A casino is known as a gambler’s paradise, but actually it goes beyond this. They provide jobs for the citizens, while they provide a source of revenue for the government.
Many of those who have lived near casinos have had their infrastructure and public services rapidly improved.
Gambling throughout history has worked in cycles, from intolerance to tolerance and back. Usually, it starts with the government
needing revenue, but at the same time it is trying to avoid a backlash from raising the people’s taxes. The politicians enact a
law allowing gambling and the construction companies roll in and begin construction of the casino. After construction it is
open for business, where it provides employment for the locals. During the growth stage the locals enjoy improved
infrastructure and services in their locality. However, after sometime social problems start to appear
like crime and gambling addiction, the government is forced to regulate the industry, because of the public outcry.
It is important to note that actually 98% of gamblers do not develop addiction. Thus, the bulk of customers
spend their money without a problem. It is important to distinguish what do we
consider as problematic, does someone who spends slightly over $10 beyond their budget have a problem?
The Mecca of gambling has to be Las Vegas as its streets are littered with gambling establishments. The
gambling industry in Vegas started in the 1930s when the jurisdiction legalized gambling. Bugsy Siegel,
who was an infamous mobster and creator of Murder Inc., built the first casino in Las Vegas. He would offer free food, beverage and accommodation to his celebrity friends
to encourage them to gamble. Today establishments like New York and the Bellagio line up the streets of Vegas.
Unlike the traditional ones the modern day casinos are known as casino resorts. They are known as such, since they
offer other operations like theme parks, restaurants and even art galleries. Some even have shops where you can buy souvenirs,
and even do your regular shopping. Other hospitality operations like restaurants and hotels used to be seen as loss leaders as they
were given free to the high rollers. However, with the times changing, every dollar is seen to add to the bottom line, so nothing
is taken for granted. Though this may be the case around 10% of accommodation is always reserved for free to high rollers at all times.
The industry has come of age and gambling has rid itself of its
perceived notorious image, and has even grown to be a place where the whole family can have fun.
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