Do the presence of Native American gambling casinos cause a reduction in property values?

Question

Someone said tonight that these casinos cause a decline in residential property values, and I was wondering if that was true.

I am hoping that a real estate agent or appraiser will answer this. If you don't know, it's okay - just please don't answer. Thank you!

Answer 1

In fact it does the complete opposite. People apposed to casinos, or just uneducated in this area will say it decreases value but its not true.
Lets look at this logically. What does a casino do? It employees thousands, which all need housing. It also brings in hotels, restaurants, etc. These businesses all also bring in employees, who also need housing. So whenever the local economy is on the rise, which a casino does, the housing demand will rise and so will housing prices.
I hope this helped.
Good luck,
RE Agent,
Remax

Answer 2

Probably not, since some of them are on Native American land!