Gaming and Casino Operations Management Commons^™

Human Capital And Hotel Operating Performance, Nan Hua

Journal of Hospitality Financial Management

Human capital plays an essential role in firm sucess in the hospitality industry (Baum, 2015; Tracey, 2014); however, how the mechanism through which human capital contributes to a hotel's performance remains unclear (Bagri et al., 2010; Domínguez-Falcón et al., 2016; Ooi et al., 2015). By extending Hua et al. (2015) and O’Neill et al. (2008), this study systematically examined the impacts of human capital, proxied by Total Labor Expenses at different lagged time points, on hotel operating performance, while controlling for a comprehensive array of potential confounding variables. This study offers a more holistic view of whether human capital influences …

What Hotel Attributes Matter? Understanding The Price Determinants In The Lodging Industry, Lan Jiang, Marcia H. Taylor

Journal of Hospitality Financial Management

The major purposes of the empirical study are to investigate the price determinants in the lodging industry (i.e., hotel class, hotel operation, location, size, age, and seasonality) and to examine how these price determinants affect financial performance of the hotel. A quantitative method was used in this study, with 6,732 valid observations collected and analyzed. The findings suggested that hotel class, hotel operation, location, size, and seasonality are significant factors determining hotels’ average daily rate (ADR) and revenue per available room (RevPAR). The results have both theoretical and practical contributions. They not only broaden the existing lodging research but can …

Abstracts Of Presentations At The 2019 Annual IAhfme Research Symposium

Journal of Hospitality Financial Management

No abstract provided.

Hotel Industry Performance In 2019-2020, Covid-19 Impact, And The Jhfm Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Impact Of Employee Meals On Employee Satisfaction And Hotel Financial Performance: An Experimental Study, Luana Nanu, Cihan Cobanoglu, Ibrahim Hakan Yilmaz, Timucin Dis

Journal of Hospitality Financial Management

It is common for hotel employees to receive several benefits tied to their workplace; in some cases these benefits are in a nonmonetary form. Several hotel companies, in both developing and eveloped countries, offer employee meals as a nonmonetary form of benefits. By using secondary data on employee satisfaction prior to and post staff cafeteria renovation, this study investigated the impact of employee meals on employee satisfaction and hotel financial performance. The findings showed a significant and robust correlation among the quality of the employee meals, employee satisfaction, and financial performance of the resort.

Food And Beverage Staffing Changes In Nevada Resorts After The Great Recession, Toni Repetti, Liheng Zhang

Journal of Hospitality Financial Management

With profit margins averagins 5-7% and labor costs of 30-55% of revenue, restaurant managers need to carefully monitor expenses to maintain these already low profit margins. This study evaluates food and beverage departments within Nevada casinos from 2000 to 2018 to see if managers exhibited expense preference behavior prior to the Great Recession. Three models were tested: number of employees, salaries and wages, and total payroll. Results show that in all three models, there is a significant decrease postrecession versus prerecession, with a decrease of 12.8% in employees, 4.5% in salaries and wages, and 9.1% in total payroll. Only the …

International Association Of Hospitality Financial Management Educators (Iahfme) Academic Member 2019 Total Annual Earnings, Raymond S. Schmidgall

Journal of Hospitality Financial Management

This study uses survey research to determine the 2019 annual earnings of hospitality financial management educators. Forty percent of iAHFME members affiliated with educational institutions responded. Survey results show that for 2019, annual base salaries of iAHFME members ranged from $72,000 to $200,000. The lowest-paid member was an assistant professor and the highest-paid member, a full professor. Many respondents supplemented their base salaries by teaching during summer school or consulting or both. The total annual earnings of iAHFME members ranged from $82,000 to $250,000. Survey results also show that hospitality financial management educators appear to be more highly compensated than …

