Increases in the bankruptcy rate during the past decade along
with growth of the gaming industry have led some critics of
the industry to raise questions about a possible link between
the two.
Recent government studies, as well as national statistics, have
disproved their theories.
The U.S. Department of the Treasury investigated this issue
at the request of the U.S. Congress and
The gaming industry is a driving force in the U.S. economy,
creating more than 1 million jobs nationwide.
While there are many ways to gauge the size of any industry—by
the number of employees, the output of products, tax receipts
or customer count—the most common comparison is by gross
revenues, or sales.
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IIn 1976, the citizens of New Jersey voted to legalize casino
gambling in Atlantic City. It's instructive to compare the promises
made during that campaign to the actual benefits seen in the
state 25 years later.
The commercial casino industry, like any other industry, participates
in the political process in a variety of ways, including donating
money to candidates for political office.
In the 11 states with commercial casinos in operation in 2000,
casinos contributed more than $3.3 billion in tax revenue to
state and local governments. The tax rate for the casino industry
ranges from a low of 6.25 percent in Nevada to a high of 35
percent in Illinois.
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