Business Commons^™

The Locals Casino As A Social Network – Can An Interconnected Community Of Players Detect Differences In Hold?, Jason D. Fiege, Anastasia (Stasi) D. Baran

International Conference on Gambling & Risk Taking

Abstract

It is difficult for individual players to detect differences in theoretical hold between slot machines without playing an unrealistically large number of games. This difficulty occurs because the fractional loss incurred by a player converges only slowly to the theoretical hold in the presence of volatility designed into slot pay tables. Nevertheless, many operators believe that players can detect changes in hold or differences compared to competition, especially in a locals casino market, and therefore resist increasing holds. Instead of investigating whether individual players can detect differences in hold, we ask whether a population of casino regulars who share …

Does Variable Wagering Affect The Ability Of Reel Slot Players To Detect Differences In Pars By Way Of Changes In Play Time?, Anthony F. Lucas, A.K. Singh

UNLV Gaming Research & Review Journal

The aim of this study was to better understand the role of a slot machine’s house advantage (a.k.a. par) in the individual player’s gambling experience. On this issue, the results challenged the inveterate wisdom of the industry. A battery of simulations comparing outcomes produced on slot machines with different pars failed to produce significant differences in play time, i.e., spins per losing player. These simulations were the first to accommodate variable wagering behavior, as identified by player tracking data donated by a Nevada casino operator. The results inform operators and game makers alike as to the ability of gamblers to …

The House Edge And Play Time: Do Industry Heuristics Fairly Describe This Relationship?, Anthony F. Lucas, A.K. Singh

UNLV Gaming Research & Review Journal

Based on modified versions of licensed pay tables from reel slot machines, simulations of play failed to indicate a statistically significant difference in the spins per losing player (SPLP), despite a marked difference in the pars (i.e., 7.9% vs. 12.9%). To reflect a volume of play consistent with frequent gambling, the simulations included results from 1-4 visits per week, for the equivalent of one year. Additionally, this level of play was repeated for 100 “years,” within multiple scenarios of buy-in amounts and stoppage-of-play criteria. Still, most outcomes indicated a negligible decline in SPLP, in spite of the 63%-increase in the …

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, …

How Slot Machines Work -- And Why You Should Think Twice Before Playing Them, Anthony Frederick Lucas

Hospitality Faculty Research

A short summary of my recent academic research. The intent was to expose a wider audience to the findings. The U.S. Conversation was recommended by Mary Croughan, VP Research & Economic Development

The Determinants And Effects Of Slot Servicescape Satisfaction In A Las Vegas Hotel Casino, Anthony F. Lucas

UNLV Gaming Research & Review Journal

Scales representing ambient conditions, ability to navigate the slot floor, cleanliness, interior decor and seating comfort all produce a significant effect on slot servicescape satisfaction. Scales representing slot servicescape satisfaction and gaming value produce significant effects on overall satisfaction with the slot experience. Overall satisfaction with the slot experience produces a significant effect on behavioral intention variables such as repatronage, word of mouth and desire to remain in the casino environment. This exploratory study uses data from a Las Vegas hotel casino to extend the work of Bitner (1992) and Wakefield and Blodgett (1996) related to servicescape effects. Simultaneous multiple …

The Non-Gaming Business Of The Gaming Industry: Evaluating The Contribution Of Non-Gaming Amenities At A Casino-Resort Property, Elena Shampaner-Ghiassi

UNLV Theses, Dissertations, Professional Papers, and Capstones

Previous studies on this topic show that all non-gaming amenities at a casino-resort property generate revenue in two ways. First, an amenity directly contributes to companies' overall profits when consumers spend on a particular amenity more than it costs the company to provide that amenity (Roehl, 2006). Second, these amenities can make an indirect contribution defined as the profit impact of an amenity on another profit center at the property (Dandurand & Ralenkotter, 1985); however, this contribution does not show directly on the amenity's financial statements (Roehl, 1996).

The purpose of this paper is to estimate the indirect gaming (both …

Evaluating The Impact Of A New Casino Loyalty Program On Gaming Volume, Ji Hye Min

UNLV Theses, Dissertations, Professional Papers, and Capstones

Using two years secondary data gathered from a Las Vegas hotel and casino, the effectiveness of a new casino loyalty program is examined on both daily slot coin-in and table game drop. Based on a theoretical model advanced to estimate the effects of a new loyalty program, simultaneous multiple regression analysis with Autoregressive Moving Average (ARMA) terms is used to analyze the data. The results indicate that the loyalty variable significantly increases slot coin-in at a rate of $302,455 per day, while table game drop is not significantly affected by the introduction of the new loyalty program. The coin-in increase …

The Efficacy Of Fragrance Use For Enhancing The Slot Machine Gaming Experience Of Casino Patrons, Gael D. Hancock

UNLV Theses, Dissertations, Professional Papers, and Capstones

Once guests are inside a casino, experiential factors within the casino must be managed so that these guests are encouraged to engage in the gaming opportunities; remain in the casino to eat and shop; return to the casino; and hopefully, to recommend the casino to others. Ambient conditions have been shown to influence a person's willingness to stay in a public setting and their repatronage intentions. Air fragrance is one small, but controllable piece of the experience puzzle that includes décor, lighting, music and other ambient sounds, comfort of the seating, quality of the service, perception of cleanliness and ease …

Estimating The Indirect Contribution Of Sports Books: Sports Wagering As A Driver Of Other In-House Revenues, Brett L.L. Abarbanel

UNLV Theses, Dissertations, Professional Papers, and Capstones

Using data from a repeater market hotel in Las Vegas, Nevada, the relationship between sports book and slot machine revenues is examined. Daily sports book write and daily slot handle are compared over a 250 day period. Though many industry leaders theorize that sports book gamblers also wager in slot banks, the results of this research fail to demonstrate a statistically significant relationship between sports book write and slot coin-in. In addition, the model used included race book win as an independent variable. Race book win was found to be a highly insignificant indirect contributor to slot revenue volume and …