Are We Keeping Our Cash In Our Hotels?, Agnes L. Defranco, Raymond S. Schmidgall

Journal of Hospitality Financial Management

Cash is often known as the most important asset of any business. Without cash, it is very difficult to sustain a business, let alone to grow it. This study therefore investigated the compilation and usage of the statement of cash flows and the cash budget in hotels. The former is a historical document recording how cash was accumulated and used in the previous accounting period while the latter is a forecast to plan for the use of cash in the future. Other cash management practices, ranging from deposits, cancellations, and penalties to a list of accounts receivable and accounts payable …

The Monitoring Effects Of Debt In The U.S. Restaurant Industry, Lan Jiang, Michael Dalbor

Journal of Hospitality Financial Management

The issuance of debt is a monitoring mechanism. Whether the debt is from a private lender or is in the form of publicly traded bonds, both types of lenders expecct a return on their money (Jensen, 1986). Thus, while finding ways to increase sales is important, the control of expenses is paramount to the success of the firm and to be able to borrow more funds in the future. Using data from 111 restaurant companies is an effective monitoring agent and if it helps firm performance. Results reveal a significant relationship between a restaurant firm's expense ratio and its short-term, …

Cash In Hotels And Clubs: 2020 And Beyond, Agnes L. Defranco, Raymond S. Schmidgall

Journal of Hospitality Financial Management

Cash is the lifeblood of any business. Even if a business has cash but is not properly managed, the operation will suffer. One hundred and sixty clubs and hotels shared their accounts receivable and accounts payable practices. In addition, for the users and usage of the statement of cash flows and cash budgets, how often such statements are prepared are documented as points of comparison. It is found that both clubs and hotels view the cash budget more favorably than the statement of cash flows, and hotels are more vigilant, employing more practices to collect their accounts receivable. Managing the …

Regulated Sports Betting: A Nevada Perspective, Becky Harris

International Gaming Institute Faculty Publications

This article discusses the impact Nevada has had on legal regulated sports betting for the past seventy years. First, an overview and history of Nevada's sport betting regulatory framework will be presented; and, second, lessons learned and issues to consider for states wishing to embark on legalized regulated sports betting such as, integrity, why states and not the federal government should regulate sports betting, how tax rates and fees impact the legal and illegal markets, why technology is critical component of legal sports wagering, why multiple avenues for consumer protection are essential, and finally how cooperation among all stakeholders is …

Value Relevance Of Financial And Non-Financial Information: Evidence From The Gaming Industry, Lisa Goh, Kevin Ck Lam, Hong Weng Lawrence Lei

UNLV Gaming Research & Review Journal

Using financial and non-financial data from casino gaming firms listed in the United States from 1999–2017, we explore two research questions: (1) Is financial information value relevant to financial markets in the casino gaming industry? (2) Does non-financial information have incremental explanatory power over financial information? In general, we find that accounting numbers can explain a firm’s market value and stock returns in the casino gaming industry, except for accounting accruals, which may behave differently compared to other industries. We also find that non-financial information, such as the number of table games, number of slot machines, and their relative proportion, …

Nipped In The Budd? Assessing The Wisdom Of The Gambling Review Body’S Recommendations In Relation To Problem Gambling, Daniel Waugh, Tom Grant

UNLV Gaming Research & Review Journal

The convening of the Gambling Review Body (the ‘Review Body’), between 2000 and 2001 was the most recent attempt by the British Government to consider fully policy objectives for the operation of its licensed gambling market. It followed in a tradition of comprehensive Government-sponsored reviews of gambling (carried out in the twentieth century by Royal Commissions) approximately every 20 to 25 years. The publication of its report in 2001 had a strong influence on the drafting of the Gambling Act 2005 (the ‘2005 Act’), Britain’s principal piece of gambling legislation.

In 2019, Britain’s gambling laws are under review once more. …

Reinventing The Wheel: Comparing Family Friendly Vegas And Adult Friendly Vegas Revenue Growth, James Vaughn

International Conference on Gambling & Risk Taking

The one constant for Las Vegas is change, always looking for the Next Big Thing™. In the 1990s, Las Vegas engaged in a grand experiment: roller coasters, amusement parks, family pools and shows. In the 2000s, Las Vegas reinvented itself back to its roots: condo not amusement parks, sensual not swashbuckling shows, topless European ultra-pools not kiddie pools. While the house always wins, did the casinos of the 1990s or 2000s beat the ultimate house, going beyond nominal revenue growth into the jackpot of real revenue growth?

