This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

New Study: Texans Spend $2.96 Billion Annually At Neighboring Gaming Facilities

Texans Responsible for 38.6% of Total Gaming Revenue in Oklahoma, Louisiana and New Mexico

AUSTIN, Texas, April 2, 2013 /PRNewswire-USNewswire/ -- The following was released today by Let Texans Decide:

A new study released by a leading Texas-based economic group, TXP, shows neighboring states are taking Texas to the cleaners through legalized gaming. Texans are responsible for $2.96 billion in annual gaming revenue in those three states – up $590 million since a 2009 study -- and in both Oklahoma and Louisiana represent more than forty percent of their customers.

"Texans are gambling in large numbers in neighboring states, and especially at casinos and tracks close to the Texas border," said TXP President Jon Hockenyos. "We compiled facility-specific data when available from neighboring states, along with surveying thousands of license plates, to arrive at our central conclusion: Texas gaming dollars are a lucrative prize for neighboring states."

TXP determined that while Louisiana, Oklahoma and New Mexico represent three percent of national personal income in 2011, they were collectively home to 11.7 percent of national gaming expenditures. When money spent by Texans on food, lodging and other amenities is added to money expended on gaming, Texans spend $4.37 billion each year on gaming trips to Oklahoma, Louisiana and New Mexico.

Gaming facilities closest to the Texas border received an abundance of Texas visitors, as evidenced by this chart.

" Texas is hemorrhaging money and our horse industry is under assault while tracks in other states with expanded gaming offer more lucrative purses," said John T. Montford, chairman of Let Texans Decide. "We offer a simple proposition: let Texans decide if they want to keep their dollars in Texas to the benefit of our state."

Bi-partisan legislation has been proposed in both the Texas House and Senate that would let Texans vote on expanded gaming and puts our horse industry on a level playing field.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,679.22 +0.99 0.01%
S&P 500 2,060.14 +3.99 0.19%
NASDAQ 4,882.7430 +19.3810 0.40%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs