Gaming and Casino Operations Management Commons^™

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 …

A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert

Faculty Scholarship

The Louisville metro area is one that spans two states—Kentucky and Indiana. Since the University of Louisville has many students and employees who come from the Hoosier State, it would be interesting to see how the two states compare when it comes to what has been labeled a “signature” industry for the Commonwealth of Kentucky—horse racing.

The Economic Impact Of The Red Mile On The Lexington Metro Area, Thomas E. Lambert

Faculty Scholarship

The Red Mile Racetrack and Red Mile Gaming Center in Lexington, Kentucky have a harness racetrack, and the track has had a solid tradition for quality harness racing going back to its start in 1875 (Red Mile 2022). This paper examines what economic impact the racetrack and gaming center have on the Lexington metro area (Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford counties in Kentucky) on a yearly basis.

The Economic Impact Of Keeneland Race Course On The Lexington Metro Area With Projections For This Year’S Breeders Cup, Thomas E. Lambert

Faculty Scholarship

Keeneland Race Course in Lexington, Kentucky has had a long tradition for quality horse racing going back to its inception in 1936 (Keeneland 2022). With the 2022 Breeders’ Cup World Championships coming to the race track this November, this paper examines what economic impact the race track has on the Lexington metro area (Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford counties in Kentucky) on an annual basis and how the 2022 Breeders’ Cup will boost the impact of the race track when compared to a typical year.

The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert

Faculty Scholarship

Churchill Downs’ acquisition of Ellis Park Racing and Gaming in Henderson, Kentucky reflects the growing number of mergers across the US among racetracks, racetracks and casinos, and casinos with other casinos. Some years back, Ellis racetrack closed for one year due to declining profitability, yet after new ownership took over and a gaming center was added, it began a rebound in earnings (Courier and Press 2008). The $75 million that Churchill Downs plans to spend to transform Ellis Park (Schulz 2022) will have a much bigger impact than the construction, revamping, and expansion of park facilities. This is in addition …

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 …

Monetized Competitive Peer-To-Peer Skill-Based Game Play–An Introduction, Becky Harris, Bill Coley, Peter Gan, Anh-Vu Nguyen

International Gaming Institute Faculty Publications

The COVID pandemic has changed the world in ways, both large and small, forever. One unexpected way the world changed was when live sports suddenly went dark and esports began experiencing attention from betting audiences that were suddenly starving for content.¹ Esports also received a second glance from gaming regulators. And, though not exactly suddenly (even though it felt like it), approvals for wagering on esports were granted in a variety of jurisdictions, most notably Colorado and Nevada.²

A subset of the larger esports environment, peer-to-peer (P2P) skill-based play is hardly a new concept. You can find it …

The Economic Impact Of Horse Racing Tracks And Historical Horse Racing In Kentucky, Thomas E. Lambert

Faculty Scholarship

The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Mint Julep Louisville 2021). As Table 1 below shows[1], the industry employees roughly 6,000 people (direct jobs), and these jobs annually support another 1,500 jobs or so throughout the state. These 1,500 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state (induced jobs). The direct …

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 …

Gambling Opinions And Participation In Kentucky Versus The Other 49 States, Thomas E. Lambert

Faculty Scholarship

Much has been written in the Kentucky press over the last few years about how the state is falling behind other states due to Kentucky’s absence of traditional casinos, sports gambling on the NFL, NCAA, etc., and other gambling forms. A major topic has been the potential tax revenues that would be collected if some forms of gambling are legalized in the state. Yet not much has been written about how Kentucky citizens differ from or are similar to citizens in other states with respect to opinions about gambling morality, gambling and spending preferences, and gambling policy. State laws are …

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 …