It is common knowledge that gambling is one of the most effective ways to boost a city’s economy – but James Packer’s new casino will help to ensure that the local economy thrives. According to a recent report, the new $1 billion Crown Casino and Hotel will generate $440 million for the local economy. While the casino is still in its development stages, we can already see the how beneficial it will be to the city and the country at large.
The proposed casino and luxury hotel will be focused on high roller gambling, bringing in international tourists from all over the world. Not only will they be spending a great deal of money on gambling activities, their tourist dollars will also benefit local hotels, retail outlets and restaurants, sharing the wealth amongst a wide range of industries.
The new casino will also be great for the local job market. Over 1200 construction and development jobs will be created while the casino is being built and over 1400 jobs will be created at the casino and the hotel once construction is complete. With more residents employed, the financial market will see impressive growth, having more money to spend in the local economy.