Are casinos bad for cities?

  • Thread starter Thread starter Shells
  • Start date Start date
Shells

Shells

Carpe diem!
Loyaler
Awards
15
CA
Poker Chips
797
Casino Coins
0
The Bloomberg editorial department has posted an op-ed concerning new casinos and their profitability in New York. I'm not sure many people were aware that the New York Gaming Facility Location Board and the New York State Gaming Commission have approved Las Vegas style casinos in Queens and the Bronx. The opinions expressed by a group of nine journalists believe that casinos often miss the mark on profits and benefits of casinos, which end up potentially hurting surrounding businesses.

It's quite an interesting short article based on opinions only from Bloomberg journalists.

Do you think the journalists have missed the mark with their opinions?

Bloomberg: Casinos are Bad Bets for Cities, Including New York​


shutterstock_2438247469-858x564.jpg
 
It probably depends on where you place them 🤔 The right place is enough far away from everyone 🛣️
No-one in their right mind is suggesting placing one on the Upper East Side or other places where the rich are located. But hey, let's put one on Bronx. I'm sure it fits right in 🙄
 
It comes down to taxes.

They benefit cities from a tax rev standpoint, but they also tend to breed problem gamblers, which is a tax on society.
 
Well I think putting them in cities directly is very unusual but "the three casinos will deliver $7 billion in incremental tax revenue between

2027 and 2036, plus $1.5 billion in immediate upfront licensing fees." is self explanatory, I might agree with the crime or problem gamblers

but you could say the same things about big box stores or Amazon centers as far as being self contained or hurting local businesses....,

time will tell👍
 
Journalists do what they are paid to do. When a businessman starts a new project, in most cases he has a well-thought-out plan and specific calculations. I think that those who start a business understand more than journalists, whose job is essentially to inform the public.
 
Casinos help boost local retail sales.The city is a living organism. It has a rhythm, a breath, its own streets and squares, where every step is governed by the rules of an invisible architecture. This rhythm also allows for excitement. Casinos don't appear by chance; their placement, appearance, and surroundings are carefully considered.The streets leading to the halls, the lighting, the signs, the shop windows—all of it works to one end: to entice, to seduce, to build anticipation. The player, without even realizing it, senses this rhythm. They follow the emotion, and the city draws them like a magnet.
 
Reply
  • Haha
Reactions: Mauricio Perrotta
I think they raise some valid concerns, but it’s not that black and white. Casinos can hurt local businesses if poorly planned, but with good regulation and integration they can also create jobs and tax revenue. It really depends on execution, not just the idea itself.
 
I think for the most part the answer to these kinds of questions is always "it depends" but, in this case, we can say that in many cases the effects are not positive. Now, if there was some way to limit admission only to people in a certain tax bracket, then it could be a clever way to extract more taxes from people who can afford to pay more.
 
Like the old real estate adage says…location, location, location…a casino in New York will not appreciably add to tourism…there’s enough to do already…there’s a small casino at the racetrack in Toronto…it’s no big deal, but they are trying to bring in big name entertainment. Niagara Falls is a big tourist attraction, but the casinos on both sides of the border add to the value…the Jack casino in Cleveland was OK, nothing special…to be successful, a casino should be high end…that works for Vegas.
 
Definitly depand wich city i guesss...Las vegas would disagree it was bad for them but atlantic city migth have another opinion on the matter.
 
Shells said:
Do you think the journalists have missed the mark with their opinions?
Click to expand...

I think they're probably right about the surrounding small businesses in risk of losing some profit. But if those casinos can deliver what they're promising, in terms of creating that many jobs and paying that much money in taxes, then the Bloomberg people are probably exaggerating in their statements, motivated by some political matters.
 
I think that casinos are neither good nor bad on their own, it all depends on how they are regulated and the context of the city. On the one hand, they can generate jobs, tourism and higher incomes for the area. But on the other hand, if there is no control, problems such as indebtedness, gambling and certain crimes can increase. In my opinion, the real impact depends on clear rules, support for prevention and that economic benefits are truly reflected in the community.
 
yomyyomy said:
I think that casinos are neither good nor bad on their own, it all depends on how they are regulated and the context of the city. On the one hand, they can generate jobs, tourism and higher incomes for the area. But on the other hand, if there is no control, problems such as indebtedness, gambling and certain crimes can increase. In my opinion, the real impact depends on clear rules, support for prevention and that economic benefits are truly reflected in the community.
Click to expand...
I fully agree with the comment made here by @yomyyomy .
 
I think that small businesses (cafes, restaurants, etc.) will suffer a lot because of casinos.
 
Isn’t there already a giant casino in New York? It’s called Wall Street. 😉
The funny thing is, the debate about casinos and whether they’re “bad for cities” reminds me a lot of how financial markets reacted during the Trump tariff period. When the tariff announcements came out — sometimes suddenly, sometimes via tweet — the markets often behaved almost like gamblers reacting to a surprise roll of the dice. Prices jumped, dropped, or swung wildly based on uncertainty rather than long-term fundamentals.
 
It is a very complex issue. While casinos definitely create jobs and bring in immediate tax revenue, they often act as a vacuum for the local economy. People tend to spend their entire budget inside the casino complex — on food, drinks, and entertainment — instead of visiting the small businesses in the surrounding neighborhood. In that sense, the journalists might have a point about the negative impact on local shops and restaurants.
 
Well if we consider that las vegas was just sands before casino..Hard to say
 
I am convinced that such entertainment venues only contribute to the development of infrastructure, which is definitely good for the city. It may not be very good for irresponsible and weak-willed people living in this city, but that's another matter 🙂
 
No I don't think Casinos are bad for citys. They produce taxes and provide entertainment. I wonder why they should be bad? Because they feed gambling addicts with games?
 
I think for big cities, casinos are more of a benefit than a harm. As for small cities, it's hard to say, everything is very individual.
 
They are almost certainly a net negative, but to what degree they are negative probably has a lot to do with regulations, ownership of the casino (is it locally owned or a chain owned by foreign shareholders?) and the degree of support available. I think the degree to which they are bad is probably worse than movie theaters but less bad than big arenas for organized sports that promote sports betting.

That said, there are far worse things that have much more detrimental effects that are totally normalized. The idea you can just get carcinogenic empty calories that make you more likely to be violent to go with a meal almost everywhere you go and is advertised on TV is wild to me.
 
Its clearly true that casinos cause all kinds of issues . So do card rooms , bars , pool clubs , pot dispensaries , smoking lounges , pawn shops etc etc . what are you gonna do ? if the public supports those businesses they are providing a service , and they probably should be allowed ,
 
They’re partly right, but a bit one-sided.
Casinos are often overhyped—they don’t always create as much new wealth as promised and can pull spending away from local businesses.
So that criticism is valid.
But the flip side is that in a huge market like New York City, a well-run casino can still generate strong revenue, jobs, and tax income, especially if it attracts tourists.
They didn’t completely miss—but they’re leaning pessimistic. Reality usually lands somewhere in the middle.
 
Casinos are business. Business is taxes, it's jobs, so it's a benefit for the city and a benefit for the population. But anyone who wants to find a bad side to it can always do so.
 
Back
Top