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The Economics of Casino Gambling

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  • William R. Eadington

Abstract

America's casino industry expanded rapidly in the 1990s, spreading from Nevada and Atlantic City to mining towns, riverboats, race tracks and tribal lands, and moving from isolated resort settings to urban and suburban venues. This article examines economic characteristics of the casino industry, including the evolution of major casino markets, pricing of gaming products, market structures, regulatory constraints, and social and economic impacts attributable to casinos. When competitive, casinos show strong economies of scale and scope, but many new jurisdictions limit the number or size of operations, thus creating substantial economic rents. Allocation of these rents are fundamentally politically determined.

Suggested Citation

  • William R. Eadington, 1999. "The Economics of Casino Gambling," Journal of Economic Perspectives, American Economic Association, vol. 13(3), pages 173-192, Summer.
  • Handle: RePEc:aea:jecper:v:13:y:1999:i:3:p:173-192
    Note: DOI: 10.1257/jep.13.3.173
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.3.173
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    References listed on IDEAS

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    1. Walker, Douglas M. & Jackson, John D., 1998. "New Goods and Economic Growth: Evidence from Legalized Gambling," The Review of Regional Studies, Southern Regional Science Association, vol. 28(2), pages 47-70, Fall.
    2. John D. Donahue, 1997. "Tiebout? Or Not Tiebout? The Market Metaphor and America's Devolution Debate," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 73-81, Fall.
    3. Charles T. Clotfelter & Philip J. Cook, 1989. "Selling Hope: State Lotteries in America," NBER Books, National Bureau of Economic Research, Inc, number clot89-1, April.
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    More about this item

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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