140,000 Jobs Lost If Poker Machine Industry Disappears
The poker machine industry has conducted research estimating the total removal of the gaming machines would cut 140,000 Australian jobs and reduce gross domestic product (GDP) by $13.5 billion.
The research study, conducted by the Centre for International Economics, has been submitted today to the Productivity Commission inquiry into the gaming industry.
The study also found the removal of the industry would reduce annual tax revenue to State and Federal Governments by up to $5 billion.
The study was commissioned by the Gaming Technologies Association, representing the gaming machine manufacturers and distributors in Australia, to gain a clear and objective picture of the economic contribution gaming machines make to the Australian economy.
GTA’s Chief Executive, Ross Ferrar, “The contribution gaming machines make, whether economic or otherwise, is substantial and important to many Australians.
“We are delighted to contribute the Centre for International Economics’ independent research report to counteract emotive and unsubstantiated claims.
“Gaming machines are designed to entertain, are subject to government approval and are stringently controlled”, he added.
A 10 per cent reduction in the number of gaming machines in Australia would reduce employment by 12,000 people and cost the economy $700 million, according to the study. In its conclusion, the study said the best approach would involve removing regulations that are not effective in targeting problem gaming, which affects about 1% of the population.
The Centre for International Economics research report, “Gambling with policy”, is available at www.gamingta.com/libraryhttp://www.gamingta.com/library