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Casinos - School Essays

Casinos

have become a form of entertainment for millions of Americans. In fact, Las Vegas, considered to be the home of casino gambling, is third only to Disneyworld and New York for tourism with 260 million visitors yearly. While it is true that generate billions of dollars in revenues hardly any of that makes it back to the local economy as promised by the lobbyists to have built in a city. Effects on local economies include construction jobs are created as well as hospitality jobs within the casino. While it is true jobs are created though usually they go to people outside the communities. The lobbyists for these huge casino companies state that it will also revive a dying economy if they ...

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closed and the number of local restaurants was reduced from 243 to 146. Richard Byron, President of the Federal Reserve Bank of Boston, describes gambling expenditures as Money Extracted From Other Consumer Spending. When come into a small community such as Atlantic City or Biloxi the people living in that community start to go there for entertainment instead of movie theaters, restaurants and other places they used to go to before. In 1994, more people went to the than went to major league baseball parks and more money was spent on than books, albums, and theme parks. It also affects real estate values, in Atlantic city the average cost of a house dropped 24,000.00 after the were built and 11,000.00 for cities close to Atlantic City.
The reason for this may be because of increasing crime rates. The would have everyone believe there is no change in crime statistics after they come in but this is not true. The American Insurance Institute estimates that 40% of all white ...

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Casinos. (2006, October 26). Retrieved April 24, 2024, from http://www.essayworld.com/essays/Casinos/54546

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Added: 10/26/2006 10:07:46 AM
Category: Miscellaneous
Type: Premium Paper
Words: 1220
Pages: 5

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