Casinos are very strange beasts. And, I find, often very misunderstood. Many people I know simply view casinos as houses of debauchery, where people go to get up to all sorts of mischief, often somehow involving ancient Greek style orgies.
Now, I’ve been in more than a few casinos in my time, and have never once come across an ancient Greek style orgy, and more’s the pity… But I can understand how people have negative views of casinos. But I think that there is a great deal more to casinos that tend to meet the eye. There are a number of social and economic benefits to casinos, and I think it’s important to understand them.
Casinos and Taxes
First and foremost, if you think it’s easy to build a land-based casino, you are very much mistaken. The time and effort that goes into building casinos, and running them, is almost outrageous. Given that most casinos are architectural wonders, involving insane amounts effort and detail in every square meter, you can bet that building a casino is no small task. And, no doubt, also an extremely expensive task.
Your average casino can cost over a billion dollars to construct. That’s billion, with a B. And furthermore, a person cannot simply decide that they want to build a casino and start constructing it. The casino will be bound into a deal with the government of that country, with the profits of the casino being taxed monthly. How this works exactly is up to the rules and regulations of the region, but there are no casinos that are not taxed by a government. Which to say; the local government of the country in which the casino resides benefits greatly. And, of course, if a government benefits, the people relying on that government benefit.
Just as a quick example, the people of Monaco pay no taxes. The area is completely reliant on it’s casino industry for funds.
And speaking of Monaco, the area was, prior to the construction of its casinos, in a financial slump. It had dire financial problems, until the idea arose to turn the area into a casino hotspot. The reasoning was that building a few prime casinos, at great cost, would generate enough business to pull Monaco out of it’s troubles. And if it wasn’t already obvious, the plan worked like a charm. Monaco is now regarded as a wealthy person’s playground. And, as already said, the people of Monaco no longer pay any taxes.
Now, I’m not suggesting that any area that builds a casino will suddenly have tax-free citizens, but a casino is certainly a shot in the arm for a local economy. Casinos draw in tourists, local visitors, and provide dozens, even hundreds of jobs for the locals of the area.
In other words; casinos are good business, assuming that they’ve been properly planned and thought out. Which they always are, given that someone is investing a billion dollars into it. Remember?
Jobs And Business Galore
I just mentioned jobs for locals, but it is worth mentioning a second time. Casinos are a huge machine, and depending on the size of the casino, there can be jobs for hundreds of people. And that’s obviously not just croupiers I’m talking about. The average casino has not only game tables, but also shops, restaurants, entertainment venues, security personal, and so much more.
There is, to put it another way, almost no better way to boost the overall economy, and the opportunities of the locals of an area, than to construct a casino in it.
Pros With The Cons
Now, I would never ignore that there are cons that coming with a casino opening in an area. There are, of course, negatives, and these cannot be ignored. For one, I’m aware of the fact that casinos tend to be targets for criminal activity. After all, when you have a location that is apparently home to all the criminals in the world, it is going to attract a certain amount of attention. This, naturally, is far less of a problem for online casinos.
But any casino worth it’s salt is extremely serious about it’s security in this day and age. In fact, land based casinos make it all but a top priority to ensure that a casino is so well secured that criminals dare not even try. Sure, there is bound to still be some problems, but an army of locally employed security see to these situations before they arise.
So, either way, there are obviously positives and negatives to a casino opening. But I feel it’s very important to understand why casinos open, why governments allow it, and the benefits of a casino being in a region. My only hope is that my local casino pulls a Monaco, and I get to stop paying taxes.