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All this is more bad news for states that previously enjoyed casino monopolies. Pennsylvania, which has a casino market a quarter the size of Nevada's, now collects more gambling taxes than any other state. The state took in $1.5 billion in such revenue last year. Moody's predicts these trends will continue as more states harness gambling as a new source of revenue. The result could be a redrawing of the market share and tax revenue landscape. Casino owners have been working to draw visitors to their gambling centers with lavish clubs, high-end restaurants and outdoor novelties like the world's biggest Ferris wheel, which is under construction along the Las Vegas Strip.
[Associated
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