Is Sri Lanka ready for a “Casino culture” ?
James Packer, the Australian
casino mogul was the reason for recent social unrest. Packer’s USD 400 million
offer welcomed with open arms by the Government led the opposition to openly
criticize the Government resulting in aggravation of the general public.
Foreign investors like Packer are
instrumental in bringing about the economic growth of countries like Sri Lanka.
They offer the opportunity of enjoying higher living standards to the general
public. The question is; “is Sri Lanka ready for a Casino culture?”
When taking a closer look at the
matter in hand it cannot be denied that opening of casinos has its advantages.
For instance they are capable of increasing the demand for goods and services
of non-gambling businesses such as Interior designing, fund transfer systems,
signage, furniture, security and advertising.
On the other hand there will be a boost in the inflow of foreign
currency via tourism. The Government also receives taxes from these
establishments under the betting and gaming tax. The positive picture these
facts create is quite enticing. But it should not be forgotten that the coin
has two sides.
Within the dazzling casinos there
are darker elements. The arising of pathological gamblers is only one such
element. Within these establishments there is unrestrained use of alcohol and
drugs. Illegal activities like drug trafficking and prostitution have ample
support to flourish in this kind of environment. Up shoot of crime rates is
obvious.
The negative impact on job
creation cannot be overlooked. The casinos bankrupt the businessmen that employ
a large population of people in their businesses. Thus their employees face a
threat of unemployment.
The damage caused to the society
by the pathological gamblers, alcoholics, drug addicts, prostitution and other
crimes along with the unemployment threats is devastating. The government will
have to incur expenses several times that of its income from casinos to fix
this damage. It is quite apparent that on the long run neither the government
nor the people gain by the establishment of casinos.