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Expanded Gambling Won't Be a Windfall: Silver

By Kevin Spak,  Newser Staff

Posted Sep 21, 2009 1:29 PM CDT

(Newser) – The many states hoping gambling will revive their troubled budgets are in for an unpleasant surprise, writes Nate Silver for Esquire. Gambling is supposed to be recession-proof, but that hasn’t been the case this time. "The year 2008 was the first time in history that total casino gaming revenues declined throughout the United States," writes Silver, of FiveThirtyEight.com fame. In Las Vegas, they were down a whopping 12%, and they’ve fallen another 15% this year.

From Delaware to California to Pennsylvania, gambling laws are easing. But in 17 of the top 20 metropolitan areas, a casino is already within three hours by car: "Just about everyone who wants to gamble in the United States is already a morning's drive away from being able to do so," Silver writes. New facilities may simply leach gamblers from neighboring states. Some may find low-end customers—Vegas’ recent focus on high rollers has cost it dearly—but no one should expect a jackpot.

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 June 4, 2009 photo, Suzanne Dostal, of Carlisle, Iowa, plays a slot machine at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.
In this June 4, 2009 photo, Suzanne Dostal, of Carlisle, Iowa, plays a slot machine at the Prairie Meadows Racetrack and Casino in Altoona, Iowa.   (AP Photo/Charlie Neibergall)
The facade of a Casino is seen at night on Las Vegas Boulevard on September 17 in Las Vegas.
The facade of a Casino is seen at night on Las Vegas Boulevard on September 17 in Las Vegas.   (Getty Images)
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As someone who has spent more than a few hours at the blackjack table, I have absolutely no business telling states they shouldn't open more casinos. But they're not likely to find a lot of
money there. - Nate Silver

With all due respect to Philadelphia, tourists aren't likely to flock there once they can play slots. - Nate Silver

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COMMENTS
Showing 2 of 2 comments
Snarfeh
Sep 22, 2009 3:32 AM CDT
..and on Wall St. Don't forget the gambling that goes on there....
Spudsy
Sep 21, 2009 11:00 AM CDT
Other problems always follow gambling into a community. Other than horse racing, gambling should just stay in Vegas and Atlantic City.

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