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Do casinos export bankruptcy?

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Author Info
Garrett, Thomas A.
Nichols, Mark W.

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Abstract

This paper measures the extent to which destination resort casinos export bankruptcy back to visitors' home states. Previous literature has alluded to this possibility, but previous research has not examined the issue. Using various survey data, we calculate the number of visits from each state to casino resort destinations in Nevada, New Jersey, and Mississippi. We find strong evidence that states having more residents who visit out-of-state casino resorts have roughly 10% higher bankruptcy filing rates, on average. This effect is dominant in the south, suggesting that casinos located in wealthier regions are less likely to export bankruptcy.

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Publisher Info
Article provided by Elsevier in its journal The Journal of Socio-Economics.

Volume (Year): 37 (2008)
Issue (Month): 4 (August)
Pages: 1481-1494
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Handle: RePEc:eee:soceco:v:37:y:2008:i:4:p:1481-1494

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Web page: http://www.elsevier.com/locate/inca/620175

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Richard Thalheimer & Mukhtar M. Ali, 2004. "The Relationship of Pari-mutuel Wagering and Casino Gaming to Personal Bankruptcy," Contemporary Economic Policy, Western Economic Association International, vol. 22(3), pages 420-432, 07. [Downloadable!] (restricted)
  2. John M. Barron & Michael E. Staten & Stephanie M. Wilshusen, 2002. "The Impact Of Casino Gambling On Personal Bankruptcy Filing Rates," Contemporary Economic Policy, Western Economic Association International, vol. 20(4), pages 440-455, October. [Downloadable!] (restricted)
  3. William N. Evans & Julie H. Topoleski, 2002. "The Social and Economic Impact of Native American Casinos," NBER Working Papers 9198, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Otto Eckstein & Allen Sinai, 1986. "The Mechanisms of the Business Cycle in the Postwar Era," NBER Chapters, in: The American Business Cycle: Continuity and Change, pages 39-122 National Bureau of Economic Research, Inc. [Downloadable!]
  5. William R. Eadington, 1999. "The Economics of Casino Gambling," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 173-192, Summer. [Downloadable!] (restricted)
  6. Ian Domowitz & Robert L. Sartain, 1999. "Determinants of the Consumer Bankruptcy Decision," Journal of Finance, American Finance Association, vol. 54(1), pages 403-420, 02. [Downloadable!] (restricted)
  7. Nichols, Mark W. & Grant Stitt, B. & Giacopassi, David, 2000. "Casino gambling and bankruptcy in new United States casino jurisdictions," The Journal of Socio-Economics, Elsevier, vol. 29(3), pages 247-261, May. [Downloadable!] (restricted)
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  1. Mark W. Nichols & Mehmet Serkan Tosun, 2007. "The Income Elasticity of Casino Revenues: Short-Run and Long-Run Estimates," Working Papers 07-015, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics. [Downloadable!]
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