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For every slot machine you add, you lose one job per year from the consumer economy

John Warren Kindt

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John Warren Kindt
Years
Add
Machines
Lose
Loses
Slot
Economy
Consumer
Year
Gambling
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Consumers
Every
Machine

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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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If gambling were banned, those social costs would drop, tax revenues from consumer goods would increase, and money would be pumped into the productive economic sector
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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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My bottom line is this is no time to be gambling with our economy
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Actually, they should just roll it all back get rid of gambling...It destabilizes the U.S. economy
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A study in Illinois in the mid-1990s found that 65 percent of businesses were hurt by the proximity of gambling
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Taxpayers would likely be responsible for treating addicts
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And as far as jobs go, for every one job that the casino creates, one is lost in the 35-mile feeder market
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The real loss by gambling is $180,000 to the consumer economy for each slot machine
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Movies and Disney World don't create addicts
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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 is a catalyst for economic downturn
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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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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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Lotteries boost state revenues in the short run but don't feed the economy in the long run
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Therefore 5,000 new video gambling machines costs the economy 5,000 lost jobs each year
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If you want your 401k to come back, recriminalize gambling
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When governments legalize and encourage gambling, they are creating addictions among their citizens
John Warren Kindt
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It's lose, lose for the taxpayer
John Warren Kindt