The Economic Perspective: “Can Casinos Revive a Local Economy?”

I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program asks if casinos can revive a local economy.  Mike, new legislation in Virginia may allow local communities to have a vote authorizing casino gambling. Many see this as an economic development tool.  Can casinos provide this?

  1. Of course, we think of what gambling has done for Los Vegas
  2. But studies of casino gambling in smaller communities show mixed results
  3. Many factors to consider
  4. Economic: will new people come, or just displacement of other local spending
  5. How much will stay in the community
  6. Then, also worries about crime and addiction
  7. Regarding economic questions, studies that do show a positive impact indicate it is small
  8. I’m MW

Mary:  And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.