Are gambling revenues fool’s gold for the state?

Posted Jan. 27, 2009, at 11:33 a.m.

The $23 million the state got in revenue from Bangor’s Hollywood Slots in 2008 is down

from projections. This year, that figure might drop by another $3 million. In a related

story, Scarborough Downs wants to build a racetrack with slot machines in York County.

Is gambling a “win” for the state, regardless of how much the business earns? Were the

projections overly rosy? Will the profits return in a big way when the economy recovers?