Tax study commissions at a glance
Why: Mandated under Act 1, or the Taxpayer Relief Act, passed in June. Legislators aim to reduce property taxes by increasing income-based taxes and later, with revenue from slots casinos.
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Interesting gambling information:
- The Gold Rush brought a huge increase in the amount and types of gambling to California. San Francisco replaced New Orleans as the center for gambling in the United States.
- People earning $10,000 per year gamble more than twice as much money as people earning $30-40,000 per year. People earning $10,000 per year gamble four times as much money as those making $80,000 or more per year.
- 1993: Steve Wynn buys the Dune Hotel, then implodes it to make way for the Bellagio. The new MGM Grand is completed, once again becoming the world's largest hotel. On December 31, Barbra Streisand stars in the inaugural concert at the MGM Grand Garden Arena.
- Casino chips were used in the 18th century as a substitute for money being wagered. Originally, they were pieces of bones, mother of pearl or ivory engraved with the name of the casino and their respective value.
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