Mississippi Looking for Gambling Dollars
Friday, October 1st, 2010Gambling is a practice that most legislators are looking to for aid in turning around their economies. It’s no secret that gambling is a billion-dollar business and growing. It is difficult to manage the huge deficits left by the recession and gambling is one of the most viable options for spurring recovery. There are some hopefuls though. Carl Icahn, billionaire investor, stated that he believes the gambling market in Mississippi is ready for a turnaround. Icahn recently bought out eight different Tropicana casinos that originally filed for bankruptcy protection. His optimism is unique in the market and hopefully is a sign of what is to come.
Mississippi like other states has suffered huge losses since the recession. The unemployment rate within the state is one of the highest. Possibly natural disasters in the area plus the recession are the cause of the added stresses put upon the area. If these areas are to move to recovery, there is going to have to be some kind of proactive change in the market. Most legislators are hoping that the implementation of gambling is the way to create that proactive change. If gambling can do for states what it has done for others, it may be the savior needed. The post recessionary market is still hampered and it will take more time to turn around. Despite the financial climate, Icahn and others are hopeful. They believe that gamblers are going to be what saves the markets involved. If they can create the best games and specials, then they can bring in enough gamers to fuel their money into the gambling casinos in the area. That in turn will provide enough tax revenue money to fund and recharge the economies involved. Icahn is in the prime position now to benefit personally from the changes too. As owner of eight defunct casinos, he can easily start recharging them and creating streams of income slowly but steadily. Once the economy recovers, he will be in the perfect position to reap the benefits of those changes. His casinos are most likely going to turn around and bring in gaming numbers needed for recovery.

