Business Commons^™

Measuring The Impact Of Reduced Free-Play Offers On Casino Loyalty Behavior, Anthony F. Lucas, Katherine A. Spilde

UNLV Gaming Research & Review Journal

Performance data from a tribal casino operating in the Western United States indicated a general insensitivity to free-play (FP) offer reductions. This finding addresses considerable industry-wide concerns regarding the potential for negative customer reactions to conspicuous offer reductions. Further, FP campaigns are costly annual investments representing the lion’s share of casino marketing budgets in many jurisdictions. A within-subjects design featured the random assignment of 100 loyalty program members from a common offer tier to each of four groups, with the experimental groups receiving different yet substantial reductions in FP during the post-demotion period. The results demonstrated a lack of significant …

A Comparison Of Clustered And Isolated Casino Performance In Missouri, Douglas M. Walker, Todd M. Nesbit

UNLV Gaming Research & Review Journal

This paper utilizes data on Missouri’s casino industry to examine how clustered casinos, such as those in Kansas City and St. Louis, perform compared to dispersed or isolated casinos, such as those in Boonville, Caruthersville, La Grange, and St. Joseph. Missouri limits the number of casino licenses allowed; however, it does not explicitly mandate casino locations. Missouri provides a unique natural experiment for comparing location model performance. Although there is no published research on which type of casino location model is more effective for generating industry revenues and associated taxes, state legislatures have nevertheless been following an isolated casino location …

Third-Party Responsible Gambling Accreditation Programs Are Related To Short-Term Improvements At Casinos But No Ongoing Gains: Evidence From Rg Check, Kahlil S. Philander

UNLV Gaming Research & Review Journal

This study examines how casino operators’ responsible gambling program performance changes after entering a third-party assurance program. Using de-identified responsible gambling accreditation data from the 75 casinos employing the “RG Check” program from 2012 to April 2019, this study finds that casino scores improved in the first reaccreditation period (p < .001, d = 0.92), but failed to improve in the second reaccreditation (p < .78, d = 0.38). Much of the first reaccreditation changes appear to be a result of one-time improvement in the scores of lower performing venues. There also appears to be inconsistent improvements in tactical areas of RG …

Problem Gambling And Cognitive Distortions Among Macao Vip Hosts: A Brief Report, Tiange Xu, Brett Abarbanel, Mehmet Erdem, Bo J. Bernhard, Shane W. Kraus

UNLV Gaming Research & Review Journal

This report investigates the understudied group of VIP Hosts in Macao casinos, who cater to high rollers and may be more vulnerable to problem gambling due to their exposure to heavy betting. To comprehensively profile their gambling behaviors and cognitions, we conducted an anonymous online survey using the Chinese Version of South Oaks Gambling Screen (C-SOGS) and the Gambling Fallacies Measure (GFM). Given the difficulty of accessing this population, we employed the snowball sampling technique to recruit eligible participants. Our analysis included data from 41 participants, and the findings revealed high levels of gambling-related cognitive distortions among VIP Hosts. In …

Regulating A Fantasy For A Billion: Playing On A Smartphone In India, Angshuman Hazarika

UNLV Gaming Research & Review Journal

The fantasy gaming industry in India has moved forward at an unprecedented pace with limited oversight primarily based on 'self-regulation'. The absence of a clear regulatory mechanism for this industry has been highlighted in previous work, but no clear determination has been provided on how to deal with this issue. The current contribution seeks to provide a path ahead by suggesting that the government regulate the industry directly instead of an industry-operated self-regulatory framework which has had limited effectiveness till now. This suggestion has been made considering the significant size of the industry and the target demographic of the fantasy …

Hotel Industry Performance In 2021-2022 And The Jhfm Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Hospitality Sector Revenues And Employment In The Eagle Ford Shale, 2010-2019, Javier Oyakawa

Journal of Hospitality Financial Management

By taking advantage of proprietary data from input- output tables’ time series and by using econometric methods, this study estimated job and output multipliers affecting the hospitality sector in Eagle Ford Shale (EFS) between 2010 and 2019. In 2019, in the EFS area, the hospitality sector, including the hotel and food subsectors, received 32.5% of its increased revenues from oil and gas activities when comparing the years 2019 and 2010. For each new job in the energy industry, the hospitality sector received between $10,185 and $12,744. In the same year, hotel subsector revenues due to oil and gas activities explained …

