Earlier we reported on the potential for four new casinos in the State of Iowa. Now let's hear from South Dakota. We found this graphic from the Sioux Falls Argus Leader:

The new revenues for Iowa might just be generated directly from South Dakota.  The proposed casino in Lyon County, right on border of Iowa/South Dakota and very near Sioux Falls, is expected to generate eighty million in revenue and employ more than 700 people.  All good.

Yet, a study commissioned by the Santee Sioux Tribe (obviously they've got a dog in this fight), found the following:

A report commissioned earlier this year by the Flandreau Santee Sioux Tribe said South Dakota residents will spend $55 million a year on gaming and other activities if the casino and resort is built, and the state will lose $18 million a year in video lottery revenues.The report also found South Dakota residents would generate $13.5 million a year in gaming-related taxes for Iowa, and resident South Dakotans employed by the operation would pay $800,000 to $1.1 million a year in Iowa income taxes.

Interestingly, two State of Iowa-paid studies said:

Two state-paid studies by consultants have said that Iowa's casino industry is nearing saturation. One of the studies, by the Innovation Group of Littleton, Colo., said the Lyon County project would have the least effect on other Iowa casinos. The Lyon County casino would generate $79 million annually, with $6.5 million from the cannibalization of other Iowa casinos.

The State of Iowa doesn't seem to care that they may be near saturation and now appear to want to go after the border states surrounding them.

Iowa now has 17 state-regulated casinos and two tribal casinos. The state-regulated casinos generated gross gambling revenue last year of about $1.4 billion, although most have seen recent drops in revenue because of the economic recession.

Is there ever a time to say "enough is enough?"