The Money laundering, and economic impact
If you take Macau, in China as an example, the number of prostitutes who were around 100 prior to the introduction of casinos evolved into tens of thousands as a result of them. In some countries, entire economies were crippled as a result of the introduction of casinos. Casinos cannot even be compared to the traditional forms of gambling. As of now there are around four casinos, some which have a board saying that permission would be granted only to foreigners.
But the fact remains that these casinos have no law and the law of the country does not apply to those who patronise or operate them. For example, not one foreigner who enters the country in order to gamble has declared the money they bring into the country, or the money they take out of the country, as a result of their winnings. So how do these people who gamble today in the casinos that are
available, play without money? How do they take their winnings out of this country?. It is clear that they use the ‘ Undiyal’ method of dealing which is a shadow market running parallel to the economy . Gopi the terrorist who was behind the recent revival of the LTTE had received 29 million rupees through this Undiyal method of money sending.
Then recently it was revealed that a State Politician from India who had come and won hundreds of thousands of rupees left the country without declaring any of the winnings. This also happened as a result of dealing through this “Undiyal” mode of swapping and transferring money. This shadow economy is unaccounted for and there is not a single benefit that the country will accrue.
Besides this, every country that promotes casinos has ensured that these are constructed beyond the capital city in order to negate the impact it could have on the national economy. If you take the United States, China, Russia and any other country which possess casinos, they have ensured that it be built in remote zones in order to curb the negative impact it could have on the economy and also prevent the casino economy from taking over the national economy.
But what have we done here? We have proposed the casinos to be built in the heart of the capital city. The direct impact of this is that the black economy that is created will overtake the country’s economy. We have to this day not assessed the real economic impact these ventures could have on the country except for estimating the amount of jobs it could create.
A shadow market and a black economy will most certainly be created with drugs, prostitution, human smuggling and small arms. A person who makes money by selling drugs will through gambling make the money legal. It will create a dragon that we would have no control over.