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Buffett Opposes Nebraska Gambling

NEBRASKA – As reported by the Omaha World-Herald: "Nebraska would be taking advantage of suckers if it legalizes casino gambling, Omaha investor Warren Buffett said Sunday.

"…Buffett said he plans to vote against the proposal on the November ballot that would allow casinos in the state, even though a large percentage of the revenue generated by the three casinos in Council Bluffs undoubtedly comes from Nebraskans.

"'Gambling interests don't bring out the best in society,' said Buffett, who is chairman and chief executive of Berkshire Hathaway Inc., the Omaha investment company that held its annual shareholders meeting at the Omaha Arena on Saturday.

"…Buffett said some people say stock market investing amounts to gambling, and some traders seem to act that way. But investing in a business is a constructive use of money because a business can generate income, while gambling does not…"

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