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The real loss by gambling is $180,000 to the consumer economy for each slot machine

John Warren Kindt

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John Warren Kindt
Real
Slot
Consumer
Gambling
Consumers
Machine
Machines
Loss
Economy

More quotes by John Warren Kindt

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The common mistake that business people make is they're going to get drive-by business...Only gas stations are helped
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When governments legalize and encourage gambling, they are creating addictions among their citizens
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Studies in Australia have verified this drain on the economy by video gambling machines
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Gambling is being subsidized by the taxpayers
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Gambling has a zero-sum economic effect in its market and, like legalizing cocaine, the socio-economic costs of legalizing gambling overwhelm the benefits
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It is not economic development it's about taking money out of the consumer economy and shipping it off to Las Vegas
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You bring in gambling into a major population base, and the more people you have going into a casino, the more people you have hooked on gambling
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Taxpayers would likely be responsible for treating addicts
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Lotteries boost state revenues in the short run but don't feed the economy in the long run
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There would be economic disruption in Omaha from expanded gambling...You would just be moving Chernobyl closer to the population center
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The casinos are walking out of states with at least $1 billion in their pockets to Las Vegas
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No reputable economist anywhere believes it's gambling an economic tool
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The faster the gambling activity, the more highly addictive it is and the more addictive the gambling activity is, the more revenue it will generate for the industry
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People will spend a tremendous amount of money in casinos, money they normally would spend on refrigerators or a new car. Local businesses will suffer because they'll lose consumer dollars to casinos.
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Bankruptcies increase 18 percent to 42 percent above the national average
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The socio-economic impact of gambling addiction is comparable to drug and alcohol addiction
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Besides creating more compulsive gamblers, money spent on lotteries isn't spent on other goods such as clothing or computers, which would trickle through to retailers, manufacturers and other parts of the economy
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Gambling interests hire lots of economists to do impact studies, but what you need is cost-benefit analysis, and you'll never see the industry finance those
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$60,000 spent in a consumer economy multiplies by respending into $180,000
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An Osage tribal study found that between $41 million to $50 million left a 50-mile radius around their own casino
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