social costs

LAS VEGAS, Nev. — A study released today by the American Gaming Association reveals there is no direct link between gaming and crime and that communities with casinos are equally as safe as communities without them. In many areas, according to the study, there has been no increase in crime after casinos are introduced, and in some cases, the number of crimes and crime rates actually decrease.

WASHINGTON, D.C. — Results of the most comprehensive examination to date of the impact of casino gaming on white-collar crime “do not support the claim that casino gaming contributes significantly to trends in embezzlement, forgery, and fraud.”

Statement by Frank J. Fahrenkopf, Jr.

The GAO report on impacts of gambling was the second gamble Rep. Frank Wolf (R-Va.) has taken with U.S. taxpayer money in his vendetta against the gaming industry. For the second time, he has come up with snake eyes.

WASHINGTON — A new white paper released today by the American Gaming Association (AGA) examines why little progress has been made in researchers’ ability to adequately identify and measure the potential costs of legalized gambling and strives to provide researchers and policymakers with an understanding of the basic problems inherent in measuring the social costs of gambling.  The white paper, “Challenges that Confront Researchers on Estimating the Social Costs of Gambling,” is the latest release in the AGA’s 10^th anniversary white paper series.

Thank you for that kind introduction. It’s good to be here with you this morning.

Mr. Chairman and members of the gaming board, I appreciate the opportunity to address you today. My name is Frank J. Fahrenkopf, Jr., and I am president and CEO of the American Gaming Association, the national trade organization representing the commercial casino segment of the gaming industry, which consists primarily of publicly held companies listed on the New York, American and NASDAQ stock exchanges.

Mr. Chairman and members of the commission, I appreciate the opportunity to address you today. My name is Frank J. Fahrenkopf, Jr., and I am president and CEO of the American Gaming Association, the national trade organization representing the commercial casino segment of the gaming industry, which consists primarily of publicly held casino companies listed on the New York and NASDAQ stock exchanges, including most of the names consumers are most familiar with in our industry: Harrah’s Entertainment, MGM MIRAGE, Park Place Entertainment and many others.

Madam Chairman and members of the committee, I appreciate the opportunity to address you today. My name is Frank Fahrenkopf, and I am president and CEO of the American Gaming Association, the national trade organization representing the commercial casino segment of the gaming industry, which consists primarily of publicly held casino companies listed on the New York and NASDAQ stock exchanges, including most of the names consumers are most familiar with in our industry: Harrah’s Entertainment, MGM MIRAGE, Park Place Entertainment and many others.

I appreciate the opportunity to participate in this forum with you today. My name is Frank Fahrenkopf, and I am president and chief executive officer of the American Gaming Association, a trade organization representing the commercial casino segment of the gaming industry in the United States.

Mr. Chairman and distinguished members of the committee, thank you for the opportunity to submit testimony to your panel today. I realize that many of you may be unfamiliar with our industry, and I always appreciate the opportunity to demystify our business.

For those of you who don’t know about my organization, I’d like to briefly explain what the American Gaming Association is and give you an overview of the industry we represent.