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Monday, April 30, 2007
Canadians have the gamble in 2006, says study
By Erin Warner
The Canada Gaming Association is plugging the economic benefits of gambling in the country after posting a study highlighting the industry's robust profits last year.
Canadians gambled away $14.5 billion in 2006, according to a report commissioned by the organization, while the industry made more than $15 billion in revenue.
Some of that cash flow - $700 million - came from non-gambling activities such as food and drinks.
After directing $7.4 billion to provincial governments, $3.2 billion went to charities, lottery operators, retailers and the federal government, leaving $10.6 billion in profits.
Critics say the study focuses too much on the positive impacts of gambling and ignores the industry's negative side.
The gaming association fired back, however, with findings suggesting that the industry contributes $15.3 billion to the economy and accounts for more than 50,000 jobs.
The study also found that gaming revenues are on equal to the combined profits of other entertainment activities including spectator sports, TV, movies, books, magazines and the performing arts sectors.
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