Pros of gambling are that they boost the local economy. Not only does it bring in money but it offers numerous employment opportunities to many people.
Cons of casinos is that they may lead to gambling issues which is a big concern. In addition, people may go to a casino and spend money that it to be used for household expenses. This can be very damaging to a family.
Casinos provide a tremendous economic boost to the tribal communities that host them. Several peripheral businesses spring up around casinos and increase the hospitality/tourism trade in the area. Casinos provide hundreds of new jobs, often offering specialized training in order to attract and retain employees. Casinos also furnish extensive advertising that brings visitors to the area. Finally, the enrolled members of the host tribe benefit directly with dividend checks from casino profits.
The previous post certainly hit the major points, I think. I would add that in addition to providing jobs for casino employees, casinos contribute to the economy of a city by acting as major consumers of goods and services. In order to operate, for instance, a casino purchases food, beverages, liquor, utilities, advertising, office supplies, maintenance supplies and equipment, and local entertainment. The initial construction of a casino funnels millions of dollars into the local economy, also. In terms of negative impact, casinos can siphon off revenue from other local entertainment venues, sometimes forcing them out of business.
This is a wide-open topic. I don't live in a city where casinos exist, so I am only hypothesizing when I suggest the following:
* provides an income for the sponsoring groups (especially Indian tribes, etc.)
* provides jobs
* supplies attractions which will bring tourists to the area
* with increased tourists and population brings increased crime
* creates addicts to gambling which is detrimental to families and communities
I think the pros and cons of Casinos are not much different from other forms of organized gambling such as lottery, tombola and horse racing. All such forms of gambling provide profit to the organizers, taxes to the government, and some entertainment to the customers (or gambler?). Of course for some customers the cost of the entertainment may be much more than what they can really afford.
I am not much of a supporter of gambling, but it looks like it is some thing which cannot be eliminated completely from human societies. It is perhaps, a part of basic and unavoidable human nature. The risk taking behavior which is at the core of all gambling is also a useful behavior for human development. And if gambling cannot be eliminated, I prefer it to be organized gambling rather than unorganized one, because it is easier to limit ills of gambling when carried out openly in the public eye. Of course this means that there should be appropriate checks and balances put in place to eliminate all kinds of foul play and excessive gambling.