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Gambling Revenue Skepticism Proper

February 7, 2013

Ohio officials will hedge their bets on state revenue from casino gambling, Gov. John Kasich revealed this week....

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Feb-08-13 11:39 AM

You may want to see what Michigan's projections were, versus what they have actually collected. Detroit has three, and one has already been through the bankruptcy court. Net benefit to most states is negative, because unlike manufacturing, gambling is a nearly zero benefit business. No one will travel to Ohio from Kansas or Wyoming to gamble, so it's local money in, local money out, and the profits will leave the state. Only benefit, if you want to consider it a benefit, is another revenue stream for the Feds and Ohio to tax.

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