According to the report, it is important to consider certain elements to assess the impact of casino-led regeneration. Specifics about the
location are important and international evidence is mixed as to the success of casinos in regenerating areas. It is also important to distinguish the degree of additionality from the development, taking account of what could have been expected to have occurred in the absence of a casino; how much of the benefit will accrue outside the immediate area; and how far activity will be displaced from elsewhere.

As with most regeneration projects there are economic and social costs associated with casino-led regeneration. In the case of a regional casino there are potentially significant costs that would arise as a result of an increase in compulsive gambling.

There are a significant number of alternatives to casino-led regeneration. These include other examples of inward investment projects as well as more tailored supply side interventions. The viability of alternative options will be highly contingent on the local circumstances of the area.

According to the report, it will be challenging for any one of these alternatives to achieve the scale of economic benefits that could be secured through a regional casino due to the unique circumstances associated with such a project. However, the extent to which these benefits are truly additional is not clear and once the potential economic and social costs of a regional casino are included and a package of alternative options is considered, the difference is much reduced
and may be eliminated.

Source: A review of the alternative approaches to regional casino-led regeneration.

Communities & Local Government
London
Phone: +44-20 7944 4400

/02/2008

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Urban Policy > Economy knowledge & employment

Urban economy