Say Yes to New Hampshire. Say NO to Casinos.
5. Casino economic costs exceed tax revenues.
Economic costs of casinos include reduced workplace productivity and increased rates of white collar and violent crime, bankruptcy, embezzlement, suicide, illness, and state and local civil justice, law enforcement, highway, school and social welfare costs.
Baylor University economist Dr. Earl Grinols, in his presentation to the NH Gaming Study Commission, estimated that the cost/benefit ratio (PPT Download: slides 26-27) for NH casinos is about 3:1 and that the approximate cost of full casino introduction per adult resident is $200 per year above economic and entertainment benefits.
The NH Gaming Study Commission in 2010 found that if Massachusetts casinos were legalized and Massachusetts social costs are included, Millennium Gaming’s proposed Rockingham Park casino would cause $143-288 million in uncompensated social and economic costs, greater than its projected $150 million in tax revenues (see pages GSC 60, 89, and 91 for data).
The Commission found that a North Country (i.e. Berlin) casino would also create costs greater than tax revenues, but with all the cost burdens imposed on NH residents (see page GSC 41).
Casino backers disingenuously argue that Massachusetts casinos will export uncompensated social costs to New Hampshire and that, by legalizing casinos here, New Hampshire will have revenues to pay for these costs. Casino backers purposefully fail to acknowledge that bringing casinos here would only increase net costs to New Hampshire. Imitating Massachusetts’ mistake by allowing casinos in New Hampshire would only make the problem worse.