The Effect of Recessions on Gambling Expenditures

Horváth, Csilla; Paap, Richard

doi:10.1007/s10899-011-9282-9

Cited by 41 publications

(33 citation statements)

References 53 publications

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“…This result seems consistent with prior research showing that the effects of economic recession vary according to type of games (e.g. Horváth and Paap, 2012;Olason et al, 2015).…”

Section: Discussionsupporting

confidence: 92%

“…Mao and Gu (2007) and Youn and Gu (2010) find that the casino industry is more recession-proof than the hospitality industry in general. Horváth and Paap (2012) find that only lottery consumption appears to be recessionproof, whereas casino gambling and pari-mutuel wagering expenditure were affected by the economic recession. Similarly, Cantor and Rosentraub (2012) do not find that US casinos perform better than other forms of tourism during the recession.…”

Section: Gambling Business Segments and Smes Performancementioning

confidence: 77%

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Corporate governance and performance of Italian gambling SMEs during recession

Rosa

Bernini

2018

IJCHM

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International Journal of Contemporary Hospitality Management Corporate governance and performance of Italian gambling SMEs during recessionPurpose: This study aims to explore how the economic recession and some corporate governance (CG) provisions can affect the performance of Italian gambling small and mediumsized enterprises (SMEs) across different business segments. Design/Methodology/approach: This study uses a panel sample of 2,135 observations before and during the global financial crisis. Specifically, the roles of ownership, boards of directors, CEO gender, and gambling business segments are investigated in the Italian gambling market. Findings: Ownership concentration has a negative relationship with the performance of foreigner-and financial-owned firms, while boards exert a positive role on performance. Interestingly, the financial crisis does not impact the performance of Italian gambling SMEs and some business segments, such as bingo, perform even better during the crisis. Research limitations/implications: Further investigations should analyze the role of single games on firm performance. The consumer-and firm-level examinations offer very different perspectives and scholars should be aware of this when investigating the gambling industry. Practical implications: This study might help both policymakers and other gambling firms, such as casinos, to better understand which appropriate CG model should be adopted and how it can positively influence performance, especially in recessionary times.Originality/value: This study contributes to studies on hospitality and tourism by focusing on the complementary role of gambling SMEs with respect to casinos. It also increases knowledge on the role of CG in privately owned gambling firms, which thus far has been scantly investigated by scholars.

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“…This result seems consistent with prior research showing that the effects of economic recession vary according to type of games (e.g. Horváth and Paap, 2012;Olason et al, 2015).…”

Section: Discussionsupporting

confidence: 92%

Section: Gambling Business Segments and Smes Performancementioning

confidence: 77%

Corporate governance and performance of Italian gambling SMEs during recession

Rosa

Bernini

2018

IJCHM

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“…Several point to macroeconomic factors and have demonstrated that both the money supply and interest rates influence tourist decision making about travel [8]. A few scholars have investigated the ways in which gambling activities are affected by non-macroeconomic events [9,10] but there is little understanding about how macroeconomics impact casino-visitor behavior. Only very few studies have investigated whether and how gambling activities are influenced by events.…”

Section: Introductionmentioning

confidence: 99%

The Macroeconomic Determinants of International Casino Travel: Evidence from South Korea’s Top Four Inbound Markets

Suh

Kim

2018

Sustainability

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This study investigates the macroeconomic determinants behind the number of foreign visitors to Korean casinos arriving from major source countries, namely Japan, Mainland China, Hong Kong SAR and Taiwan. Using monthly data from 2006 to 2016, we utilized a Structural Vector Autoregression (SVAR) model to investigate the dynamic effects of macroeconomic factors on the number of casino visitors. Estimation results supported the conclusion that visitors from Japan and Mainland China-who account for approximately three quarters of the total number of foreign casino visitors-were affected by macroeconomic or financial indicators such as changes in oil prices, exports and exchange rates (Japan), exports and short-term interest rates (Mainland China). In contrast, visitors from Hong Kong SAR did not seem to be influenced by any of these factors. We also found that the MERS (Middle East Respiratory Syndrome) outbreak in Korea in 2015 had a significant adverse effect on casino visitors from all regions. Implications and suggestions for future studies are provided along with the results of this study.

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“…Gambling opportunities and expenditures have increased in the United States in the past decade (Horvath & Papp 2012). Several states voted on the legalization of state lotteries, and many states expanded their lotteries to include new types of games.…”

Section: Introductionmentioning

confidence: 99%

Gambling and Problem Gambling in the United States: Changes Between 1999 and 2013

et al. 2014

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Telephone surveys of U.S. adults were conducted in 1999-2000 and again in 2011-2013. The same questions and methods were used so as to make the surveys comparable. There was a reduction in percentage of past-year gambling and in frequency of gambling. Rates of problem gambling remained stable. Lottery was included among the specific types of gambling for which past year participation and frequency of play declined. Internet gambling was the only form of gambling for which the past-year participation rate increased. The average win/loss increased for several forms of gambling, providing a modest indication that gamblers were betting more, albeit less frequently. Between the two surveys, the rates of past-year participation in gambling declined markedly for young adults. In both surveys, rates of problem gambling were higher for males than females, and this difference increased markedly between surveys as problem gambling rates increased for males and decreased for females. For the combined surveys, rates of problem gambling were highest for blacks and Hispanics and lowest for whites and Asians. In both surveys, the rates of problem gambling declined as socio-economic status became higher. Possible explanations for these trends are discussed.

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The Effect of Recessions on Gambling Expenditures

Cited by 41 publications

References 53 publications

Corporate governance and performance of Italian gambling SMEs during recession

Corporate governance and performance of Italian gambling SMEs during recession

The Macroeconomic Determinants of International Casino Travel: Evidence from South Korea’s Top Four Inbound Markets

Gambling and Problem Gambling in the United States: Changes Between 1999 and 2013

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