The gambling industry here is focused on tourists, and brings about 7% of all income to the state budget. The gambling industry began to bring such revenues to the state treasury that the citizens of the principality were exempted from paying taxes. And even today, the indigenous inhabitants of Monaco (Monegasques), who are only about 20% of the total population, do not pay taxes. They live on subsidies and benefits. They also often take part in the gambling business, but only as working personnel. Monaco is a small sovereign state located on the Mediterranean coast. The gambling business here is legal and well developed. The first casino was opened in the middle of the 19th century. However, due to its inconvenient location, this establishment was not in demand, and eventually closed. But in 1963, gambling moved to the city of Monte Carlo, where the Casino de Monte-Carlo was opened.
