Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Finance and Financial Management
Food And Beverage Staffing Changes In Nevada Resorts After The Great Recession, Toni Repetti, Liheng Zhang
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 …
How The Great Recession Affected Casino Staffing In Nevada Casinos, Toni Repetti
How The Great Recession Affected Casino Staffing In Nevada Casinos, Toni Repetti
UNLV Gaming Research & Review Journal
In service based industries, as revenue increases so does the need for employees to provide that service, but no known academic research has been conducted on what the most efficient level of that service should be for casinos. In Nevada casinos, significant results show that for each 1% increase in gaming revenue, casino employees increase 0.80%, salaries and wages increase 0.91%, and total payroll increases 0.95%. During fiscal years 2008 – 2010, what many consider the most significant recession to date for Nevada casinos, gaming divisions significantly decreased employees 11.6%, salaries and wages 8.7%, and total payroll 8.8% beyond that …