Online Casinos Directory

Many countries are looking to the gambling industry to get them through the aftermath of the global recession.  It’s no doubt that gambling is popular. There are billions of dollars being channeled into gambling both in land-based and online casinos. Although before gambling was ignored mostly by legislators, they are now taking notice due to their overwhelming need to find new money-generating activities. Deficits are huge due to the recession and many countries are stifled. They don’t know how they are going to overcome the huge economic shortfalls the recession created. There are limited options in terms of how to bring in cash. The billion-dollar gambling industry is where most legislators are turning in this time of financial need.

Bulgaria has now become the latest country that will be turning to its gambling industry to help them through the recession. There are discussions taking place about a proposed tax rate increase for gambling. The Bulgarian Association for Entertainment and Gambling Games has already a strong criticism of the country’s proposal however. They believe that an increase in the tax rate would cause casinos to possibly be forced out of business. If casinos went out of business, the revenue generated for Bulgaria would actually decrease instead of rise. Even with the resistance, government officials believe that the tax increase is necessary to help with the recession.

The recession has torn apart the economic health of the country and the gaming industry as a whole is suffering too. About 40% of business at casinos has already been lost due to people not being able to gamble. Discretionary spending is still at a minimum in the country. The proposed tax rate increase would make it even more difficult for casinos to continue to operate. It would cut into what little profits they are having and the casino still have to cover their overhead costs that are growing quickly.

The US is going through a similar fight. Here too the economy is hurting and gambling locations like Las Vegas and Atlantic City aren’t bringing in the billions they were a few short years ago. The recession has also caused prices to elevate and this doesn’t help the budget situation.  Both Las Vegas and Atlantic City have already seen double digit declines in revenue at their casinos for many months in a row now. There is no telling if things are going to start turning around soon or if they will have to shore up their budgets for even more cutbacks and layoffs.

In the US, instead of raising taxes, individual states have been expanding their gambling options. Casinos are being built in states that have long been against casino gambling. In other states, there is expansion taking place to casinos that already exist.

Oxford, Maine is going through the same debate over legalizing gambling as the rest of the country.  Thus far the city has been divided on the issue. On one hand you have the legislators who are campaigning for the legalization and regulation of gambling. They see the dollar signs. To them the casino’s tax revenue is hard to pass up. Every state in the country is suffering with a huge deficit due to the recession and many programs had to be cut. That has left politicians with the daunting task of overcoming billions of dollars worth of deficits and shortfalls.  The biggest problem with them is that there are no additional revenue generating resources…until now.

On the other hand there are the ethically-based and religious-based organizations that believe that introducing gambling would cause sure disaster for society. They believe that the number of addictions and crime rates would soar if gambling were legalized.  They want it to be kept away from the most sensitive citizens, like underage citizens and the elderly, fearing for their well-being.

Oxford has quickly entered the debate and has spent more than a few of the past months weighting its options carefully. Now it seems that a decision has been made since elected officials have endorsed by a 5-0 vote to build a resort and casino in the town. This past Thursday the voting group decided to implement their plan for Black Bear Entertainment Company. Currently the company is gathering signatures and backing for the casino proposal. They are hoping to be ready for the 2010 November election.
Black Bear Entertainment’s spokesperson Rupert Grover said the board’s vote was a good sign and should encourage voters to remember that it will mean job creation for the immediate citizens of the city.  Grover is estimating the creation of 100-150 new jobs for people and citing the extra millions of dollars in revenue that will be brought into the city from gambling, tourists’ visits and tax breaks. Just one year ago Maine voters rejected a proposal for an Oxford County casino. Similar proposals for casinos in other areas of the state have also been shot down at the polls.  This is why legislators and casino developers are doing their best to cite the positive results of having a casino and resort in the city.