Donna Purcell Order #577453 05 October 2011 Are Gaming Casinos Beneficial to an Economy? A brief look at the past history of Las Vegas shows us that Casinos have been the main economic builders for this major city. Las Vegas’ history shows it evolved out of the Gold Rush Era…
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The city attracted more and more people looking for work, and jobs were plentiful. It became a place where divorce could be obtained very quickly, which added to the lure of the economy. It also became a major tourist attraction of people interested in watching the construction progress of a massive dam. It was a way for the city to raise tax revenue. The first casino/resort to be built was the El Rancho in 1941, which started a booming industry that replaced mining and farming as the number one industry by 1950. Looking at Las Vegas today, it is still a thriving economic marvel. Residents are lured by the No State Income Taxes, increasingly newer homes, great climate year round, easy access to highways and good roads, great public schools, and state-of-the-art hospitals. The allure of a good job market, hiking and water sports, and just the prospect of a better life bring approximately 5,000 new people a month. It also loses 1,000 people a month, however, these numbers are based on vacationers. The growth of the city has been from legalized gambling and casinos. Gambling, wagering and betting bring in millions of dollars to Las Vegas and it’s one of the major reasons people migrate there. Other major Casinos are in New Jersey, Mississippi, and Pennsylvania. New Jersey was the second state to legalize casino gambling in 1978. This move helped to revitalize the resort area known as Atlantic City, and it was a success. Gambling has always been a subjective issue in the United States. Supporters argue that it increases revenues to the state and local economies in addition to promoting jobs and recreational benefits. History shows that the economic benefits greatly outweigh the detrimental side of casino gambling People who are opposed to casino gambling cite higher crime rates, gambling addiction and moral issues. Other less mentioned arguments are erosion of work ethics and traffic congestion. Some of these points can be measured in dollars lost in the form of more police, increased legal and prison costs, the cost of social services for compulsive gambling, lost job production, and costs for traffic control. However, the damage that is done to persons and families cannot be measured. According to Terry Rephann with the Allegany College of Maryland casino gaming is more popular among older and more affluent people. Using Minnesota as an example, gamblers are drawn mostly from within the state to the Indian Casinos. The Indian Gaming Regulatory Act of 1988 made if possible for the Native American Tribes to negotiate Class III gaming compacts within their own states. They are allowed to operate full-scale casinos. Thus, in the last decade it has become a viable means of stimulating the economy, lowering unemployment and increasing tax revenues to local and state governments. Among other benefits, it has allowed Native Americans to greatly improve the quality of their lives. It has improved their schools, housing, jobs and income. Casinos attract tourism, increase business to other businesses in the area as well as lift the tax burden on the residents of the community. In economically depressed areas, casinos are seen as a sure way to draw tourists and create new jobs. Native Americans also have misgivings about the social ills that come with gambling. Chris Pearson, who is a member of the Mashantucket Pequot tribe says, “Native Americans are very spiritual people, and we don’
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“Gambling Casinos Research Paper Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/english/1433011-gambling-casinos.
China with its keno and with gambling as part of their culture influenced other nearby Asian countries to come up with their own version of gambling games. Recently, Macau launched bigger casino hotels affirming that Macau is the “Monte Carlo” in the orient which is being visited by gamblers near and far.
Among these groups is the No Casino Advocacy group with influential people such as former State Senator Dan Gelber, former U.S. Attorney for the Southern District, Bob Martinez, and businessman Norman Braman as members. These groups blame the rise in the number of casinos and increased gambling for the increase in crime in the city.
Whereas, the convenience gaming spots offer very little of gaming options and such opportunities and, therefore, are of no significant economic benefits. With gambling, there is huge amount of money involved, both in terms of cost as well as benefit. These costs and benefits are associated to the population drawn in this field.
Some are of the view that a minimum age of 21 years is appropriate since most gambling areas sell alcohol and only those of 21 years and above can be sold alcohol. This has been the view of many and is the case in the United States of America (USA), where most casinos have set the minimum age at 21 years.
Addiction of Gambling is recognized as problem concerning with the mental health of an individual and an individual suffering from this problem fails to control his impulse. People suffering from this disorder may indulge in betting money or other assets in various forms of games such as horse races (Lawrence 1).
Gambling is a game that has existed for a long time, but it becomes more popular after the Second World War. In the year 2008, more than twenty six million people gambled in the state of Indiana generating more than $2.6billion in win (Landers, 2009). Landers also argue that gambling brought about income inequalities especially from taxation than other income generating activities due to the complex nature of the game.
Some tribes have now been able to provide essential services themselves instead of having to depend on the government, through gaming profits and the economic means of exercising their inherent sovereign powers among other means (Steven and Kathryn, 2005).
The entire auditing process comprised of these two key transactions: collection of funds and its safe transfer to the local banks.
The function of internal audit contained within the casino setting as observed regularly in recent times, is in fact devised by three key influences within the gambling industry.
There are many forms of gambling which include buying lottery tickets, online gambling or betting, playing cards, rolling dice for chance, playing in casino, slot machine, betting on sports, betting on horse racing and many other
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