The Impact of Local Economic Conditions on Casino Revenues.
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AGRAWAL, J.D. Finance IndiaSummary: The study is focusing attention on the connection between the casino revenues and local economic conditions, measured by unemployment, GDP and real estate market indicator for metropolitan statistical area in which casinos operate. The effects of local economies on casino revenues in downtown Las Vegas and Reno, are viewed as hybrid between international/national and local gaming destinations, and are expected to represent a happy median. Casino revenues on the Las Vegas Strip, Atlantic City and Boulder were more sensitive to changes in local economies than winnings for casinos in Laughlin, Reno and especially Downtown Las Vegas, which consistently was the least responsive to local economic changes. Findings indicate change in all local economy indicators affected the change in casino revenues in the expected direction. Also change in local GDP had the strongest impact on change in casino revenuesfollowed by change in houing index, while change in unemployment had the weakest effect on the change in casino revenues.
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Main Library | ol 32, Issue 2/ 5559316JA3 (Browse shelf(Opens below)) | Available | 5559316JA3 | |||||
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Main Library On Display | JP/FIN/Vol 32, Issue 2/5559316 (Browse shelf(Opens below)) | Vol 32, Issue 2 (05/08/2021) | Not for loan | June, 2018 | 5559316 |
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The study is focusing attention on the connection between the casino revenues and local economic conditions, measured by unemployment, GDP and real estate market indicator for metropolitan statistical area in which casinos operate. The effects of local economies on casino revenues in downtown Las Vegas and Reno, are viewed as hybrid between international/national and local gaming destinations, and are expected to represent a happy median. Casino revenues on the Las Vegas Strip, Atlantic City and Boulder were more sensitive to changes in local economies than winnings for casinos in Laughlin, Reno and especially Downtown Las Vegas, which consistently was the least responsive to local economic changes. Findings indicate change in all local economy indicators affected the change in casino revenues in the expected direction. Also change in local GDP had the strongest impact on change in casino revenuesfollowed by change in houing index, while change in unemployment had the weakest effect on the change in casino revenues.
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