Abstract
ABSTRACT:Public policy makers at the state and local levels will continue to face the issue of gaming in spite of recent public backlash. Many state and local governments have looked toward gaming as a means to increase revenues without raising existing taxes. There are several issues that a community should consider when deciding to take this approach, such as: Is the local market sufficient for what is being proposed? What will happen to state and local revenues when more and more casinos are added to an area? Do the funds come from inside or outside the community? Does the availability of gaming create demand or just fill existing demand? In response to these issues, this article utilizes ZIP-code level and aggregate data on casino operations in 1994 in the Chicagoland area to model the market for casino gaming. The findings of these simulations estimate the effects on the market created by the opening of four Indiana casinos. Local decision makers will find this report a useful tool as they consider similar proposals in their own communities.
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