Gambling offers local government an additional source of revenue, which can be used to fund a wide range of state programs. As the economic climate continues to worsen across America, individual states are looking at the option of expanding their land-based gambling markets in order to generate much-needed revenue.
The biggest developments seem to be taking place in Florida and New York. In Florida, state senate has approved the construction of 3 new casinos. One casino could possibly be built in Miami, the state’s busiest tourist destination. In New York, Governor Andrew Cuomo has proposed an expansion of the aqueduct casino in Queens, in addition to amendment that would allow casino gambling throughout New York.
These developments present a significant threat to Las Vegas, the country’s gambling capital. Should local states continue to invest more money into their gambling markets, fewer tourists will make Las Vegas a destination. This is bad news for the city, as Las Vegas has yet to recover from the recent economic crisis and is still struggling to recover tourism and gambling revenue.