Charities Losing Slot Machine Revenue

The more slot machines you bring in, the less money there is going to be in each one. New Yorkers are finding that the slot machines that were doing well, especially the ones for charities, are not doing as well now that more people are allowed slot machines.

Those that used to play the slot machines for charity can now play them for themselves, and that takes a big cut out of the charity pie. Their amount of slot machine revenue has dropped and it is all because of the legalization of slot machines in New York.

Slot machines have been going crazy in the state, between the state sanctioned slot machines, and the ones in the Indian casinos, so there are more places for people to spend their money. However the churches and the charities are paying the price for it. They have lost roughly 20% of their slot machine revenue over the same amount of time that gambling revenue in the state jumped 23%.

Before the legalization of slot machines, New York was ranked 4th in charitable gaming revenues – now they are 6th. That basically means that they were bringing in $122 million in slot machine revenue, and now they are bringing in $97 million.

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