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Jamaica: Economic crisis puts damper on gambling

16 March 2009

JAMAICA -- As reported by the Jamaica Observer: "The local gaming industry is bracing for the worst in the ongoing economic meltdown that has cost some industry players up to a third of gambling revenues over the past six months.

"At the root of the problem, executives say, is the erosion of disposable income due to inflation, the collapse of the alternative investment schemes, and other financial pressures in the weakening economy. The fallout has seen a dramatic slowdown in sales in an industry where consumer spending is largely discretionary.

"According to provisional statistics provided by the Betting, Gaming & Lotteries Commission (BGLC), the industry posted flat performance last year.

"...The betting sector, which mostly deals with the wagering of money on horse racing, appears to be the most adversely affected so far..."

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