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Tuesday, February 17, 2015

Maryland Casinos Revenues Come In Below Forecasts

BALTIMORE, Md. (AP/WJZ) — Can Maryland casinos exceed the financial success the state originally planned? For anyone betting on the Northeast’s casino bonanza, the odds are long on projects hitting financial expectations.

In the last several states to open casinos — Maryland, Ohio and Pennsylvania — overall revenue is coming in below baseline forecasts, according to a review of state tax data. Officials blame miscalculations of spending habits and competition, but some also question how much the projected numbers reflected wishful thinking.

The casino industry has grown exponentially over the last decade as revenue-hungry states have moved to claim business that once went across state lines to Atlantic City, NJ, or the tribal-owned megaresorts in Connecticut. After Nevada, Pennsylvania has emerged as the country’s No. 2 gambling marketing, overtaking Atlantic City, where four of 12 casinos closed last year.

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5 comments:

  1. AnonymousFebruary 17, 2015 at 12:30 PM

    Gubmint wants YOU to gamble more!

    ReplyDelete
  2. AnonymousFebruary 17, 2015 at 12:57 PM

    Hope they all fail. Casinos only prey on the poor. Economy can't survive on false hopes and no jobs.

    ReplyDelete
  3. AnonymousFebruary 17, 2015 at 1:08 PM

    Casinos are an invaluable tool for justifying spending levels. All you do is add up you spend budge, figure out what you are short, and ESTIMATE you casino revenue to make up the difference. Bingo!

    ReplyDelete
  4. AnonymousFebruary 17, 2015 at 1:29 PM

    Money slowly down the drains. Why would Maryland want to be like Delaware god knows. Time for real income that's guaranteed. Weed!

    ReplyDelete
  5. AnonymousFebruary 17, 2015 at 2:26 PM

    Going to be like Delaware,soon taxpayers are going to pay millions to keep them open.

    ReplyDelete

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