The state of Michigan and especially the city of Detroit has had a rough couple of years. The unemployment rate has skyrocketed, many large companies has moved away from the area and the poverty is amongst the highest in the country. This has led to many people gambling away their money in the hopes of winning big money to support their family.
But it isn’t all bad, as the 3 state-regulated and 23 tribal casinos in the state has employed more than 17,000 people – Either directly as a worker in their operations or indirectly by creating a need for more staff in local businesses around the casinos. A new study from Oxford Economics shows that the gambling industry is a $2.8 billion industry in Michigan, but a big portion of these funds goes out into the society again.
A total of $897 million is being given in salaries to the workers, which helps keep the unemployment rate at 6.7% instead of a possible 8%. Furthermore the casinos paid a total of $730 million in taxes last year from their revenues, showing that the industry can be good, despite all the negative impact it is receiving from many people.