The New York Times has posted a rather stark article detailing the lingering effects of the economic downturn across America. Simply put, state governments have run out of fat to cut from their budgets, and unless new revenue sources are identified, the next cuts will be more akin to amputations. Ultimately, the potential tax revenue from legal online gaming will prove too tempting to ignore.
The process will take longer than some overeager optimists in our industry are predicting, and will likely be rolled out piecemeal, state by state, rather than at the federal level. And sports betting will still be excluded, with the possible exception of some kind of intrastate setup in Nevada. But when state governments start telling parents not to send their kids to school on Fridays because there’s no money to keep the joint open five days a week, you can be sure that changes are in the works. Read more.