Canadian Gambling Down For First Time In Sixteen Years
Gambling and Canada have formed a nice partnership over the last decade and a half. In 2008, however, gambling revenue dropped for the first time in sixteen years, that is according to Statistics Canada.
Surprisingly, the area of gambling that dropped was lottery sales, video lottery terminals, and horse racing. The casino industry is apparently unaffected, still increasing their revenue. The decline in revenue is not out of the ordinary with a worldwide recession going on.
"We're in a recession. There are hard times in a lot of industries," said Bill Rutsey, President of the Canadian Gaming Association, "No industry is completely immune to what's going on from a global perspective. To see some pullback in some areas of spending, I don't think that's totally unexpected."
Back in 2000, seventy-four percent of households were involved with at least one form of gambling. That figure dropped down to fifty-two percent in 2007. The decrease in interest has come because people are having to tighten their spending habits, and entertainment gambling has been among the first budget cuts families are making.
Much like in the US, the figures are vastly different depending on where in the country the gambling is taking place. Different provinces have seen different results in their gambling revenue figures.
The horse racing industry as a whole in struggling. In the US, many state lawmakers have worked this past legislative session to ensure that their horse tracks stay open. In Ohio, the governor of the state, Ted Strickland, issued an executive order to allow slot gambling at state tracks.
July 23, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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