Video Gambling Takes Center Stage for NC

Politicians in North Carolina are still debating the legalization of gambling. Right now there are few options when it comes to bringing in the huge tax revenue dollars needed to turn the markets around. Consider that a mid-sized casino can bring in millions of dollars to the economy every month, and create hundreds-of-thousands of dollars a month in taxes for the state to benefit from. Right now the states are all looking for ways to generate money because of the deficits. Since the recession more and more states have had problems with bringing in money. Plus the gambling public has dwindled due to hefty unemployment rates and problems that people are having with their own personal finances. This is making it difficult for every state to build up their coffers and money- generating activities. North Carolina is no different, but there may be some relief on the way. Governor Bev Perdue is on board for gambling. Legislators and gaming companies in the state are hoping that the governor is the one to push gambling to legalization. Video gambling is already legalized, but it isn’t yet on the grand scale that the state would need to completely turn the market around. Hopefully Perdue will be the one to turn that around.

The video gambling industry though isn’t quite a happy about legalization as one would have thought they would be. Operators recognize that if gambling within the state is legalized it will create a huge competitive market for them to wade through. Up until now they have been the sole providers of the games; if they are legalized throughout the state, then they will have a lot of competition. This could considerably cut back on their own revenue streams. There isn’t much they can do though. The state isn’t going to hold back on legalization just because video gambling operators don’t want it. They are going to have to continue to manage as the market grows. Only the biggest and best video gambling providers are going to make it though. Everyone knows this and it is making some current providers shake in their boots.