Regulated gambling could create 13,000 jobs, report says

CASINOS AND ONLINE gambling sites could create 13,000 new jobs and generate €280 million in exchequer returns by 2020, according to a report commissioned by the Gaming and Leisure Association of Ireland.

The association is calling for the casino and gaming sector to be regulated to achieve the maximum economic benefits from both traditional casinos and online games.

The report, written by DKM Economic Consultants, claims regulation of the gambling sector could generate €50 million annually in revenue to the exchequer.

This income would be generated through gaming and corporation tax, PAYE/PRSI contributions and commercial rates from "land-based" or traditional casinos.

Online casinos could be even more profitable, generating up to €230 million per annum in revenue to the exchequer.

They could employ 10,000 people over the next 12 years in the IT and financial services sectors and support services such as accountancy, taxation, advertising and legal services, the report stated.

Author John Lawlor said that online gaming industries were seeking bases in countries such as Ireland which have well-developed IT infrastructure and skilled staff.

"The online sector is currently largely based in offshore locations that tend to suffer from limitations in terms of IT infrastructure or specialist skill sets.

"According to the industry sources we have consulted, they would prefer to move onshore to more established and larger jurisdictions, but no such jurisdiction has moved to adequately accommodate them as of yet."

The Government's casino committee highlighted a need for regulation of the industry to protect consumers. However, this regulation could also be used to ensure that the maximum economic benefit was drawn from the sector, the report stated.