How Much Of ‘Home Field Advantage’ Comes From The Fans? A Natural Experiment From The Covid-19 Pandemic, Kevin Krieger, Justin L. Davis

UNLV Gaming Research & Review Journal

Home field advantage has been a commonly discussed and researched topic in sports. How much of this advantage is due to the home team’s supporters’ physical attendance at the game where they might encourage their team, intimidate the opponent, and influence game officials? We utilize the unique natural experiment of the COVID-19 pandemic and consider the case of American professional (NFL) and collegiate (NCAA) football to examine this question. We measure how typical spreads, relative to home teams, changed in the 2020 season compared to their historical levels, and we determine that roughly half of what football fans and analysts …

Estimating The Effect Of Poker Room Promotions On Player Traffic, Michael T. Paz, Mikhail M. Sher, B D. Mccullough, Shabnam Zarin

UNLV Gaming Research & Review Journal

This paper examines the impact of poker room promotions on player traffic in casino-based poker rooms. Casinos regularly spend significant portions of their marketing budget on promotions, including free-play, item-based offers, complementary hotel rooms, and travel reimbursements (among others), in an effort to drive casino traffic. Poker room promotions, by contrast, are unique within the context of casino promotions because they are both player-funded and paid in cash. Despite these significant differences between poker room and other casino promotions, prior research has not provided empirical evidence on the effectiveness of poker room promotions. Using collected data on casino-based poker games …

Unveiling Macau Gaming Inspectors: Functions, Conditions And Operations, Changbin Wang, Hong-Wai Ho

UNLV Gaming Research & Review Journal

Macau has seen the rapid development of casinos in the past two decades. Long-established regulatory control of the city’s gaming industry ensures compliance with the applicable regulations and standards. Among other regulators and staff, gaming inspectors are responsible for the first-line supervision of gaming operations across Macau casinos. This paper is the first attempt to review the casino regulatory inspection in Macau with a particular focus on the functions and practices of gaming inspectors stationed at casinos. Existing internal and external factors affecting the functions of gaming inspectors are identified and discussed in this paper. The authors of this paper …

The Effect Of Franchising And Dividend Payments In The U.S. Restaurant Industry, Lan Jiang, Michael Dalbor

Journal of Hospitality Financial Management

The purpose of this research is to understand the effect of franchising and dividend payments in the restaurant industry. To be specific, this study tried to assess whether franchising and dividend payments improve financial performance in restaurant firms, and whether restaurant firms that both engage in franchising and pay dividends can achieve superior returns to those firms that only do one or the other. Data was collected using Compustat from 2011–2020, a total of 94 restaurants with 600 firm year observations were included in the sample. The results of this study suggested that franchising and dividend payments each enables restaurant …

Conditions For Increased Fraud Risk: A Case Study By Restaurant Segment, Elizabeth A. Yost

Journal of Hospitality Financial Management

Risk factors leading to fraud is an important issue for restaurant operators. This paper identifies and evaluates the financial and non-financial characteristics of different restaurant segments through the lens of the fraud triangle. Using probit modeling and time series data from 2004 to 2014, it investigates different factors that significantly impact the increased risk of fraud in four types of restaurant segments—quick service, fast casual, casual dining, and fine dining. As such the findings of this study provide a better understanding of internal and external risk factors leading to increased fraud in the restaurant industry.

2021-2022 Restaurant Industry Performance And The Jhfm Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Hedonic Price Analysis Of Hotel Rooms In Cyprus, Pandelis Mitsis

Journal of Hospitality Financial Management

The aim of the current study is to investigate which attributes or characteristics have significant effects on the hotel room prices in Cyprus. The author follows a hedonic price analysis approach and employs a data set consisting of 92 hotels, collected from a private tourist agent. The empirical findings indicate that hotel star rating, spa facilities, playgrounds, table tennis activities and proximity to a bus station have all significant effects on the hotel room prices, in both the summer and the winter seasons. Contrary, air-conditioning, direct-dial telephone and the presence of tennis court and indoor pool amenities affect the room …

