Casino Gambling as an Economic Development Strategy

Topics: Economy, Casino, Income Pages: 2 (456 words) Published: May 21, 2011
Casino Gambling as an Economic Development Strategy 1) Summary According to the casino gambling is experiencing rapid growth in the Unites States. This paper focuses on social and economic effects of casinos. For the methodology part; the author uses “the Quasi-Experimental Control Group Method” to study 68 counties where casino were open during 1989-1993 and 3 multi-casino counties. The method chooses a control group to of counties similar to counties that can be divided in to 1) The control group with a treatment which have received a particular construction or opening of a casino facility. 2) The control group of untreated counties without the casinos that serve as a benchmark against which to measure the effect of the treatment. By having the ultimate goals compare the growth rates of casino and non-casino counties. Here are the results 1) the casino counties that suffered from lagging earnings, employment and population growth before may be recruiting the casinos to offset the declines of their economy. 2) The growing of an economy can be driving from the service sector which largely from casino development including construction, retail trade and dividends, interest and rent. 3)The per capita income grew nearly 5% points faster in casino counties than their non casino counties. Therefore, casinos not only grow the local economy, but on average residents gain as well. 4) The casino earnings and employment opportunities do trickle down or increase the wealth to the lower income residents. 5) The casino does not cause crimes. 6) There is no evidence that casino development cannibalizes other industries. 7) The casinos are supplied by the outside of the host county for the labors. Therefore much of the casino generated income goes to outsiders is noteworthy. 8) The establishing of gambling venues which are adding capacity increases the competition. 9) Not all counties get benefit equally depending on the type and location. For example Riverboat casino has more...
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