Pros and Cons of Building a Casino in Your Neighborhood

Better Essays
Pro’s • New Jobs

• Entertainment

• Expand Tourism

• Contribution to Community

• Contribution to Charitable Organizations

• Lower taxes for Residents

• Tax Revenues

• Higher Wages

• Higher Property Value

• Extends Visitors Stay in Area

• Money put back into Local Economy

• Adds to a City

• Attracts People

• Traffic of People – Better Known

Con’s • Street Crime

• Prostitution

• Takes from Local businesses

• No New Businesses

• Erosion of Work Ethic

• Pathological Gamblers

• Increased Bankruptcy Rates

• Preys on Poor and Elderly

• Lost Productivity

• Traffic Congestion

• Entry Level Jobs – Low Paying

• Reality Money not re-spent in Local Economy

• No Taxes

• Environmental Effects

Three essential conditions must be simultaneously satisfied if a particular cost is to be classified as a private cost: 1. Gamblers must be fully informed

2. Gamblers must be rational

3. Gamblers must be required to bear the total costs of their gambling

If any one of these conditions fails to be satisfied, an element of social costs exists. For example, if gamblers cease work in order to gamble and gamble away their family assets, leaving their families to claim social welfare benefits, the rest of the community is bearing social casts. The gamblers may have mad rational decisions in that they know that the community will provide a safety net. They might have made different decisions had the safety net not existed. One distinction that must be made is between real and pecuniary costs. Real costs represent a withdrawal of resources from other potential uses- they represent a subtraction from society’s total welfare. Pecuniary costs represent costs borne by some members of the community but which are exactly matched by benefits received by others. For example, assume that

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Hai Siddarth, I like your post in the way you described but I do not find anything for implementing a new casino bill as you are a member of congress. As you said, there are so many pros and cons which come across while passing the bill. You had given a short and good discussion here and it would be more impressive if you would add up some more regarding passing bill. I got so much information which I do not fine in my research. Finally, I appreciate you work, keep up the good work! Regards…

    • 97 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Building Casinos

    • 382 Words
    • 2 Pages

    Due to the keen competition globally, building casinos for a country’s economic development has become a talk in town in different countries recent years. Even though many concern that building casinos would lead to some detrimental effects on citizens, the casinos should be built as the economic benefits are outweighed by the social effects it brought. To begin with, it is believed that building casinos can foster tourism, attracting more tourists and creating more job opportunities locally…

    • 382 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Opening: This presentation is to demonstrate the effectiveness of Team Dynamics and Conflict Resolutions. This presentation will show the following:  What makes a team effective  Pros and Cons of teaming  How different personalities can come together for a common goal  How the team builds mutual trust  How a team accomplishes their goals.  Finally, how different ideas can become a group idea. What makes a Team Effective? Team Organization Team organization is the first key to an…

    • 1760 Words
    • 8 Pages
    Good Essays
  • Satisfactory Essays

    for debate whether we build the pipe is pretty ridiculous. For one, the pipe crosses over sacred burial ground. To me, this is proof that a part of the American government has little or no regard for the Native American’s ways of life. The idea of building a pipeline through the gravesite of our founding fathers or important leaders would apall us, so why is it any more “okay” to do so through the gravesite of important Native people? What’s more, a leak or rupture in the pipe could cause oil to seep…

    • 205 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    make this happen for everyone to be happy? Before building the park there are many pros and cons. This would be great for the dog owners. It gives them a chance to take their dog in public with no leash, while building trust with owner and dog. The dog has the chance to interact with other dogs. It also saves the residents in local apartments from hearing the dogs cries and barks to be let outside. There would be less poop outside of your homes. For residents without dogs have no need to worry…

    • 318 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Pros and Cons

    • 602 Words
    • 3 Pages

    Standardised Testing Name: Institution: Abstract This paper explores two published books that touched on pros and cons of standardized testing in schools. Popham, (2001) and Sacks, (1999) suggest that through pros a student will have to pass certain tests to determine that he or she has acquired proficiency in various fields of study. According to the two authors, in cons the students who have mastery of the content, don’t show in the test; it mostly promotes teachers to teach tests and evaluate…

    • 602 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The governor of PA I think that building a nuclear power plant in East Pennsboro Township is a bad idea since it's expensive to run a nuclear power plant. It a good chance that it might be disaster in Pennsylvania,do remember what happened last time when there is a nuclear power plant in Pennsylvania it killed some of the people that lived there and homes.I know that you think that it will be worth it since generate energy faster than other sources but It's a nonrenewable source so it's can’t be…

    • 768 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Pros and Cons

    • 1252 Words
    • 6 Pages

    Exercise 2, page 27 a. I think women are better listeners than men. | Pro (yes, for, good) | Con (no, against, bad) | 1. Women are nurturing by nature. | 1. Tend to get too emotional. | 2. Like to listen and be supportive. | 2. Don’t see a problem in sharing your personal issues with others. | 3. Care to know all details and facts, no matter how long it takes. | 3. Will tend to feel they know it all. | 4. Will give advice based on personal experiences. | 4. Can often talk endlessly…

    • 1252 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Pros and/or Cons of Stand Your Ground Law The infamous George Zimmerman case has stirred the controversy around Stand Your Ground laws and brought these laws to the public light, becoming the subject of vigorous nationwide debates whether these laws should be repealed or not. Like many controversial legislative, Stand Your Ground laws have their critics and proponents, and both sides tend to make valid points in defense of their position. The goal of this paper is to show cons and pros of Stand…

    • 645 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Pros and Cons

    • 489 Words
    • 2 Pages

    time periods. The two stories both have their pros and cons of the society that is being portrayed in the text. The pros of the societies in the stories are found more in “The Voter” than in “Tribal Scars”. This mainly has to do with the fact that the society in Achebe’s story was based in a more recent time which allowed for the society to be more far and democratic and this would be the most noticeable pro throughout the stories. Another pro for “The Voter” would be that almost all of the…

    • 489 Words
    • 2 Pages
    Good Essays