Human Resource Allocations For Independent Hotels Under Uncertainty: Fuzzy Goal Programming Approach, Di Wu, Yong Choi, Seunghee Wie

Journal of Hospitality Financial Management

Human Resource (HR) allocation for independent hotels is critical, especially during and after the pandemic because labor costs account for a large portion of operating expenses in lodging businesses. An effective HR allocation can therefore be critical for minimizing costs and, at the same time, for improving profitability and making financial management more efficient. This study focuses on fuzzy goal programming models covering both linear and quadratic cases to study HR allocation issues for independent hotels as linear programming models are often limited to handle multiple objective HR allocation problems. The applications illustrated in this research can be fully utilized …

Using Acquisitions As A Growth Strategy From Single Concept To Multiple Concepts: A Case Study, Francis A. Kwansa, Eliza Ching-Yick Tse

Journal of Hospitality Financial Management

From the day a business is conceived, it is constantly faced with numerous strategic challenges that have impact on its survival, success, and/or failure. Many independent businesses fail within the first three years. For the ones that survive and prosper, they may remain as independents, private and or family businesses, while some transform into corporations and even become publicly traded entities. We use FAT Brands as a case study to examine the evolution of a company from a single restaurant concept and expanding by diversifying into a multi-concept and publicly traded corporation. Internal and external factors such as the impact …

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 …

An Innovative Approach To Understanding Employers' Commitment To Diversity, Equity, And Inclusion, Becky Harris

UNLV Gaming Research & Review Journal

Diversity, equity, and Inclusion in the workforce have been topics of discussion in corporate America for years. In an effort to better understand employers’ commitment to hiring a more diverse, equitable, and inclusive workforce, and to collect robust data for analysis, the Nevada Legislature authorized the University Nevada, Las Vegas to launch a survey of Nevada employers concerning their workforce composition, employee representation at the frontline, supervisory, managerial and executive levels, employee benefit packages, and attrition rates. Every Nevada employer, including for-profit, non-profit and educational institutions are invited to participate. A link to the survey is provided in the article …

The Role Of Government Delegates In Macau Casino Gaming Concessionaires – Evolution And Prospective, Pedro Cortés

UNLV Gaming Research & Review Journal

Macau Government announced in the consultation document for the amendment of Law No. 16/2001 (Macau Gaming Law) – whose public discussion ended on October 29, 2021 – that it intends to introduce Government Delegates into the casino gaming concessionaires.

According to the consultation document, the appointment of government delegates will extend the Government direct supervisory powers over the casino gaming concessionaires and ensure that public interest is given precedence, as well as will be a form of proper guaranteeing compliance and fulfillment of the duties and obligations of the casino gaming concessionaires.

Such a system has existed in Macau since …

Hotel Industry Performance In 2020-2021 And The Jhfm Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Domestic Tourism In Poland: State, Development, And Prospects Before And During The Covid-19 Pandemic, Ewa BąK-Filipek, Katarzyna Podhorodecka

Journal of Hospitality Financial Management

The aim of the study was to show tourist movement in Poland and its importance in the tourism and national economy. The analysis of the results confirms a several-year trend of further increases in the number of arrivals for both foreigners and foreign tourists. In parallel to the positive trend in terms of the number of trips, unfortunately a decreasing trend is observed in the level of average spending of tourists and one-day visitors. Therefore, total revenue from inbound foreign tourism in 2019 (calculated in PLN) increased by 2.9% compared to its level from the previous year. Tourism, including foreign …

Cost Of Capital For Small Size Tourism Industry In Developing Countries: The Case Of Lodging Sector In Chile, Sergio Zuniga-Jara, Karla Soria-Barreto

Journal of Hospitality Financial Management

This paper provides a simplified approach toward estimating the cost of capital for a small company of the tourism sector. This is accomplished by dividing the hurdle rate into the return of the specific industry in a specific country, and a specific risk premium dependent on the size and age of the company/projects. We illustrate our proposal with investment estimations in lodging accommodations along the northern coast of Chile where tourism represents an important source of income and jobs. The estimations were validated through a survey carried out among entrepreneurs of the sector. The results suggest that our method is …

International Association Of Hospitality Financial Management Educators (IAhfme) Academic Member 2020 Total Annual Earnings, Raymond S. Schmidgall

