Brazil tried to pass gaming laws prior to its Olympics hosting, but failed. Legalization talks continue today in an effort to find new forms of tax revenue. Las Vegas Sands billionaire Sheldon Adelson is once such mogul who is reportedly interested in building in Rio should the market become liberalized.<\/p>\n
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Japan won’t be making the same mistakes as Brazil. Its National Diet passed an integrated resorts bill to end commercial gambling prohibition in December, and the expected two casinos could be ready in time for the 2020 Summer Games in Tokyo.<\/p>\n<\/div>\n
Few Suitors Remain<\/b><\/h2>\n
While the 2016 Olympics avoided complete catastrophe, it was certainly a scandal-riddled two weeks in South America. Inadequately built venues and athlete housing, sanitary issues, concerns over crime, the Zika virus, and more plagued the games.<\/p>\n
The International Olympic Committee can cross South America off its list, leaving Africa as the only inhabitable continent not to host an Olympics. But it\u00a0will likely stay that way for decades to come due to the ever-growing cost\u00a0surrounding the Games.<\/p>\n
Los Angeles and Paris are the two finalists for the 2024 Summer Olympics after Budapest, Rome, and Hamburg\u00a0all withdrew their bids.<\/p>\n
Bottom Line<\/b><\/h2>\n
Oxford University recently compiled data on what it takes to host the Olympics. With costs adjusted for inflation, from 1960 through Sochi in 2014, the average price was $5.2 billion for the Summer Games, and $2 billion for the Winter Games.<\/p>\n
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Top 5\u00a0Offenders<\/i><\/strong><\/p>\nSochi (2014, Winter) $21.9 billion<\/p>\n
London (2012, Summer) $15 billion<\/p>\n
Rio (2016, Summer) $12 billion<\/p>\n
Barcelona (1992, Summer) $10 billion<\/p>\n
Beijing (2008, Summer) $7 billion<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The Olympics no longer have the upper hand in determining where its summer and winter games will be contested. That’s because the international sporting competitions have left a path of destruction, both in a financial and infrastructural sense, in recent decades. Cities are finally wising up that the gamble on hosting the Olympics far outweighs […]<\/p>\n","protected":false},"author":42,"featured_media":51059,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,61,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n