ATLANTIC CITY, N.J. (AP) — Cash-starved states are increasingly being drawn to the lure of easy money in casinos — a bet that could ultimately hurt taxpayers if the supply outpaces customer demand.
The casino race is most frenzied in the Northeast, where there are 41 casinos and 20 more planned. Massachusetts, Maine, Maryland, Pennsylvania and New York as well as Ohio have either approved, added or are considering new gaming outlets.
The consequences of saturation could be debilitating. Companies are investing billions of dollars chasing ever-smaller slices of the gambling pie. Governments are banking on additional tax revenue from new casinos and gamblers’ winnings to help run operations and ward off tax hikes.
