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