Gambling Growing in Canada, Study Says
The economic report, released by the Canadian Gaming Association, a trade group found that the industry's revenues last year, included $700-million on food and drinks and other entertainment for gamers.
The spending figures include revenues from playing slot machines at casinos, buying lottery tickets, charitable bingo, video lottery, and placing race track bets.
Roughly $7.4 billion of the revenues go to provincial governments as taxes, and an additional $3.2 billion goes to charities.
The study was conducted by HLT Advisory Inc.,based in Toronto, Ontario. Researchers found that gaming revenues are equal to the profit generated by spectator sports, television, movies, books, magazines and performing arts sectors combined.
According to Lyle Hall, a managing director of HLT, the strong Canadian dollar, border security issues and increased competition in U.S. border markets had an impact on casinos in Windsor, Ont., and Niagara Falls in the 2003-04 fiscal year, but the operations were able to recover dramatically during the 2005-2006 fiscal year.
Hall also said that when the "Western Hemisphere Travel Initiative," requiring those crossing the border by land or sea to have a passport, is implemented as early as Jan. 1, 2008 it could have an impact on border markets.
The study was released this week at a three-day gaming summit for industry representatives in Toronto.
The news of increased revenues in gaming in Canada comes as the U.S. government is moving to revamp its antiquated laws on Internet gambling, a move inspired by the international outcry over its policies, during the last six months.
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