Optimization of State Revenues through the Introduction of Casino Gambling

Abstract

This thesis will try to determine whether any state could benefit from the introduction of casino gambling, and if so, how much extra funds could be expected. Massachusetts residents spend an estimated $620 million at Connecticut's two casinos -- Foxwoods and Mohegan Sun, and they are dropping an additional $726 million at out-of-state gambling facilities each year. If this sum were to be spent in-state, Massachusetts would be able to reap a significant percentage of that amount for its state revenues. The same can be said for Rhode Island. West Warwick, Rhode Island is merely 45 minutes away from Foxwoods, and Mohegan Sun is about an hour away, and for a state with a huge deficit, the profit that RI could reap from an instate casino could make the introduction of casinos a worthwhile venture.