In 2005, the UK’s overhauled Gambling Act proposed new legislation for the building of 16 casinos in the country.
Local authorities bid for these casinos.
There were eight small and eight large establishments in different areas of the country.
The goal was not to increase the number of casino sites, but to regenerate and drive tourism in many areas.
While London is a major tourist destination on its own, adding more casinos to the mix drives a different type of crowd.
Countries have seen the impact of this sector in Las Vegas, Macau, and the tropics, considering alternative ways to drive tourists to visit the UK.
Historically, casinos have been linked with glamorous destinations such as Baden Baden and Monte Carlo, so authorities are pondering if adding more casinos in London would have the same effect.
In the shadow of online gambling
In the past couple of decades, brick-and-mortar casinos have been overshadowed by their online counterparts.
No one can fight the impact of the best slot sites, as they come packed with more games than ever, attractive offers, and a range of other features.
Online casinos are more convenient than land-based venues in the UK, allowing players to enjoy gaming on the go.
However, try as they might, they seem unable to capture the magic of land-based venues.
The best casinos in London, such as the Hippodrome, don’t just offer a gambling experience.
They offer a culinary journey as well as nightlife, and all of that comes in a deluxe, glamorous package.
More casinos such as this one would certainly attract players and tourists, who are always interested in seeing chic venues and feel invited to try it all.
How gambling can boost London’s tourism
Per research, London’s casino industry bolsters the city’s economy via various channels.
Most casinos are not just a gambling establishment.
They often come with exclusive restaurants, clubs, and other amenities that drive job creation and contribute to the GDP.
Casinos in London employ thousands of people across various roles, which boosts employment rates.
The largest benefit of more casinos in London would be the boost in the local economy.
However, adding more casinos to the city’s landscape can also open up tourism opportunities.
This could lead to greater job creation, as more people will be required to lead tours in the city.
On top of that, more casinos in various spots across London can drive tourism in the less desirable places in the city, in that way boosting the economy in other areas.
Another benefit would be the targeting of different demographics.
Casino goers primarily come from Europe and Asia.
Many of them are high-stakes players looking for exclusive experiences.
The shift in tourist demographics could attract a special kind of crowd to London if there were several new high-class casinos in the city.
Casino tourism affects other economic sectors.
If the plan works, it could result in the development of high-class hotels, high-end restaurants, clubs and bars, as well as designer retail shops.
All of that means a fresh infusion of money for the city, making London one of Europe’s most desirable casino destinations.
Possible concerns and challenges
The UK’s strict gambling rules, which are getting even tighter year by year, can have a harsh impact on this part of the entertainment sector.
Regulatory compliance and tough competition can put a lot of strain on resources.
Just recently, the UK government has been pondering increased taxes on gambling operators.
For online operators, the proposed tax hikes could rise up to 50%.
For land-based venues, the tax might potentially double from the current 15%.
A 30% tax would drive many smaller establishments out of business.
It could also deter new investors from even thinking about building new casinos in London.
This could potentially hamper any plans for expansion in this sector, driving tourism numbers down.
It’s not a question of if, but when it happens. UK’s government has a plan to address a £22billion deficit in public finances, and, unfortunately, gambling takes the first hit.
Faced with higher operational costs, casino operators in London and across the UK will rethink their priorities.
This could result in less favourable odds, lower payout rates, and fewer promo offers.
It remains to be seen if the taxes materialise and to what extent. If they’re acceptable and just a small bump, the government might see its casino plan through, essentially making London a new destination for casino fans.
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