Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Term Paper:
Casinos also pay taxes to the government which again means that the local community loses the money gained by the casino. Another way in which the local economy does not benefit from the casino is when the casino gets its supplies from external suppliers or the casino owners live outside the casino's economic area. Some of the casino profits can also be lost as a result of government services provided in that area like providing better roads and traffic control to the casino. (Hsu, 1999)
The casino may also require additional police protection and judicial activity in case criminal activity goes up in the region. Las Vegas has also had its own share of problems as an off-shoot of the phenomenal success of casinos there. It has had to deal with air pollution, shortage of water, inadequate methods of mass transportation and other infrastructure related problems. Despite these problems, Las Vegas has become a classical case of casino success with 30 million tourists flocking to the Las Vegas casinos every year. Approximately 90% of the money in the Las Vegas economy comes from casinos. The casino leadership is extremely strong and is aware of the needs of the local community. It is prepared to deal with the problems associated with casino gambling so that the community remains economically strong. As a result, not many people are bothered about the impact of casino gambling on the local community. (Hsu, 1999)
It has been found that a casino can eat into the profits of other local industries. This cannibalization can affect the local economy to some degree. In order to attract more customers, casinos often resort to offering several goods and services free of cost or at heavy discounts. These goods may take the form of food or beverages which may compete with local dining industries and often drive them out of business. Legalized casino gaming can also reduce the profit margins of other forms of legalized gambling like dog racing, horse racing or bingo. (Pierce; Miller, 2004) a study conducted by the National Opinion Research Council under National Gambling Impact Research Commission in 1998 found that pathological gambling in the State cost the society $5 billion per year. In terms of creditor losses and productivity reduction, the cost to the society was $40 billion. On the other hand, apart from increased tourism activity, tax revenues and property values, casino gambling has also spurred the growth of the hotel industry as well as construction activities in the local area. (Florida Council of Compulsive Gambling, Inc., 2004)
In a study conducted on the effect of the addition of a casino in Omaha, Nebraska, it was found that the area's poverty rate would not be significantly affected. It would affect the local economy positively by reducing local gambling expenditure outside the community as well as increase the amount of dollars spent by tourists in the local area. Out of the 57 counties who have legalized casino gambling, 33 have reported job gains whereas 24 have reported job losses. Tax collections have also increased by 19% per year between 1996 and 2001. Casinos in South Dakota and Colorado have imposed restrictions on casino gaming in the form of an upper limit of daily losses as well as disallowing credit. Another trend that has been witnessed is that tax growth and revenues are highest in the first five years of a casino's lifetime. (Goss, 2002)
Several rural communities in the U.S. have implemented one or the other form of casino gambling as a way to revitalize their flagging economies. Casinos in places like Black Hawk in Central City, Deadwood in South Dakota and Cripple Creek in Colorado have met with different levels of success in casino gambling. It has been the experience of these communities that casinos can, at the same time, generate tremendous profits as well as run up huge costs. Therefore, it is essential that community members, leaders, casino owners, casino managers and public officials analyze the issues that might affect the community directly in making the changeover to a casino gambling economy. An unrestrained change to a gambling economy can bring in massive and drastic transformations to the lives of the community members. Thus, it is evident that planning is required at every level of this industry including the community, government and the casino management. This planning effort should include an assessment of present and future competition, analyzing a suitable scale of operations and determining the beneficiaries of the proposed casino setup. (Long, 1996) Having seen both the negative as well as positive impacts of casino gambling on the economy of an area, it is essential to analyze both sides of the story and come to a balanced conclusion that will result in a win-win situation for everybody. (Goss, 2002) the Las Vegas model has shown what a balanced approach to casino gambling can bring to the economy of the local community. (Hsu, 1999)
Brome, Heather. (2006, Sep) "Economic impact of casino development" Retrieved 23 April, 2008 at http://www.bos.frb.org/economic/neppc/memos/2006/brome091406.pdf
Felsenstein, Daniel; Littlepage, Laura; Klacik, Drew. (1999) "Casino Gambling as Local
Growth Generation: Playing the Economic Development Game in Reverse?" Journal of Urban Affairs, vol. 21, no. 4, pp: 409-421.
