Atlantic City Casino Promise Delivered In Spades

OLD HEAD · 07-06-06, 11:14 PM

ATLANTIC CITY: BEFORE AND AFTER

In 1976, the citizens of New Jersey voted to legalize casino gambling in Atlantic City. It's instructive to compare the promises made during that campaign to the actual benefits seen in the state 30 years later.

Promise: 33,690 new jobs in the state by 1985, including 24,600 in casino hotels
Reality: 44,542 people directly employed by the casinos

Promise: $844 million in new construction by 1985
Reality: $8.7 billion in capital investments by casinos*

Promise: $330 million in new wages by 1985
Reality: Annual payroll of $1.243 billion (does not include benefits)

Promise: $30.3 million in annual casino tax revenue to benefit senior citizens
Reality: $490.19 in tax revenue in 2005 to benefit seniors, disabled, economic revitalization programs

Source: State of the States 2006

*Christiansen Capital Advisors

07-06-06, 11:14 PM	#1 (permalink)
OLD HEAD SCI Veteran Member Join Date: Jul 2005 Location: JOISY !! Posts: 1,752	Atlantic City Casino Promise Delivered In Spades ATLANTIC CITY: BEFORE AND AFTER In 1976, the citizens of New Jersey voted to legalize casino gambling in Atlantic City. It's instructive to compare the promises made during that campaign to the actual benefits seen in the state 30 years later. Promise: 33,690 new jobs in the state by 1985, including 24,600 in casino hotels Reality: 44,542 people directly employed by the casinos Promise: $844 million in new construction by 1985 Reality: $8.7 billion in capital investments by casinos* Promise: $330 million in new wages by 1985 Reality: Annual payroll of $1.243 billion (does not include benefits) Promise: $30.3 million in annual casino tax revenue to benefit senior citizens Reality: $490.19 in tax revenue in 2005 to benefit seniors, disabled, economic revitalization programs Source: State of the States 2006 *Christiansen Capital Advisors __________________ SHOW NO EMOTION
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