Column: Competition a sure bet to expand state gambling rules

Apple stockholders have had a hard time in the last few months.

The price of a share of Apple stock has declined from $700 in September to around $450 today. This is a 36 percent hit. It is not that Apple has become unprofitable — actually Apple’s profits are strong. It is just that the meteoric growth in Apple’s sales and profits are slowing.

In 2010, the state of Indiana collected more than $872 million in gaming taxes. This declined in nominal dollars by 5 percent to just around $829 million in 2012. It is not that Hoosier casinos have provided bad services — it is just that traffic is down.

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