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Food Prices Soar, Antigua Relies on Gambling Revenues
SAINT JOHNS, ANTIGUA --
Food prices are soaring across the globe, as international farmers and restauranteers struggle to make a profit. According to recent reports, the cost of rice and other food products has reached an all-time high, up almost 20% in 2008.
The increase in capital goods is causing many industrial nations to raise prices with consumers, but in Antigua, the cost is being handed down to gamblers playing along the pristine coast of Dickenson Bay.
Instead of raising prices in restaurants and other hospitality driven businesses, Antigua has decided to lower the payout percentages of many of its online casino slots and gambling facilities. Many of the guests have prepaid in advance in the all-inclusive resort destinations.
The truth held constant this past weekend, as American honeymoon couple Liz and Eric Quinn of Philadelphia Pennsylvania reported a steep decline in winnings among many of the Antigua tourists.
"When we entered the Grand Bay Casino near Sandals Resort, we noticed many unhappy guests, those who looked like they had just lost their shirts playing slot machines".
"As the price of food rises, and many of the businesses begin feeling the effects of a weakening food market, its natural for these companies to lower payout percentages within their casinos", said Bob Forrestor, head of operations at a major food distribution site in San Juan, Puerto Rico.
Until food prices stabilize internationally, expect to see lower payout percentages in the casino gambling market across the worldwide tourism spectrum.
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