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CCA News - Wednesday August 12, 2009

 

NEVADA ECONOMY: Gaming revenue at 2004 level

lvrj.com - August 12, 2009

Nevada's monthly gaming revenues have sunk to levels not seen since 2004.

Harrah's considers race track for casino

the-news-leader.com - August 12, 2009

Now that Ohio has decided to allow expanded gambling at seven horse racing tracks, a major casino operator has expressed interest in operations in Ohio -- specifically, in the village.

Ohio needs open casino gambling

cantonrep.com - August 12, 2009

Slot machines in the existing horse racetracks are not the best answer to gambling in Ohio, but at least they are a start. The best approach would be an open public bid for the best casino development proposals that would result in maximum return in investment and jobs for Ohio. But at least this is a start.

Decision on Erie County slots revenue plan upheld

philly.com - August 12, 2009

A Commonwealth Court judge has upheld a lower court decision saying Erie County government officials cannot distribute half of the slot machine revenue the county receives any way they want.

Pittsburgh casino's opening day 3rd biggest in Pa.

whptv.com - August 12, 2009

Pittsburgh's new slot machine casino had the third busiest opening day of any of Pennsylvania's new gambling halls.

Lawmakers gearing up for gambling fight

milforddailynews.com - August 12, 2009

As another legislative battle over gambling looms this fall, Massachusetts lawmakers are working to separate the fact from fiction around gaming’s revenues and social costs, while well-financed casino developers hire lobbyists and set their sights on the Bay State.

 

 

 


Volume 6 Issue 3:  April 2008

In this issue we look again at the Massachusetts casino debate and review the concepts of substitution effects and market saturation.

 

In Massachusetts Studies Proliferate as the Casino Debate Grinds On

The Massachusetts debate is on the back burner for the time being, but in this issue we compare some of our back of the envelope estimates to others in the public domain.

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Substitution Effects and Market Saturation

"This substitution effect is a staple of casino studies, which is unfortunate because it is a half-truth and consequently misleading.  All economic activity causes substitution effects.  Automobiles caused wholesale substitution effects in transportation, with devastating consequences for makers of horse-drawn conveyances and buggy whips.  But demand for automobiles also called automobile factories into being, along with paved roads and, ultimately, Federal interstate highways, an investment even larger than the factories producing automobiles.  Whether the changes wrought by the automobile were good or bad for society is a debatable question, but it would be absolutely wrong to say the internal combustion engine reduced net savings or in any measurable sense caused a reduction in wealth."

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