Economic Effects

Despite casinos’ poor economic record, Philadelphia pushes forward with second casino

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Philadelphia is hoping to buoy the economic prospects of its Center City area with a second casino, despite the fact that the state’s first casino has failed to produce economic growth and despite the fact that time and again, casinos hurt, not help, urban economies. This opinion piece from Next City explains why more casinos won’t make their economic effects any less harmful. Philadelphia’s Center City needs a breath of new life but casinos will not and cannot provide it.

Architectural Gimmicks Can’t Make Casinos Safe Economic Bets

LesDespite casinos’ poor economic record, Philadelphia pushes forward with second casino
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Urban casinos hurt America’s cities, experts say

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Top urban experts agree: urban casinos are counterproductive to economic health, city- ruining of the highest order. Virtually every serious study that has ever been done of the economic impacts of casinos shows that their costs far exceed their benefits and that they are a poor use of precious downtown land.

2013 Top Urbanists Agree- Casinos Ruin Cities

LesUrban casinos hurt America’s cities, experts say
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Small businesses in the food and beverage industry hurt by surrounding casinos

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Casinos negatively impact small businesses in the surrounding area, especially those in the food and beverage industry. This article from Indian Gaming helps to explain the casino strategy to subsidize food and drink costs with gambling profits to help boost the overall revenues from gambling, which hurts small businesses around the casinos and helps lure players into the casino.

Maximizing the Results of Casino Food and Beverage Outlets

LesSmall businesses in the food and beverage industry hurt by surrounding casinos
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Casinos hurt home values in host communities

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A new report from the National Association of Realtors shows how home values in western Massachusetts would be hurt by a casino in the area. Due to its addition of traffic noise and the general bother of an attraction that brings thousands of people in, a casino would have an “unambiguously negative” affect on home values in the areas, sapping as much as $3300 in value from the average homeowner. Below is a copy of the study itself, as well as an article summarizing its findings.

2013 Realtor study NAR- Casino-Research

2013 Realtors- Western Massachusetts casino would hurt home values in host community

LesCasinos hurt home values in host communities
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Atlantic City’s severe hardships continue despite plunging millions into casinos

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Atlantic City is known for its many casinos and for being, essentially, the Las Vegas of the east coast. The many casinos were brought into Atlantic City under the pretense that they would help the city out of its financial hole. However, even decades after Atlantic City legalized casino gambling and spent millions on the casino industry, according to this article by the USA Today, the city continues to struggle.

2013 Millions spent on casinos didn’t help Atlantic City

LesAtlantic City’s severe hardships continue despite plunging millions into casinos
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Even the most lucrative of casinos cannot save its surrounding city

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The Resorts World Casino is located in Queens, New York, and is known as the country’s #1 top grossing casino, reaping huge profits for the casino owners. However, if you take a look at the surrounding city and its residents, you will see that these immense profits have yet to rescue this city from its poverty, contrary to the promises upon which it was built. This article by The New York Times explains this situation and shows that, although casinos are often built with the promise of economic revitalization, even the richest of casinos don’t send the necessary help that the surrounding communities desperately need.

2013 In Queens, a Casino Bet Gone Bad

LesEven the most lucrative of casinos cannot save its surrounding city
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Casinos are no help for Detroit’s financial ruin

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This in-depth report by the Detroit Free Press chronicles the downfall of one of America’s great cities and explores the many reasons behind the city’s financial collapse. Though originally heralded as a possible savior for the city, casino gambling became just another factor in the downfall of Detroit. Gambling, and the tax increases that often went along with it, were one of the factors the article identifies as contributing to Detroit’s decline.

2013 How Detroit Went Broke

LesCasinos are no help for Detroit’s financial ruin
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20 years after casinos opened in Gary, Indiana the city still struggles

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Since the decline of the steel industry, Gary, Indiana has been a city struggling to keep up. Twenty years ago, Gary opened its first casinos, spirits buoyed by the casino industry’s lofty promises of economic development and help for cities in need. Now, after two decades of casino gambling  and two decades of struggles in Gary, lawmakers are beginning to see that those promises have not panned out.

2013 Gary mayor hopes to finally revive her struggling city

Les20 years after casinos opened in Gary, Indiana the city still struggles
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A look into the economic and fiscal impacts of casino gambling

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This report, from Wichita State University, gives an unbiased and detailed look into the economic and fiscal impacts of casino gambling in Kansas. It gives a balanced and nonpartisan look at how casinos impact the area around them.  Below is the report followed by FAQ’s answered by the author.

2007 Wichita State Univ Fiscal and Economic Impact Study

2010 Wichita State University FAQ of study on city impacts of a casino

2010 Wichita State University More FAQ of study on city impacts of a casino

LesA look into the economic and fiscal impacts of casino gambling
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New study reveals economic impacts of Philadelphia casino

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Below is an informative study from Temple University that delves into the economic impacts of the Foxwoods Casino in Philadelphia, PA. After examining all the evidence, the study concludes that the claims that casinos will bring in revenue and jobs is based on incorrect assumptions made by casino owners. It serves to prove the need for studies of casinos independent of special interests.

2007 Frederic Murphy Study of Philadelphia’s Foxwoods

LesNew study reveals economic impacts of Philadelphia casino
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