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Defending harmful products in the name of the workforce that sells them seems pretty cynical, considering not just the harm from problem gambling but also the high number of unemployed customers. Jobless people are twice as likely to play fixed-odds betting terminals as those who are employed, according to DJS Research. Probability change in behavior for unemployed gamblers versus those in employment The idea that local economies suffer because of boarded up betting shops is worth testing. Some local councils have tried in vain to stop their spread anyway, which suggests they don’t see them as an unalloyed good. If these shops are as central to community spirit as their owners claim, they will surely find ways to keep going. In a world where Bitcoin can be drawn from an ATM and risky CFDs can be traded on your phone, reducing the temptations of betting shops on British streets is a small step in the right direction.

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Sullivan casino owner reports $37M quarterly loss

Charlie Degliomini, executive vice president of Empire Resorts, declined to comment Friday on the company's performance. "It’s going to take time to penetrate the market, and you need some runway to do that," Degliomini said in a July interview. The casino is growing stronger "now that more of our amenities are online, and we’ve activated our million-dollar summer marketing campaign, in conjunction with our multimedia marketing campaign, and we have more attractions coming," he continued. Most critically for the owner of the $920 million, 1.6-million-square-foot Resorts World Catskills casino, Empire Resorts is generating just $16.6 million per month in revenue, which projects to $196.5 million for the year. Revenue includes cash from gaming, restaurants, hotel rooms and other sources. During the second quarter of the year, the company reported a $22.4 million operating loss, which doesn't count its $15 million of interest expense. According to Moody's, a healthy regional casino produces a 25 percent margin for earnings before interest, taxes, depreciation and amortization. Even if Empire Resorts improved enough to generate that margin, it would fall about $25 million per year short of covering its $75 million in annual debt- and capital investment-related expenses. Empire Resorts owes more than $500 million in debt and other long-term liabilities. “Without a rapid and significant increase in revenue, the company won’t be able to meet its interest obligations,” said Keith Foley, a Moody’s senior vice president and gaming-industry expert.

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