We all know, big money is circling through casino and gambling businesses, but what is the actual number? Millions, billions or maybe more?
The industry is huge, and the whole industry contributes significantly to a country’s economy. Casinos are areas where people can play some games in forms of gambling. Because of that connection between game and gambling, the whole industry is on the rise. The casino industry has a huge revenue, in every county, not only in Las Vegas (US).
In 2016 alone, land based casinos had a gross win of around $450 billions from players and gamblers. Apart from land based casinos there is another casino industry in rising — the internet casino industry had grown from $2.2 billion in 2013 to $3.4 billion in 2015. It’s an impressive growth trend in just two years.
How casinos help the country economy?
It’s never only about companies that hold casinos. There are so many other partners that benefit from the casino industry. If we talk about the country, in 2013 in the US alone, the industry has paid $38 billion in local, state and federal taxes through gambling fees, property taxes and income taxes.
There was one study about Las Vegas tourists, and a significant percentage of them said a reason for their trip was to go to a casino. But that is not just about casinos, it’s just a start that has an impact on other businesses. Tourists are renting apartments to sleep, buying gas, meals, paying for VISA, etc.
The largest casino market in the world
No, it’s not Las Vegas! Macau, a special administrative region of China surpassed a previous leader Las Vegas as the largest gambling market in the world in 2006.
Casinos have an impressive impact on the economy in Macau. Just look at how big was their gross gambling revenue in 2014, $44 billion! And in 2007 they had only $10.5 billion.
Casino location should attract tourists
In the second largest gambling market, Las Vegas, most of the casinos are located in a tourism area. It’s not only about gambling; the area is full of large resorts and entertainment facilities.
Las Vegas attracted almost 43 million visitors in 2016 alone, and be aware that a big percentage of them only came to visit a casino and they indirectly help US economy.
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