Gamesense Interactions: Improving Guest Experience With Responsible Gaming, Richard Taylor

International Conference on Gambling & Risk Taking

How do conversations about responsible gambling impact the employee and guest experience?

With the implementation of GameSense and its strong ties to our loyalty marketing program, M life Rewards, MGM Resorts endeavors to answer that very question. Through focus groups research, interaction surveys, and on the ground conversations with casino employees, we are learning a lot about our innovative approach to responsible gambling.

During this lightning talk, Director of Responsible Gaming, Richard Taylor, will provide a typical GameSense interaction, and a very brief summary about GameSense and why it's critically important to make RG a focal point of guest experience.

Female Leadership In Gaming: Where Are They & Where Are They Missing?, Toni Repetti, Shekinah Hoffman

International Conference on Gambling & Risk Taking

Women account for over half the gaming workforce, but there is still a gap in leadership. Men continue to dominate casino executive and board positions and this is not representative of the front-line workforce. This presentation uses a database of 10, 950 management positions in 972 United States casinos to evaluate the facts, not perceptions. The database consists of 567 commercial and 405 Native American casinos, which are evaluated separately and in combination. Results show women hold 35.5% of manager and above positions when evaluated overall, but there is a significant difference when evaluated by type of operations. Commercial casinos …

Sports Betting And Indian Gaming: Overcoming Barriers To Market Entry And Integration Of Sports Books Into Tribal Casinos, Steve Light

International Conference on Gambling & Risk Taking

Abstract

Even before the U.S. Supreme Court issued its decision In Murphy v. NCAA (2018) permitting states to legalize sports wagering, the biggest brand-names in gaming worldwide were positioning themselves to capitalize on the fan base for America’s most recognizable sports leagues.

Sports wagering already is up and running in five states; analysts predict that more than half the states will legalize it within five years. Many will be among the 29 states that currently have casinos owned and operated by American Indian tribes in this $32.4 billion market segment.

There is no firm sense and little data pointing to …

Current Problem Gambling Countermeasures And Responsible Gaming Dissemination Issues In Japan, Naoyuki Nishimura Phd Md

International Conference on Gambling & Risk Taking

Activities such as pachinko, pachi-slot and public sports race betting make up Japan’s unique gambling culture. When the “the Gambling Addiction Countermeasures Act” and “the Integrated Resort (IR) Development Act” were passed by the Japanese Diet in July 2018, gambling in Japan has begun the move to a new stage. In preparation of IR developments, there will be measures enacted at the national government level on problem gambling from existing activities, and discussions have started on how to prevent the negative influence created from casinos in the IRs. The problem gaming countermeasures which just started in Japan face many issues …

Tribal Gaming Leader Strategies Toward A Sustainable Future, Janie A. Hall, Patricia I. Fusch, Janet M. Booker

The Qualitative Report

One aspect of leadership strategy is the need to account for the core values of the organization.The purpose of this case study was to explore the tribal gaming leader strategies used toward sustainability, an action that leads to tribal economic development and stability. The conceptual framework of situational leadership theory was used to guide the scope and analysis of this study. Six tribal gaming leaders from Oklahoma participated in a focus group session; 7 additional tribal gaming leaders from the same gaming organization participated in individual interview sessions. Member checking was used to strengthen the credibility and trustworthiness of the …

Expert Commentary On Sports Betting Post-Paspa, Becky Harris

International Gaming Institute Faculty Publications

Becky Harris, appointed by former Nevada Governor Brian Sandoval (2011-2019), served as the first female Chair of the Nevada Gaming Control Board from January 2018 to January 2019. Harris was the first Chair to propose regulations addressing workplace sexual harassment. Prior to serving as Chair, Harris served in the Nevada Legislature for the 2015 and 2017 legislative sessions.