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What was spent on gambling machines is just the tip of the iceberg. That was actually a good investment, if somewhat reeking of cronyism and favoritism. Simply legalizing gambling and taxing gambling operations or the resultant incomes should have been more than enough to raise revenue, but even a $50 million investment in it is still going to pay off in fairly short order.
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The casinos are not good investments. The money generated never reaches the schools. The lottery was designed to generate monies for schools and such. If that is the case then the lottery is a failure because schools are in overcrowded and in disrepair. Teachers are being laid off. The casinos were sold under the same stupid premise....money for schools and other state projects. That is all well and good however the crime, drugs, prostitution that follows gambling is coming. This needs to be addressed. More tax payer monies. I believe you thinking is way off. Furthermore, the states do not own the casinos. These are owned by independent companies. They should flip the bill. The state tax payers are already taking it in the shorts and will continue to take it in the shorts. That 50 million will not be paid off in short order. Furthermore, the machines were sold at twice to three times what the machines normally sell for. It will become a silent issue and disappear in the gray area we call government.