Is Gambling a Good Economic Development Bet?

Source: excerpted from: Steven G. Koven and Thomas S. Lyons, Economic Development: Strategies for State and Local Practice, ICMA Press, 2nd Edition, August 2010

Some communities with desperate economic problems may see the legalization of gaming as a risk worth its potential costs because the cost of doing nothing is already high. Other communities may decide it is more important to avoid the cost associated with social pathologies linked to gambling than to take this path to economic development.

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