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Full-Text Articles in Business
Anti-Money Laundering Programs For Casinos - A Comparison Of Macao And Us Practices, Carlos Siu, Malcolm Greenlees
Anti-Money Laundering Programs For Casinos - A Comparison Of Macao And Us Practices, Carlos Siu, Malcolm Greenlees
International Conference on Gambling & Risk Taking
Anti-Money Laundering Programs for Casinos: A Comparison of Macao and US Practice.
Recent world events have reemphasized the importance of controlling and reporting of terrorism financing – one of the major reasons for National and International Anti Money Laundering procedures since the early 1980’s.
Although initially focused on commercial banking operations, casinos have been brought under the scope of that legislation since 1990 – as “money service businesses.” The explosive growth of the Macao casino business on the world gaming since 1995 has led to implementation of new rules for the casinos operating in that jurisdiction.
The current research describes …
The Effect Of Casino Tax Policy On Short-Run Gaming Development, Kahlil Philander
The Effect Of Casino Tax Policy On Short-Run Gaming Development, Kahlil Philander
UNLV Theses, Dissertations, Professional Papers, and Capstones
This study examines the effect of casino tax rate structure on investment by casino operators. Using a panel data set consisting of all states with legal commercial casino gambling from 1998 to 2009, a fixed-effect model with two-stage least squares is estimated to examine the effect of gambling taxes on firms' short-run behavior. The study finds that maximum casino tax rates decrease casino employment, with an estimated average elasticity of -0.5. This result is noted to be robust to several different model specifications and data subsets. No robust relationship is found between maximum tax rates and casino wages. No significant …