States Trying To Figure Out What To Do With All The Casino Money
The first step towards helping state budgets around the country was taken by voters in the November election. Many states had new expanded casino gambling laws voted in by residents in their state.
The second step in that process begins when lawmakers go back to work in the coming weeks. What to do with the extra revenue dollars that have been created will be among the top tasks of these politicians.
Education will most likely be the number one beneficiary in states such as Colorado and Missouri. State funded programs will also receive a boost in other states. How much money is allotted for each area is what will have to be figured out.
"The easy part was getting voters to go for expanded gambling. The hard part will be making sure that all of the city's and counties within each state get their share of the revenue money," said financial analyst Jerome Tyrole.
The controversy over how the money will be spent has already boiled over in Missouri. There are concerns from some officials that the money that is supposed to go to education will end up somewhere else.
Similar concerns exist in other states and it will be the lawmakers responsibility and top priority to make sure the money is appropriated correctly. That job begins on Monday.
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