State's Gamble on Casinos Not Paying Off

Gambling, which some Kansans saw as a golden goose for state revenue, is looking more and more like a horse that's been ridden hard and put away wet.

Those who supported legislation to build as many as four destination casinos in Kansas touted the industry as virtually a guaranteed money maker for the state.

And until recently, it was hard to argue with them.

After all, the book on gambling was that it was recession-proof. While an economic downturn might cause consumers to scale back spending on new cars, furniture and other items, the thinking went, they would keep gambling under the justification that they deserved to wager a few dollars as a tradeoff for having to deprive themselves of other purchases.

Increasingly, though, it's looking like the state placed a long-odds bet when it turned to the casino business as a source of revenue.

For the complete story, please see The Capital-Journal Editorial Board, State's wager on casinos to generate infusion of revenue is looking more like a bad bet, The Topeka Capital-Journal, November 20, 2008.