by CNET
Published: Mon, August 10, 2009 - 10:22 am CST
Last Updated: Mon, August 10, 2009 - 10:24 am CST
(CNET)Gambling revenue is no longer a sure thing for many states.
In yet another sign of the recession's toll on the U.S. economy, eight of the 12 states that allow commercial gambling, including Nevada, experienced declines in revenue, the Wall Street Journal reports.
In 2008, states' take from casinos was down 2.2 percent to $5.7 billion, according to the American Gaming Association, and casinos as a whole earned roughly $33 billion, down 5 percent from the previous year's total.
Between 1998 and 2008, state gambling revenue, which includes horse racing and lotteries, rose 65 percent to $23.9 billion, the Journal reports.
In addition to the weak economy, the expansion of casinos and slot machines across the U.S. has thinned profits.
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