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Positive and Negative Economic Aspects of the Gaming Industry

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What are three positive economic aspects to the gaming industry and three negative economic aspects to the gaming industry?

Explain these items in detail from the perspective of the first eight pages of the following reading:

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Solution Summary

The three positive economics aspects to the gaming industry and three negative economic aspects to the gaming industry are examined.

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American Gaming Association (AGA) is presented the survey of casino environment. This report represents that impact of commercial casino on economy. According to the results of AGA survey report, casino and gaming industry contributes in the growth of economy through developing new jobs, tax revenue, increased tourism, economic development, etc. Manufacturer of gaming equipment also generates revenue, employment and taxes that contribute in the economic growth of country (AGA, 2012). But casino or gaming industry also have negative impact on the economy through affecting the business of local firms and by increasing the cases of bankruptcy, suicide, crime, etc.

Positive economic aspects of gaming industry: Gaming industry contributes in the growth of economy through generating revenue, employment and taxes for country. Following are the positive economic aspects of gaming industry:

Increase in revenue: According to the results of AGA survey report in 2011, revenue of gaming industry has increased continuously in past years. Commercial casino industry's revenue was increased by 3% from $35.64 billion in 2010 (AGA, 2012). Fifteen states' gaming revenues has increased in 2011, due to opening of new casinos during the year and due to increase in customer spending in casino for entertainment rather than music, movies, television, etc. Due to increase in revenue, states earned more gaming tax that positively contributed in the growth of GDP that is positive for an economy ...

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