How a Casino Helps Popularize Universities
There are many reasons why a casino might help popularize a university. For one, casinos are often part of a vacation, so many tourists spend a few days in a city playing games and eating out. This can increase local retail sales. Additionally, a casino might provide a lucrative internship for students interested in the industry. Regardless of how the casino makes money, universities often benefit from their presence. This article will highlight some of the ways a casino can help popularize a university.
One possibility is that casinos can help boost education spending. Casinos generate revenue that state governments can earmark for education. If a casino generates $100 million in tax revenue, the state can increase total education spending by that amount. The alternative is that the state can reduce its total education budget by that amount and spend the money elsewhere, bringing overall education expenditures back to pre-casino levels. In either case, the casino is helping to popularize universities in a state, and the tax money is a major plus for local retailers.
The casinos attract skilled workers. The decrease in unemployment rate is higher in local neighborhoods than statewide. The casino has also increased the number of people with college degrees. As a result, the unemployment rate is lower, which is generally interpreted as a good sign for local employment. However, while the casino has increased local employment, the number of casinos not on gamstop low-skilled residents has remained constant. While the new arrivals with higher education have gotten jobs with the casinos, the lower-skilled population has not seen much of a bump in employment rates.