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Casino Gambling Bill Unrealistic

In Wheeling, West Virginia, a debate has come about regarding a new casino gambling bill. The state legislature has recently passed a bill that will allow county voters to determine whether or not to have casino gambling tables set up in the local racetracks. And if voters choose the casino gambling tables, more gamblers would be attracted to these casinos and more money would be earned by the gambling companies.

The casino gambling bill will allow less money to go to the state and county governments than already goes to them by way of proceeds from casino gambling. This bill will only compound the unfairness, and give casino operators more earnings to keep for themselves. With 12 percent of the proceeds going to the government, the bill would only call for 2 percent to be given. Many voters and some Wheeling City Council members feel that simply is not enough. A table casino gambling bill last year stet the government share at 24 percent which is much better than the bill proposed this year. It is clear to see why many feel this bill is unrealistic.

Both the state and city should receive more proceeds from the new casino gambling bill. Huge amounts of revenues are made every month from casino gambling at racetracks and other legal venues. Why not return part of that money back into the community? Although many of the casino gambling operators want to keep the majority of the money for themselves – after all, it is their business – understanding that giving back to the very community that brings you business is the best way to cultivate a successful business.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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