a casino.

As a math focused guy, I have to concur, if these numbers are close to correct. Mass Casinos would not create significant new state revenues.


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