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Casino industry spurs $329 billion in U.S. economic activity, study shows

6 Comments
By WAYNE PARRY

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6 Comments
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Japan could have caught a piece of the action if quicker action had been taken. Instead, Osaka will be waiting until 2030 (or beyond) while there is still no movement in other areas of the country. From Hokkaido to Yokohama, to Wakayama - bids were cast aside pandering to local business powers afraid of losing their crumbling monopolies. The tourist tax money, the jobs, and the well-needed infrastructure, could have been huge.

https://www.channelnewsasia.com/commentary/casino-integrated-resort-singapore-japan-thailand-competition-mgm-osaka-3466671

0 ( +1 / -1 )

Casinos are often the largest employers in a region, with major commitments in terms of wages and benefits

I think someone forgot to tell the workers at MGM Grand and Caesars in Las Vegas that message of how well they are being paid in salary and benefits; otherwise, they wouldn't feel to the need to strike over only working for Nevada state minimum wage plus tips (which tips/gratuities happened to be pooled by shift, so it's quite possible for one shift / group to earn more than another shift / group for the exact same basic task).

https://www.reuters.com/markets/us/thousands-las-vegas-hospitality-workers-picket-mgm-caesars-casinos-2023-10-09/

5 ( +5 / -0 )

The casino gambling industry in the U.S. generates nearly $329 billion a year in economic activity..

Why not legalize all other vice related activity, trillion+ a year in economic activity / GDP is guaranteed...now make all vice related activity including gambling illegal and than review the GDP..data will be shocking..

3 ( +3 / -0 )

the industry's economic impact in 2022 was up 26% from 2017, before the COVID-19 pandemic hit.

By the way, the total inflation in the US between 2017 and 2022 is about 20%. So the net rise is not that dramatic. Also, previous studies show that people with lower incomes are the major contributors to the gambling industry which could be an indicator of the population getting poorer.

0 ( +1 / -1 )

One more thing is that gambling is also associated with the number of psychological, medical and criminal problems which also generates a significant economic activity in the field of healthcare, insurance and law enforcement area, supporting even more jobs (e.g., doctors, policemen, prison workers, lawyers, insurance clerks etc.) ;)

2 ( +3 / -1 )

Casinos are good, of course for the owners, but also for the economy, the tax influx and for most of the players. Admitted, there are some problems possible if you don't inform yourself or play the less advantageous games, but that's the same with any other investment, stocks, forex, derivates and options, gold, blockchain coins. No one complains the much bigger risks or dramatic losses there, but all are suddenly united when it's about bashing casinos. I have no understanding for that unfair approach. Look, even if you lose a little money, you've been splendidly entertained. Do you really feel such more entertained when losing big with investment funds, stocks and bitcoin? Come on, be honest to yourself... lol

0 ( +0 / -0 )

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