Gambling-plank-AI

==One Arm Bandids as a Cure All, Policy Brief from the Allegheny Institute, June 26, 2003, Volume 3, Number 30 ==
The owner of a horse track and gaming operation in West Virginia wants to build a track in Allegheny County, get a slot license and donate $60 million (borrowed money) to the Penguins building fund. He will pledge 2 percent of the track owner's share of the slots revenue to retire the debt and pay interest.
He will need roughly $6 million per year. That means the track owner slot revenue will have to
be $250 to $300 million per year. Track owners will get
about 46 percent, which means total slot revenue would have
to be $650 million. Slot owners will be allowed to take
about 8 percent of the amount played as their share and must
pay out around 92 percent to players. Thus, players at the
new track will have to pump $8.1 billion into the 3,000 slot
machines each year. That translates into $370 per hour on
average per machine, assuming 365 days of operation.
His own slots at Mountaineer Park indicate a realistic play rate would be $180
to $200 per hour. In the real world, that is about half of what is needed for Penguin generosity.
=== Market clowns.===
The four existing racetracks in Pennsylvania struggle financially. These major proponents of slots at the tracks wanted to save the horse racing industry. If patron demand was inadequate at four tracks, why should we expect that eight tracks would be able to prosper?