There have long been discussions about housing a casino on the Isle of Wight, yet it has never come to fruition. So far, the reasons for this are unknown. It may be that major providers do not see the footfall needed. Yet a casino may benefit the Isle of Wight in more ways than one. Below, we give how a casino could benefit the local economy.
Employment
The current unemployment rate on the Isle of Wight is 4.9%. This puts it at 0.8% above the national average. Any businesses that could keep this number down would be a welcome addition to the local area and a casino would surely attract more investment due to the knock-on impact the added tourism would bring.
The average casino in the US employs 884 employees, but these are usually larger affairs than ones that would open here. However, a wide range of staff needs to be taken on and trained, from security to croupiers and hospitality staff. All this would boost the local employment rate massively.
When the casino becomes more than simply a gambling hub, this benefit gets even greater. If restaurants are attached, then you need all the relevant staff that would be required to run a hospitality business. Add a hotel like many casinos in the US tend to have, and even more people are employed. All this provides a wage for local people which will be fed back into the Isle of Wight.
Revenue
Around the world, gambling is undergoing a revolution. This is because many countries and states are realising the high levels of tax that companies are willing to pay to operate. From many states in America to whole countries like Brazil and Mexico, gambling is becoming more commonplace.
The main reason for this is that online gambling has opened a new playing field. There are now whole online mobile casinos that can be housed in the palm of your hand. These casinos have optimised their games and their interfaces, making it extremely efficient and user-friendly to play on a device. This has attracted a more casual gamer, turning the industry into one that generates USD 53 billion a year in revenue.
When this turns into tax, it swells the income of states and local councils. Not only that but many of these businesses are charged levies. These go back into funding help and research into those who face addiction problems. This offsets much of the fear communities may have about opening gambling establishments.
Reaping the Benefits Without a Casino
Even without a casino, there are still many ways in which the Isle of Wight can benefit from the growth in the sector. As many casinos now operate online, it presents possibilities for developers and software programmers to gain employment. If this could be tied into training and development programmes, the long-term impact could be fantastic for the isle. Even concepts such as the live dealer casino, where dealers and croupiers work in studios and stream to participants, could provide increased levels of employment and revenue.
