Can a casino boost income for the economy and improve tourism for the area?
There is no doubt a casino can attract mega bucks and that is good for traders in the area. Whether it is good or not can only be viewed by countries that have casinos. Las Vegas has been a major draw card for tourists in the US and pumps millions into the country’s economy via their casinos. Not only does casinos attract gambling dollars but are excellent venues for entertainment and good quality restaurants and sales of many retail products. Look abroad for an answer i.e. Since the liberalization of casino licensing in 2002, gaming revenue reached a massive US $45,09 billion dollars in Macau.
In Singapore revenue reached $4.1 billion US dollars. Taxation of the casino industry has become a significant source of economic funds for the Macau government. Yes, there is a risk of increased crime rates, but it can be controlled and as the Gold Coast has proved, not destroy the city. If we expanded the casino industry billions of dollars will pour into our country, boost our tourist business and attract some of the best artists in the entertainment industry to our shores. To some people the mere mention of casino sends them into a frenzy, gnashing of teeth and a major bout of criticism, only thinking it will drive people to gambling beyond their means and put them in debt. Hey, you don’t need a casino to do that as the humble poker machines are already achieving it.