Even though the American Gaming Association recently stated that gambling revenues were down 5.5% last year, a growing number of state and city governments are looking at casinos and gambling as a way to spur economic growth during this not exactly golden age.
Here in New York City they’ve just approved a plan to install 4,500 slot machines at the Aqueduct Race Track. The city and state are hopeful this will keep New Yorkers from traveling to New Jersey, Pennsylvania or Connecticut to get their gamble on. Genting, the Malaysia-based company behind the proposal, is eventually hoping they’ll be able to add table games to the slots.
Speaking of New Jersey, there is much debate in the Garden State over whether or not to expand legalized gambling beyond the limits of Atlantic City. There are those who want to develop a casino at the Meadowlands complex in the north part of the state, hoping to take advantage of the dense population of the NYC metro area. Then there are people like Donald Trump who believe that having casinos outside of Atlantic City would only serve to destroy the beachfront gambling destination.
But the bigger question is whether or not legalized gambling is a good idea. And what would happen to places like Las Vegas or Atlantic City if casinos were in every town?
N.J. split widens over gambling [Philadelphia Inquirer]