NESDC urges caution on casino-based entertainment complexes
Entertainment complexes need to prioritise non-casino activities, council says
The National Economic and Social Development Council (NESDC) has urged the government to proceed cautiously with the establishment of entertainment complexes, emphasising the need to prioritise non-casino activities.
After the Cabinet's approval of a draft Comprehensive Entertainment Venues Act on Monday, the NESDC expressed concerns about the potential economic impact of casino operations.
While acknowledging the potential for economic growth, investment, and job creation, the council stressed that the primary focus should be on developing recreational tourism for families.
In a statement released on Monday, the NESDC highlighted that gambling revenue is largely considered a "transfer" of wealth, not a generator of economic value. The council warned that the economic benefits of casino operations may be less significant than anticipated.
The council recommended:
- Prioritise non-casino activities: The focus should be on developing family-friendly recreational tourism, with casino operations, if included, strictly controlled and limited in scope.
- Minimise casino impact: Casino operations should constitute a small portion of any integrated entertainment complex.
- Consider social impact: The potential social and economic consequences of casino operations must be carefully evaluated.
The NESDC urged the Ministry of Finance to conduct a thorough study on the potential benefits and risks of casino-based entertainment complexes, gather input from various sectors, and explore alternative economic drivers with potentially lower social impacts.
