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Florida Lottery Hit by Casinos

FLORIDA – As reported by the Miami Herald: "Both the Florida lottery and sports wagering took a hit last year after the Seminole Tribe's two ritzy Hard Rock Hotel & Casinos opened for business, a study to be released today shows.

"The upward tick of lottery revenue slowed substantially in 2004 and fell well behind national growth rates of 6.7 percent, according to Casino City's North American Gaming Almanac, an industry publication.

"The lottery reaped $1.36 billion in 2004, up by 2.59 percent over 2003's revenue figure. In 2003, revenue had jumped by 8.19 percent over 2002 figures.

"Meanwhile, revenue from sports wagering accelerated its downward slide in 2004, seeing its biggest plunge -- almost 7 percent -- in four years, the survey said…"

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