Can Casinos Save a Country’s Economy?

Back then, casinos are suspected of shady business. But the truth is, they are one of the industries that have provided income and jobs to local economies. To give you an example, casino industry as a whole has created or kept roughly half a million jobs in the US alone. This helped in producing around 7 billion dollars for its government.

Though casino operations have an impact on the economy, it is important to have a good understanding of how your community can benefit or be affected by the opening of a brand new casino.

Casino Creates Jobs

In a study performed by John Beshears and his colleagues at Stanford University, they discovered that casinos and even สล็อต เว็บตรง ไม่ผ่านเอเย่นต์ these establishments and businesses were responsible for the huge jump in job growth in the area it is operating.

Casino serves as a Tourist Spot in a City

Casinos are capable of attracting tourists and therefore, increasing a city’s tourism. In 2020, there were roughly 81 million people who have visited and stayed in Vegas. Casinos are making up about 40 percent of all leisure spending in Vegas almost every year. Approximately 9 billion dollars that did not exist if not for these casinos.

Tourists are offered with various activities as well as gambling games. These contributed in drawing people in all parts of the world and experience casino gaming at least once in their life.

Casinos act as a Form of Entertainment

Believe it or not, casinos could be used as a form of entertainment by those people who are visiting the area. In a research in 1994 by Paul C. Brewer, he learned that 10 percent of people who are going to casinos are coming back simply because they enjoy their time being there.

Then again, another 35 percent of them opted to return because they love to play more games or to win their cashback. This is a huge increase from 5 percent to 20 percent.

State Taxes from Casino Revenues

Casinos are paying taxes when they are making profits. Because at the end of the day, casinos are still businesses and any business ought to pay their taxes. In reality, the average tax of casinos in the US was about 30 percent in 2020. This only serves a proof that local economy is relying on casinos to operate.

With all the information provided, we can safely say that casinos indeed help local economies to grow. Of course, it is still important to be responsible when playing casino games.