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Economists express doubt on Florida gambling plan

TALLAHASSEE, Florida -- As reported by the Sun-Sentinel: "The casino gambling expansion envisioned by the state Senate might not be the $1 billion financial bonanza supporters envision, state economists said Tuesday.

"The Legislature's economic office predicted that even after the gambling expansion reached full strength, the Senate's proposal for full casinos at Seminole resorts, statewide expansion of bingo-like slot machines and other measures like lowering the gambling age from 21 to 18 and would raise $535 million in annual income.

"Gov. Charlie Crist and the Senate said they were hoping to get $700 million to $1 billion from the deal.

"And next year, with the state facing deep deficits, the Senate plan for gambling on non-tribal lands would actually cost the state $13.6 million in lost revenues, the economists said, in part because the package lowers the tax rate on slot machine profits..."

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