Journal of Hospitality Financial Management

This study uses survey research to determine the 2020 annual earnings of hospitality financial man- agement educators. Forty-four percent of iAHFME members affiliated with educational institutions responded. Survey results show that for 2020, annual base salaries of iAHFME members ranged from $63,000 to $200,000. The lowest-paid member was an assistant professor and the highest-paid mem- ber, 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 $76,000 to $245,000. Survey results also show that hospitality financial management educators appear to be more highly …

Pricing In The Hotel Industry Based On The Simultaneous Realization Of Cost Management And Service Quality Efficiency Using Tanaka Technique, Maysam Shafiee Roodposhti, Kiandokht Behrang, Habibollah Mirghafoori, Khadijeh Mehrjoo

Journal of Hospitality Financial Management

This research seeks to utilize a technique (Tanaka technique) in which, while focusing on quality improvement, costs will be managed and tourism organization and companies can benefit from var- ious incomes. The statistical population of this study was hotels in Isfahan and using the opinions of experts of this industry, five cost-effective quality indicators were achieved. This technique has eight steps and for data gathering, questionnaires and interviews were used. This study identifies the amount of deviation of the actual cost from the target cost for each of the indicators. The results showed that ancillary facilities, structural architecture, service, manpower …

The Impact Of The Eb-5 Program In The Hospitality Industry: Now And The Future, Francis A. Kwansa, Xiangmei Yang

Journal of Hospitality Financial Management

The Employment-Based Fifth Preference program (EB-5) is one of five categories of employment- based visas that provide permanent residency to foreign nationals in the United States. In return, foreign nationals interested in the program are required to make investments of $1 million in busi- nesses and create a minimum of ten jobs in the United States. Since its creation in 1990, the EB-5 pro- gram has had a significant economic impact in the United States through infusion of external capital into the economy and through the creation of thousands of jobs. The hospitality industry has been one of the popular …

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 …

Increasing Investment In Stem Education For Females: Policy Considerations, Becky Harris, Andrea Dassopoulos, Daniel Sahl, Anna Starostina

UNLV Gaming Research & Review Journal

During this difficult economic time, as policy makers decide how to use their limited resources to help prepare the rising generation for the demands of an ever-changing workforce, aligning K-12 educational priorities with higher education and economic development can help maximize public dollar investments in STEM education, particularly when females are given access to STEM and STEM-related education and programs. Smart public policy initiatives can help increase the representation of women in the technology, research and development, and innovation departments.

The purpose of this article is to provide policy recommendations that could help increase gender diversity and participation in STEM …

Note From Special Issue Guest Editors And Invited Contributors, Amit Sharma, Bendegul Okumus, Seoki Lee

Journal of Hospitality Financial Management

No abstract provided.

Impacts Of Covid-19 On The U.S. Restaurant Industry From The Global Perspective, Seoki Lee, Hyoungju Song, Michael S. Lin, Amit Sharma

Journal of Hospitality Financial Management

The current study explores the impact of COVID-19 on the U.S. restaurant industry in terms of its stock performance, and further incorporates a global perspective into this examination by testing both the main and moderating effects of non-U.S. COVID-19 and also the moderating effect of the internationalization strategy of the U.S. restaurant industry. Findings of this study confirm that U.S. COVID-19 had a negative influence on U.S. restaurant firms' stock returns while non-U.S. COVID-19 had a positive impact. Further, the non-U.S. COVID-19 had a positive moderating effect on the relationship between U.S. COVID-19 and restaurant firms' stock returns. Unexpectedly, the …

Cost-Benefit Analysis Rules For The Foodservice System, Amit Sharma

Journal of Hospitality Financial Management

Cost-benefit analysis (CBA) is an established approach to help make informed decisions. The practical technique has been used extensively in several areas of study, and there is a robust literature on numerous aspects of CBA. While the functional characteristics have been well expounded, the incorporation of CBA into varied disciplinary contexts remains scanty. Foodservice systems can be viewed as an extension of the broader food system. Within food system economics literature, a critical gap remains in the study of behavioral decision-making through the lens of microeconomic approaches. CBA provides a theoretical approach to conduct such inquiries. Two rules in the …