Casino Economy

A casino economy refers to a situation where local development relies heavily on gambling and tourism rather than diversified industries. In such economies, revenue is often generated through gambling activities, which can create economic volatility because income depends on the fluctuating fortunes of the casino industry. This reliance might lead to uneven growth, social issues, or economic instability if the gambling sector declines. Essentially, it's an economic model where gambling acts as a primary driver of financial activity, similar to how a casino's success depends on winning or losing bets—making the broader economy sensitive to shifts in the industry's performance.