Recently I posted (ranted?) about the state’s ban on ‘skill games’– coming out against the ban because I have yet to hear even one good reason why the state should ban these machines.
Well today I read about one great reason why we SHOULD NOT ban these machines: MONEY.
Specifically, the huge revenue potential for the state that slot-machines offer. And by huge- I mean HUGE… like BILLIONS OF DOLLARS.
Don’t believe me? Just ask Pennsylvania:
Revenue from Pennsylvania’s fledgling slot-machine gambling industry has surpassed the $1 billion mark, three years after the state legalized the devices as a way to cut taxes and inject new life into its equine industry.
Through midnight Wednesday, the state had collected $1,001,248,572, according to the Pennsylvania Gaming Control Board.
Of the $1 billion, more than half, or $550 million, came from the licensing fees that each of the 11 licensees have paid. The rest came from the state’s 55 percent cut of the revenues from the 10,130 slot machines at the five casinos now operating.