This Time Magazine cover story investigates the levels of fraud, corruption and intimidation in America’s Indian casinos. The writers also highlight that the tribes’ “secrecy about financial affairs – and the complicity of government oversight agencies – has guaranteed that abuses in Indian country growing out of the surge in gambling riches go undetected, unreported and unprosecuted.”
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Slot Machines Largely Responsible for Racing’s Continuing Decline
The long-term trends show the ontrack handle at racino racetracks has declined, a direct result of putting slot machines and table games in the building. Says one racing official quoted in the article below from The Daily Racing Form, one of horse racing’s dominant media outlets: “The racing industry has far more competition now, and a lot of it is right at the racetrack’s doorstep.”
Columbia Journalism Review urges journalists to be skeptical on gambling proposals amid the glitz
The Columbia Journalism Review examines how journalists should cover the expansion of predatory gambling – “…gambling needs to be covered like other economic development proposals – glitz and hype notwithstanding. Journalists should not forget that they may be the only ones able to cast a skeptical eye on plans to expand legalized gambling in their community.”
Future Growth in Gambling Revenue Will Not Keep Pace With Tax Revenue or Spending
The slides below are from a presentation by the Rockefeller Institute of Government at the 2009 Stop Predatory Gambling Foundation Conference. It outlines recent national trends in gambling revenue, growth in gambling revenue compared to growth in tax revenue and expenditures, and points for consideration by policymakers.
Rockefeller Institute – Trends in Gambling Revenue to the States
Self-Exclusion Lists Serve to Exclude Public Scrutiny of the Casino Business Model
Self-exclusion lists are another public relations ploy by predatory gambling interests to create a public impression they are care about the addicts they create and exploit. Because these out-of-control gamblers are so lucrative, it can be hard for casinos to pull themselves off of them. Mt. Airy Casino in Pennsylvania was the latest casino to get caught when it sent six targeted mailings over the course of 2 months to a gambling addict on the state’s self-exclusion list. In addition, the casino allowed other addicts on the self-exclusion list to gamble at the casino and even cash checks there on five separate occasions.
Self-Exclusion List Violations Lead to $40,000 Fine for Pennsylvania Casino
Poor People Spend 9% of Income on Lottery Tickets
This blog post from WalletPop.com outlines the reasons why people on low-incomes spend so much on lottery tickets: the hype about big jackpots, the ritual of playing and the fact that many people believe that playing the lottery is best way to achieve financial security.
Even The Casinos Call the Lottery Bad Policy
This story from the Seattle Times discusses how casino companies are fighting the introduction of a state lottery in Nevada. They call the lottery a regressive tax on the poor because they spend a higher proportion of their income on lotteries.
Lottery Advocates, Opponents to Face Off Again in Nevada Legislature
Casinos in Their Own Words About Other Casinos
This Oregonian article describes how predatory gambling interests, in an effort to stop the development of rival casino projects, highlight the truth about how casinos destroy families and raise the crime rate in the community.
From Rags to Riches to Rags
This article from the Tampa Tribune tells the story of Rhoda Toth, whose life was transformed by winning a $13 million lottery jackpot. She went from meeting Donald Trump and building a $92,000 swimming pool for herself to serving time in federal prison and living in a mobile home. Looking back at the day she won the lottery, Toth recalls: “It was my worst day.”
Jackpot Winners Just as Likely to Go Bust
This article from Yahoo! Finance explores the fact that for financially troubled consumers, the size of a lottery jackpot may not matter: Five years out, people who win $150,000 are just as likely to declare bankruptcy as those who win less than $10,000.