Abstract

OFAC regulations pertaining to customers or targeted countries. This paper focuses solely on the gaming side of the casino business. Nonetheless, the casino industry needs to understand that the non-gaming side of its business has exposures to OFAC requirements such as casino hotels and high-end retail stores (e.g., jewelry). Please note that. Ngai Pindell and Anthony Cabot, editors. Regulating Land-Based Casinos: Policies, Procedures, and Economics. Las Vegas: UNLV Gaming Press, 2014. Once restricted to exotic locations like Las Vegas, Macau, and Monte Carlo, casinos are now operating in many cities nationally and internationally from the Maryland waterfront to Ho Chi Minh City.

How we regulate the gambling industry. We regulate in a transparent, accountable, proportionate, and consistent way. Using a risk-based approach, we focus our resources on those issues and gambling businesses that potentially present the greatest risk to the licensing objectives.
Get this from a library! Casino gaming: policy, economics, and regulation. Anthony N Cabot.

A critical issue in assessing the economic impact of casinos is whether gambling activity displaces consumer expenditure from conventional retail establishments. We test this hypothesis using industry-level, time series data for eleven counties in Missouri, a state that recently introduced riverboats. Our results are generally inconsistent with the displacement hypothesis. However, we do find evidence of substitution between gambling and other businesses in the entertainment and amusement sector. This conclusion lends credence to the view that gaming serves as a substitute for other forms of entertainment. Our results also imply that the search for displacement should probably be focused on activities that constitute the closest consumer substitutes. We conclude with a discussion of the policy implications for state regulation of this new source of revenue.

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Siegel, D., Anders, G. Public Policy and the Displacement Effects of Casinos: A Case Study of Riverboat Gambling in Missouri. J Gambl Stud15, 105–121 (1999) doi:10.1023/A:1022230124148

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DOI: https://doi.org/10.1023/A:1022230124148

Keywords

Time Series
Public Policy
Series Data
Economic Impact
Critical Issue

Abstract

This study uses an event history analysis to examine the factors that lead to the adoption of casino gambling among 13 nations around the world. Specifically, measures of fiscal stress, economic development, tourism, religiosity, and income levels are tested for their relationship to national decisions to legalize casino gambling. This study found that economic development needs, as measured by general unemployment rates, were associated with the casino legalization decisions of national governments. Higher unemployment rates were more likely in the years that nations legalized casino gambling. Religiosity, measured by frequency of church attendance, was also found to be a significant barrier in legalization decisions. Measures of fiscal stress, tourism, and income levels were not found to have significant relationships with the legalization decisions. This is interesting because these factors are often cited in case studies, media reports, and the statements of politicians

Casino Gaming Policy Economics And Regulation