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Inefficient markets

Close scrutiny of the supercasino applications reveals that the mooted benefits of job creation and regeneration may not be quite so clear as they seem

By Michael Prest   March 2007

Murky benefits of the supercasino For all the moral indignation over the government’s decision to allow a number of new casinos, the assumption among opponents and supporters alike is that casinos do indeed create jobs and help to regenerate run-down areas. That was certainly what many people in Manchester said when it won the right to establish the country’s first “supercasino.” But the benefits may not be quite so clear.

According to the department for culture, media and sport, about 140 casinos are already operating in Britain, and gambling is growing rapidly—a fact the culture secretary Tessa Jowell cited as…

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