Unreasonable state taxes on casinos discussed at Expo
By abigail
Another topic being raised as a point of concern for the American casino industry at this week's Global Gaming Expo, is the amount of taxes expected to be paid by casinos in some states. Representatives of several of the larger casino companies have spoken out about the difficulties that high taxes create for their companies, and how they are adapting their plans for the future in order to minimise the impact.

The Chief Executive of MGM Mirage, Terry Lanni revealed that the casino industry giant is looking at only developing their business in three US regions. Future investments for the company will be concentrated in Las Vegas, Mississippi and Atlantic City, labelling the taxes incurred in other states as “unreasonable”. Adding to the debate, Peter Carlino, the Chief Executive of Penn National Gaming Inc, spoke of a recent bout of lay offs that had to be made by his company. He located the trigger for this downfall in fortunes as a tax increase imposed in Illinois, and stated that for his Penn National Gaming, future developments would lie in Las Vegas and Atlantic City- two areas where they currently have no venues.

Gary Loveman, the Chief Executive of Harrah’s Entertainment revealed within the discussion, that part of the thinking behind the strategic acquisition of Ceasars Entertainment Inc lay in the resulting consolidation of their presence in the three markets considered more casino industry friendly- that being again Las Vegas, Mississipi and Atlantic City. In his statements he also asserted that some state governments harbour a “widespread misunderstanding” of casinos.

 
 
 
 
 
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