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How did the casino industry expand in few decades?

The expansion of casino industry in the last few years has been dramatic. You will find that there are nearly one thousand commercial as well as tribal casinos in the country. There are further plans to expand the casinos in the near future. The main reason of this vast increase in the casinos is the benefits of cost.

What is the cost benefit?

It is a trend that whenever there have been plans for the expansion of, there have been various issues raised. It is argued that the casinos will create tax revenues as well as jobs and the wages will go higher. But on the other hand the argument by the opponents is that there will be an increase in crimes. There have of course been several studies on the economic growth of the casinos:

  • The employment and wages have increased drastically. The study shows that the countries that have legalised casinos have a higher rate of employment and in turn an improvement in the economic growth.
  • The tax benefits are considered to be the most important political benefit. The tax revenues make it easier for the politicians to avoid spending cuts or there will be an increase in other taxes.
  • If the new casinos are legalised, then there will be additional tax revenue for the state. It has been seen that the increase in in the world has decreased the number of problem gamblers. This state has been stable for many years across the globe.
  • The increase in casinos has also harmed the growth of other industries. This is nothing but a part of market economies. The fact is that the casinos are creating new and varied options for the consumers. It is the part of enjoyment that the consumers get.

The casinos anyhow have succeeded to outweigh the costs and have benefited the consumers largely.