Posts Tagged ‘Casinos’
It is the plural of the word casino which is used to describe an establishment where several gambling games are held. They are popular in developed countries as a place to find almost all types of games involving chances such as poker, bingo, and roulette among others. World famous casinos are found in Monte Carlo, Atlantic City, Macau, and Las Vegas.
Casinos have been at the centre of debate concerning the morality of gambling. It benefits the casinos and the economy while at the same time eating away the moral fiber of the society. Gambling addictions are now a norm in society and the most reports are filed in cities and towns near casinos. With this the questioned is asked, should we ban the casino industry? If not should we regulate its influence in society?
Comparisons of Casinos
Can a casino be compared with a factory or a restaurant? This question is asked because a factory brings in returns from the outside and can bring about economic growth in an area while a restaurant serves only the area residents and circulates the money in the region. In the regions casinos are established the employment, the per capita income and the unemployment rates are affected independently. The per capita income generally declines over time, the rate of employment grows and at the same time the rate of unemployment slowly declines.
Hiring of the staff workers may not be taken from the local pool and the individuals who get employmed are usually outsourced from outside communities. This is because the casino may need individuals with little or no ties to the local community therefore when a casino is established it increases the employment opportunities of the surrounding communities. The revenue coming from these establishments are not re-invested to the community’s income. The jobs in other areas may be lost due to competition for entertainment and food dollars.
Casinos and Gambling
The casino industry is heavily criticized for earning most of its revenue by “feeding” from the less privileged in society. Studies show that most of the customers in major casinos were just above the median levels of income and spending. Gambling expenditures from the poor form the largest proportion of incomes in casinos. The casinos management argue that the money spent in their establishments is a voluntary tax which is spent on voluntary goods although the value of the goods maybe disproportionate to their income.
When a casino is opened in an area, the rate of crime around that area is generally low between that timeframe. After a while the crime seems to increase, so why does this happen? A section of the gamblers become addicted to the vice and enjoy the thrill it brings to them. They are described as pathological and problem gamblers and they may resort to all types of crime in order to fund the habit. Some reports indicate that the rate of crime double and even triples within years after the opening of casinos.
This statistics, however, do not discourage the operating of casinos. The management of most casinos have developed ingenious ways of attracting and maintaining very generous clientele.