Florida Council of Compulsive Gambling, Inc. (2004) "Economics Effects" Retrieved 23 April, 2008 at http://www.gamblinghelp.org/sections/effects/economic.html
Goss, Ernest. (2002, Aug) "The Economic Impact of an Omaha, Nebraska Casino" Prepared for the Greater Omaha Chamber of Commerce, Retrieved 23 April, 2008 at http://www2.creighton.edu/fileadmin/user/COBA/EconomicOutlook/docs/gambling.pdf
Goss, Ernie; Morse, Edward. (n. d.) "The Impact of Casino Gambling on Bankruptcy Rates:
County Level Analysis" Retrieved 23 April, 2008 at http://www.issuespa.net/resources/pdf/impact_on_bankruptcy_creighton
Hsu, Cathy H. (1999) "Legalized Casino Gaming in the United States: The Economic and Social Impact" Haworth Press.
Long, Patrick T. (1996) "Early impacts of limited stakes casino gambling on rural community life" Tourism Management, vol. 17, no. 5, pp: 27-31.
Morse, Edward a; Goss, Ernest P. (2007) "Governing Fortune: Casino Gambling in America" University of Michigan Press.
Moufakkir, Omar; Holecek, Donald F. (n. d.) "Impacts of Detroit's Casinos on the local community" Retrieved 23 April,…[continue]
"Casinos Help Turn Around Local" (2008, April 28) Retrieved December 5, 2016, from http://www.paperdue.com/essay/casinos-help-turn-around-local-30298
"Casinos Help Turn Around Local" 28 April 2008. Web.5 December. 2016. <http://www.paperdue.com/essay/casinos-help-turn-around-local-30298>
"Casinos Help Turn Around Local", 28 April 2008, Accessed.5 December. 2016, http://www.paperdue.com/essay/casinos-help-turn-around-local-30298
Round Schooling: Implications for the Current State of Public Education The media has recently reported an array of problems with the public education system including criticisms of teacher effectiveness, lack of funding, and continued decline in academic achievement in comparison with other nations. Schools are facing a rise in class size with reduced support in regards to materials, finances, and staff. Despite government legislation, including the No Child Left Behind
Piaf," Pam Gems provides a view into the life of the great French singer and arguably the greatest singer of her generation -- Edith Piaf. (Fildier and Primack, 1981), the slices that the playwright provides, more than adequately trace her life. Edith was born a waif on the streets of Paris (literally under a lamp-post). Abandoned by her parents -- a drunken street singer for a mother and a
There is an ever growing demand for nurses in the Henderson area- an area that is already in short supply. The problems that Henderson is facing are very cyclical in nature. A lack of educational attainment in the area leads to a lack of trained professionals, like nurses. And yet with the high amount of drug usage that is going on in the area this is the one profession
Boyd Gaming is facing a challenging operating environment. The company is shrinking, having demolished the Stardust and placed construction of its replacement project -- the Echelon -- on hold. The past few years have also seen a challenging economic environment. Through this, Boyd has continued to be profitable, but the company is facing a period of stagnation. This analysis will take a look at Boyd Gaming, and attempt to determine
high degree of misinformation I had received from traditional teachings about the church and the beginning of Christianity. Moreover, I was struck by the notion that most other people in the Western world receive this same degree of intentional misinformation, so much so that I have even heard people defend the idea that knowledge of the historical church is irrelevant to modern Christianity. Reading through the class material, I
The detail that Playboy did grow so far, so fast is the evidence to the Playboy product. it's far easier to generate a product to meet consumers' existing wants than it is to make an apparent need to meet the business objectives of an existing product. Second, it's an instance of the authority of a strong brand champion, Hugh Hefner, playing the role of noticeable brand supporter since the brand's
Higher Education Should Be Free Should higher education in the United States be free? An examination of available evidence suggests that it should be. I hope to go through a number of the most persuasive argumens as to why higher education in the United States should be regarded as a public good (like clean air or working highways) rather than as a market commodity (like iPhones or Furbies). The United