Word: casino
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...converts to casino culture are just beginning to compute the social costs of compulsive gambling, which, studies show, leads to lost productivity, bankruptcies, divorce, suicide, child abuse and crimes such as robbery, fraud and embezzlement (with consequent police, prosecution and imprisonment costs). Nevada, where gambling is the dominant industry, has a suicide rate more than double the national average, and led the nation in child-abuse fatalities in the period when casinos were still limited to Nevada and Atlantic City. Within two years of Deadwood's casino influx, child-abuse reports rose 43% and domestic violence...
...dropped off her two children at school one day last January, drove to a parking lot and shot herself in the head. Although a riverboat spokesman said he had no record of her visits, friends told the local press that the 40-year-old woman gambled frequently at the Casino Queen. The day she died sheriff's deputies were on their way to her home with an eviction order. She left a note on the door explaining that her husband, a refinery worker, knew nothing of their financial problems, although she had pawned their wedding rings and skipped making...
Indeed, just about everything about the economics of gaming is unpredictable, since the very success of casinos can sometimes breed future failures when the market becomes oversaturated. Rock Island, Illinois, had to rebate more than three-quarters of a million dollars in gambling taxes when its casino revenues plummeted because of new competition from Iowa. In New Orleans the gargantuan hulk of a half-built casino, slated to be the world's largest, sits rusting on the edge of the French Quarter. The builder, Harrah's Jazz Co., is bankrupt, done in by an overly optimistic tax deal with...
...East St. Louis is standing pat, betting all its chips on the Casino Queen and praying that new Missouri casinos will not siphon off its customers. In the gambling business, losing is as much a part of the game as winning...
MARGOT HORNBLOWER returned to the U.S. in 1994 after six years at TIME's Paris bureau and was astonished to see how much gambling was going on in America. Back in 1988, Nevada and New Jersey were the only two states where casinos were permitted. Since then they have been legalized in 24 others. Hornblower's report this week examines gambling's hidden costs and often illusory benefits. Just how pervasive wagering has become was driven home for Hornblower when she flew back to Los Angeles from her reporting assignment and found a letter from her son's parochial school...