Reflections: Insights from studying gambling in its era of change: what the past 43 years have been about

The following presentation was delivered on October 14, 2012 to the graduating class at the 2012 UNR Executive Development Program in Lake Tahoe, Nevada

OVERVIEW OF THE ECONOMIC IMPACTS OF GAMBLING: SUMMARY OF REMARKS

Public Economics,

The oxidation of lead sulphide in aqueous suspension

Imperial Users onl

Gambling Policy in the European Union: Monopolies, Market Access, Economic Rents, and Competitive Pressures among Gaming Sectors in the Member States

This study examines the conflicts within the European Union regarding protected status accorded to legal commercial gaming industries and the principles of harmonization that direct EU economic policy. Member States are permitted to constrain competition for gambling services as long as the primary purpose is to protect citizens from unintended negative consequences associated with the activities. Also, because of monopoly status, high tax rates, or government ownership, many EU gaming industries have become major contributors to government coffers or for funding for “good causes.” Legal challenges by private companies trying to participate in these protected markets have led to decisions by the European Court of Justice that have questioned such protected status. A number of key economic metrics for European gaming industries are presented, and competitive dimensions of EU casino industries are examined in comparisons to trends elsewhere.regulation, gambling, European Union, harmonization

VIP-room Contractual System of Macau’s Traditional Casino Industry

This study provides a systematic analysis of the VIP-room contractual system of Macau’s traditional casino industry. It examines the system’s historical background, its organizational structure, its operational mechanisms, and its role in Macau’s casino industry. This analysis examines the evolving and likely future changes in the VIP-room sector—as well as the mass market sector—caused by the liberalization of Macau’s gaming laws in 2001 and the Free Individual Travelers Scheme, introduced by the Chinese government in 2003. This study develops a framework to explain how the two sectors’ market shares are determined by examining the economic and cultural forces at work. The existing structure of the VIP-room contractual system in Macau’s casino industry will not likely continue in its traditional way, and will be replaced by newly evolving systems consistent with the new competitive realities. However, the VIP business will likely continue in one form or another.Regulation, gambling, casinos, Macau, baccarat

Estimating the Impact of California Tribal Gaming on Demand for Casino Gaming in Nevada

Since 1990, the California tribal casino industry has grown from a very small and insignificant industry to one with annual gross gaming revenues of about $7.5 billion per annum by 2009. Over this same period, Nevada\u27s gaming revenues grew from approximately$5.0 billion in 1990 to $10.4 billion in 2009, having declined from a peak of$12.8 billion in 2007. Much of the recent decline in Nevada and especially Las Vegas can be attributed to the severity of the economic recession of 2007-2009. However, the major Northern Nevada destination resorts of Reno and South Lake Tahoe had experienced substantial slowdowns or contraction of their gaming industries since the advent of California tribal gaming in the early 1990s, as measured in a number of ways, including number of gaming devices, employment, and gross gaming revenues adjusted for inflation. Las Vegas, on the other hand, had experienced substantial real growth over this same period, until the Great Recession of 2007-2009, at which point it experienced a dramatic reversal of fortune. This analysis estimates demand relationships for gaming activity in the major tourism markets in Northern and Southern Nevada, by specifying a number of variables that relate to the demand for gambling in these markets as well as noting monthly seasonal shifts. It also examines the competitive links between the expansion of California tribal gaming and the Nevada casino industry\u27s economic performance. Regression analysis is utilized to establish the relationship between the growth and expansion of tribal casinos in California and the expansion or contraction of gaming in Nevada\u27s major regions of Reno, Lake Tahoe, and the Las Vegas Strip