Friday, September 15th, 2017

now browsing by day

 
Posted by: | Posted on: September 15, 2017

Slot Machines May Be the Death of the Lottery

Slot machine gambling is seen as the only source of new revenue that could support property tax reform even as observers note that once slots are jumpstarted, the game is very likely to slash the earnings currently being made by the state lottery.

The AP has noted that in Illinois, Iowa and Michigan, lottery revenues dropped for many years after casinos were opened. Lottery earnings only climbed back up after lotteries expanded their offerings.

Still, some Pennsylvania revenue officials maintain that there are different folks for different games so the slots being opened might have only a slight or negligible effect on the lottery.

Analysts are calling on the officials to play the market very carefully as revenues from lotteries and slots are allocated for separate beneficiaries.

While lottery sales are for senior citizen programs, slots revenues are for public education. The other game’s loss may be another game’s gain, but beneficiaries can be gravely affected.

Hence, Pennsylvania gaming authorities are being asked by the analysts to consider what other states have done – increase the promotion of the old game to coincide with the introduction of the new one so the market of the old game will stay, without sacrificing the market of the new game, which could promote for itself by merely being a new offering.