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Casino Roulette

Casinos still seem to be popping up everywhere as seemingly desperate states pass enabling laws, looking to stimulate economic expansion in down-and-out areas or raise tax dollars—anything to overcome the effects of the lukewarm economy on revenue growth.

By Jonathan D. Miller | Updated on September 19, 2014

Casinos still seem to be popping up everywhere as seemingly desperate states pass enabling laws, looking to stimulate economic expansion in down-and-out areas or raise tax dollars—anything to overcome the effects of the lukewarm economy on revenue growth.

But this week we have more evidence that casino bets are turning into longer shots especially for older properties—it’s become a commodity business already in oversupply with increasing numbers of veteran operators in bankruptcy and shutting down unable to match the ersatz glitz of new competition.

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