Edward Morse and Ernie Goss, law and economics professors at Creighton University, have just published a new book, "Governing Fortune: Casino Gambling in America." The book offers acute observations about the legal and economic factors involved in U.S. gambling, and it explores the policy issues of legalized gambling.
Morse's and Goss's study deconstructs the costs and benefits of legalized casino gambling. “Governing Fortune” shows that casinos create jobs, but fail to heighten personal income. Casinos increase tax collections, but its effect on tax relief remains ambiguous. All the while, the book examines the government’s role in regulating casino enterprises.
This is an important book that addresses a major current problem. New casinos are springing up everywhere, off of highway exits and on also on the Internet. I am not too knowledgeable about the topic because I don’t gamble and because I am a financial pinhead. I only know Scorsese’s Casino and Las Vegas buffets. I did, however, find this paragraph on wikipidia.com that briefly explains our nation’s gambling regulations:
“Gaming Control Boards are usually responsible for promulgating rules and regulations that dictate how gaming activities are to be conducted within a jurisdiction. The rules and regulations stem from the jurisdiction's enabling act. Generally, the enabling act is passed by the legislature and sets forth the broad policy of the jurisdiction with regard to gaming; while the rules and regulations provide detailed requirements that must be satisfied by a gaming establishment, its owners, employees, and vendors. Typically, rules and regulations cover a broad range of activity, including licensing, accounting systems, rules of casino games, and auditing.”
URL: http://www2.creighton.edu/publicrelations/newscenter/news/2007/march2007/ma
rch302007/gossmorse_nr032930/index.php
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