There are tons of land-based casinos spread all across the Canadian territory. Sure, there are parts of Canada where you cannot play casino games since Canadian gambling regulations are administered at a provincial level. Apart from Prince Edward Island, Newfoundland and Labrador or New Brunswick where you can only opt for offshore online casinos, other parts of Canada are filled with incredible brick-and-mortar casinos. Anyway players may enjoy games at home thanks to online sites.
Casino’s Positive Impact on the Canadian Economy
And since the majority of Canadian provinces have legalized some form of gambling, it is needless to say that the gambling industry is currently on the rise. The total casino revenue in CA is around $31 billion, while 15% goes to taxes. Namely, only three Canadian provinces have legal bans against gambling. According to statistics, Canada has 88 full-services land-based and 32 land-based casinos with limited gambling options.
The economic influence land-based casinos have on Canada is greater than you might think. The trade benefits this industry brings to the Great White North made it relax many gambling laws in various provinces. Still, all the venues need to have a license in order to operate legally. Also, the economic impact of gaming in Canada does not stop there, since Canada has 135,000 residents who are working in the gaming industry.
Moreover, gambling might be one of the greatest forms of entertainment for Canadian residents but also tourists. Here are some of the land-based venues that are currently making the greatest contribution to the country’s economy.
● Caesar’s Windsor
It is known that Ontario is the Canadian province with the most land-based casinos. It is also responsible for 43% of the total gambling revenue. Namely, there are 44 casinos in Ontario, and one of them is Caesar’s Windsor on the Windsor Riverfront. During the past decade, Canada has recorded an increase in the luxury land-based casino launching.
In addition to the casino venue, Caesar’s Windsor offers a 4-diamond hotel, restaurants, and a stage for public performance. And while the Canadian Income Tax Act regulates all winnings from playing casino games, this is not the only way the country benefits from casinos such as Caesar’s Windsor. Development of the industry and launching luxury casino resorts create many local job opportunities.
● Fallsview Casino Resort
Another great resort in the same area, Fallsview Casino Resort is yet another place where people from Canada can gamble. Just like the luxurious Caesar’s Windsor, Fallsview Casino Resort offers much more than an exciting gaming experience. This 4-diamond hotel, resort and casino are some of the greatest tourist attractions in the province.
Apart from overlooking one of the Canadian famous waterfalls, Fallsview it affects Ontario’s visibility and contributes to its economy. Niagara Casinos also has a tradition of corporate sponsorship for community events, and the brand is a sponsor of Niagara fundraisers. When talking about financial contributions, Fallsview Casino employees usually donate thousands of volunteer hours in favour of local tourism as well as non‐profit organizations.
Casino Brings Tourists to Canada
Those in favour of gambling claim that this industry helps bring a significant amount of tourist money to the country. According to some tourism studies that suggest that land-based casinos can have a positive economic impact on the region. In a pool made to prove this claim, 35% of people agreed that gambling attracts tourists to Canada. Also, placing land-based casinos within luxurious resorts and near some tourist attractions can significantly affect this theory. Thus, some provinces tend to launch destination casinos targeted at tourists.
Take Fallsview Casino Resort and Niagara Falls for example. People who love sightseeing and gaming will definitely choose the resorts over any other nearby accommodation. In addition, US states surrounding Canada might not have that relaxed gambling laws. In other words, fellow casino enthusiasts from the neighbouring 12 states and Alaska tend to visit Canada in order to play various casino games.
And while different parts of Canada have a different opinion on gambling tourism, Ontario and Quebec are surely in favour of the trend. According to 42% of the respondents, promoting tourism via casinos is a good thing. This is not odds since these provinces are the leading ones in both numbers of casinos and gambling revenue. However, there are also regions that disapprove of the idea. Thus, 73% of respondents in Prairie and 84% of respondents in the Atlantic region think that promoting tourism via casinos is not needed.
Are Online Casinos Bringing Money to Canada?
The evolution of the internet gave birth to another type of gambling – online gambling. And while more and more regions across the world are embracing online gambling, it is still illegal to operate online casinos within the borders of Canada. However, most provinces allow gambling via offshore operators. It is important to note that the whole of North America’s offshore gambling market is worth billions.
Thus, no Canadian online casino operator can bring the country any economic benefits since there is no such operator. On the other hand, if Canadian residents want to spend their money on offshore operators, they can do so at any website which is legally registered to operate. These online casinos are considered, legal, licensed and regulated by the surrounding local governments. Also, there are online casinos managed by the local governments and they are used to generate revenue.
Bad Influence of Casinos?
As experts claim, land-based casinos can also have a negative effect on the country’s economy. Even if we talked about all the benefits casinos can have on a country’s economy, employment rate and tourism, it can also be a source of an economic drain and many other negative things. In general, some of the main consequences of gambling are:
- divorces
- bankruptcies
- debts
- stealing
- suicides
Gamblers who step into the world of addiction are the main cause of social misery – which is definitely not good for the country’s economy since the social costs of gambling addiction can be quite high.
Conclusion
All in all, land-based casinos in Canada have an incredible influence on the country’s economic state. If Canada could manage to collaborate with these casinos productively, the economic benefits could be unimaginable. And even if the land-based gambling sector is facing some tough challenges, the economic benefits of the industry keep showing.
