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The economics of casino taxation

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Author Info
Hasret Benar
Glenn Jenkins

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Abstract

In this article, a model of the costs of a casino is developed that focuses on the implications for economic welfare of different taxation schemes for casinos. The situation being considered is in a country where casinos cater exclusively to foreign tourists. The goal of the country is to determine the maximum amount of taxes that can be extracted from the activities of this sector under different systems of taxation. When the price of gambling is set by regulation above its competitive level, the economic losses created by excessive investment in the sector can be reduced by taxation. A turnover tax on the amount gambled can maximize both tax revenue and the economic welfare of the country. Due to administrative constraints, a number of countries rely on the taxation of the casinos' fixed assets or a combination of a turnover tax and a tax on fixed costs. The model is applied to the situation in North Cyprus. The annual economic efficiency loss from its poorly designed tax policies on casino gambling is estimated to be about 0.5% of GDP.

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Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 40 (2008)
Issue (Month): 1 ()
Pages: 63-73
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Handle: RePEc:taf:applec:v:40:y:2008:i:1:p:63-73

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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. Cook, Philip J & Clotfelter, Charles T, 1993. "The Peculiar Scale Economies of Lotto," American Economic Review, American Economic Association, vol. 83(3), pages 634-43, June. [Downloadable!] (restricted)
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  2. N. Gregory Mankiw & Michael D. Whinston, 1986. "Free Entry and Social Inefficiency," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 48-58, Spring. [Downloadable!] (restricted)
  3. 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)
  4. Julie Smith, 2000. "Gambling Taxation: Public Equity in the Gambling Business," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 33(2), pages 120-144. [Downloadable!] (restricted)
  5. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2002. "A Policy Response To The E--Commerce Revolution: The Case Of Betting Taxation In The UK," Economic Journal, Royal Economic Society, vol. 112(480), pages F296-F314, June. [Downloadable!] (restricted)
  6. Richard Thalheimer & Mukhtar M. Ali, 2003. "The demand for casino gaming," Applied Economics, Taylor and Francis Journals, vol. 35(8), pages 907-918, January. [Downloadable!] (restricted)
  7. Stephen Fink & Jonathan Rork, 2003. "The Importance of Self-Selection in Casino Cannibalization of State Lotteries," Economics Bulletin, Economics Bulletin, vol. 8(10), pages 1-8. [Downloadable!]
  8. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2001. "Gambling Taxation: A Comment," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 34(4), pages 437-440. [Downloadable!] (restricted)
  9. Clotfelter, Charles T & Cook, Philip J, 1990. "On the Economics of State Lotteries," Journal of Economic Perspectives, American Economic Association, vol. 4(4), pages 105-19, Fall. [Downloadable!] (restricted)
  10. David Paton & Donald S. Siegel & Leighton Vaughan Williams, 2003. "Taxation and the Demand for Gambling: New Evidence from the United Kingdom," Rensselaer Working Papers in Economics 0306, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
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