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***GambLux EDITOR NEWS*** |
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Can land-based casinos stimulate regional growth?
[Sunday, July 09, 2006]
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Modernization (and relaxation) of the gambling laws in the UK can strongly stimulate regional development, says PricewaterhouseCoopers, a world leader professional services organization.
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They believe that the casino will act as a magnet to attract a wide range of other leisure developments such as a football stadium, entertainment centers, hotels and conference centers.
Many local authorities are accepting the view that for regions that have not enjoyed an economic revival in years, bringing in a casino can be the ideal solution. One key project, for example is the Glasgow Harbor scheme in Scotland. It is estimated that to transform the North Clyde waterfront will require a €1.2 billion investment. To set up an average casino can cost €250 million. Once the casino project is running, other investors will surely want to join, say the contenders for casino licenses. They are sure that this 'snowball' effect will drive regional growth.
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