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States Lose Shirts as Gamblers Cut Back

By Kevin Spak,  Newser Staff

Posted Aug 10, 2009 8:13 AM CDT

(Newser) – Every state but Utah and Hawaii allows some form of legal gambling, and most have come to rely on it as a growing source of revenue. Unfortunately, a lot fewer people are hitting the slots or buying lotto tickets these days, the Wall Street Journal reports. Commercial casinos produced 2.2% less revenue last year, falling in eight of the 12 states that allow them.

Nevada, which relies on gambling for 30% of its funds, saw that revenue fall 15%. Lotteries are being hit, too; in a sample of 20 states, 14 saw year-over-year lotto declines in 2008. “States can no longer count on gambling when it comes to closing budget gaps,” said one analyst.  The reason, according to one casino president: “People are afraid. Their wealth in their mind has changed.”

In this June 4, 2009 photo, patrons play slot machines at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.
In this June 4, 2009 photo, patrons play slot machines at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.   (AP Photo/Charlie Neibergall)
in this June 4, 2009 photo, a patron plays a slot machine at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.
in this June 4, 2009 photo, a patron plays a slot machine at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.   (AP Photo/Charlie Neibergall)
In this May 13, 2009 photo, a detail of a slot machines is seen on the floor of Sands Casino Resort Bethlehem, in Bethlehem, Pa.
In this May 13, 2009 photo, a detail of a slot machines is seen on the floor of Sands Casino Resort Bethlehem, in Bethlehem, Pa.   (AP Photo/Carolyn Kaster)
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COMMENTS
Showing 2 of 2 comments
memphibian
Aug 10, 2009 1:56 AM CDT
Silly story. Every source of taxation has withered. We make less, we buy less, we transfer deeds less, we buy less porn, less whiskey, less hair products.. But government can't get its head around this concept.
Timinator2K
Aug 10, 2009 1:19 AM CDT
You can't lose if you don't play. Gambling, a luxury past-time, who knew?

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