They usually use the gambling revenue, not so much to support, it's usually used for a very specific purpose. Professor RICHARD MCGOWAN (Economics, Boston College Author, 'The Gambling Debate'): Well, Ohio just approved it in the last election.
Are more state and local governments turning to expanded gambling now as a source of new revenue? It's been widely reported, of course, that states and local governments are in fiscal trouble with the recession and the decline of tax revenues and pension funds that are stressed by weak investment portfolios. His latest book is called 'The Gambling Debate.' He spoke with FRESH AIR contributor Dave Davies.ĭAVE DAVIES: Well, Richard McGowan, welcome to FRESH AIR. We turned to Richard McGowan, an economics professor at Boston College who's studied and written about gambling for years. We wondered how the rush to gaming has worked out for the state and local governments that embraced it, especially since so many states are suffering serious budget crises these days. Forty states now permit some form of casino gambling.
Atlantic City legalized gambling in the late '70s, and since then, more and more state and local governments have gotten into the game, lured by the promise of new jobs and tax revenues. For decades, Las Vegas was the only place in the United States where casino gambling was legal.
