The Casino Industry and Its Expansion

One of the prime reasons for the growth of a legalized casino gambling industry was to give people employment opportunities.

This development also aims to boost state and municipal revenues, and also to entice people to the sopping areas. Such activities caused more cash to spread out within the economy, and a lot of it to be deposited into the city and state treasury.

Earlier, gambling in the casinos was outlawed in Nevada and other states, and so much millions of dollars has been lost in tax revenues. Thus, the campaign towards legalizing gambling in different places was basically an economic decision.

In Atlantic City, New Jersey, legalization of casino gambling was indeed an economic decision. This city was economically unstable – businesses situated at the Boardwalk decreased, and the city was barely of what it used to be.

The place was merely a skeleton, and customers hardly visit the area anymore.

After an enthusiastic campaign armed with a couple of referenda, the legislation was finally submitted. It seems that this attempt worked: twelve casinos now pay a close of one-third of Atlantic City’s property tax, and the county’s over-all budget.

Economic instability has always been the foundation for casino gambling in Iowa, Indiana, South Dakota, Mississippi, Illinois, Colorado, and Louisiana. With the establishment of casino gambling, a lot of legislators perceive a reawakening of their cities that are alike to that of Atlantic City.

Presently, the casino industry in the United States is a multi-billion enterprise; and billions are consumed for the establishment of large edifices such as the Luxor, MGM Grand, and the Mirage. Countless jobs are made during the construction period. Afterwards, almost half of these casuals have become employed as regulars in the casino industry.

Before examining the economic advantages of the casino industry, it is a must to characterize various economic concepts. However, economic may be purported as as the study of insufficiency resources and their distribution to the accost society’s needs.

Money going out of a community is otherwise known as leakage. This happens when a certain community has to purchase good/services not produced in that place. In addition, this also occurs when the businessmen are non-residents of that community – and ultimately take the profits from their company outside the community/state.

Sadly, unless an assured legislated protocols are imposed, the leakage would increase in many of these recently built casino communities. Ironically, the sole aim of introducing casino gambling in a state is to generate as much profits as possible, into it.