Urban-suburban casinos fall in middle
Not all forms of gambling are equal in terms of economic benefits they generate and social costs they create, one the nation’s leading gambling experts said Saturday.
“Detroit is not the tourism capital of the world,” said Eadington, director of his university’s Institute for the Study of Gambling and Commercial Gaming.
Several large casino companies took on huge amounts of debt to finance multibillion-dollar casino projects, such as the 67-acre CityCenter development in Las Vegas, only to see their stock prices plunge by 98 percent over a period of 18 months.
Eadington said there are real societal problems associated with problem gambling, including bankruptcies, family disruption and some types of crime.