If you look at the changes going on in the market you are going to see how many state legislators are pushing for gambling increases. A good gambling plan can easily bring in millions of dollars every month to a state in tax revenue dollars. This is something that all states could use nowadays too. The recession caused economies to come this-short of crumbling.
This is something that most legislators are well aware of as they now try to overcome huge deficits. Those deficits are at record levels now too. This is something that lawmakers are struggling with because there are few options to bring in the millions– even billions– of dollars needed to turn the economy around. Gambling is one of the last sure-fire options to work with.
This is why so many legislators in New Jersey are excited about gambling and making it a priority. They are hoping that it will be the cure-all for their financial strains. It also offers plenty of long-term returns due to how popular it is. As long as people are continuing to support it, legislators believe that they have the perfect shot at fixing a recession-addled economy. The fact is that the power of gambling is something exclusive to that market. Few others can come close to its value.
Its value is exactly why Gov. Chris Christie is now pushing for legalized gambling via a referendum vote in November. He wants it to be put into the hands of the public whether or not gambling is going to be accepted. He hopes that the overall feeling about gambling will prevail. So far there are more and more people supporting gambling and its expansion into the market.
People believe that expansion will benefit them in two ways: 1) revenue and 2) jobs. If states are allowed via referendum votes to open new gaming centers it will naturally increase the tax revenue dollars to the state. This will cut back on the individual taxes people are required to play. Secondly, new gaming centers require new employees to operate them.
This is a huge benefit too to the market. Gov. Christie is going to continue to push for the vote, but likely it will end up on the ballot in November and the people will officially decide.