Annotated Bibliography

Cotti, C. The effect of casinos on local labor markets: A county level analysis. Journal of Gambling Business and Economics vol. 2 (2008). pp. 17-41.

The economic outcomes surrounding the dramatic spread of “Las Vegas” style casinos in the United States has become a point of great interest and inquiry both politically and academically. Prior research has tended to focus on regional studies and provided uniform conclusions regardless of differences in the nature of the community. Moreover, much of the previous empirical work fails to account for local level trends during estimation. By using a comprehensive data set on employment and earnings from across the US, and by including county-specific trends, this research hopes to alleviate these earlier concerns, as well as help reconcile differences in the early literature surrounding casino effects on related industrial sectors. Basic findings suggest that counties experience an increase in employment after a casino opens, but there seems to be no measurable effect on average earnings. More detailed analysis reveals that the effect on industries related to casinos is somewhat mixed, but in general mildly positive, as casinos provide a positive employment and earnings spillovers into the surrounding local community. Intertemporal estimation suggests that the casino effect changes over time, but also finds that time effects vary across sectors. Estimates of how overall effects vary across different population sizes find that employment growth is inversely related to county population. Finally, additional estimation finds little impact on employment levels in neighboring counties, although there are some small effects in certain industries.

Eadington, W. R. The economics of casino gambling. Journal of Economic Perspectives vol. 13 (1999). pp. 173-192.

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.

Retreived from Casino News. http://www.casino.com/news/, Accessed on March 14, 2012

This article retrieves news of different casinos based on the their economic and financial activities. The updates in the year 2012 regarding the casinos across globe includes news regarding: Casino in Iowa Sued after Major Slots Malfunction reads $42 Million Payout, Multiple Workers Hurt during Accident at Build Site for Cincinnati Casino, New Debate about Allowing Casinos in United States Virgin Islands, 2012 Will See a Rise in the Protection of Online Casino Players, Calvin Ayres Provides his Online Gaming Industry Predictions for 2012: Part 2, It is Time to Start Your Betting for the United States Presidential Race, Calvin Ayres Provides his Online Gaming Industry Predictions for 2012: Part 1, Singapore Strip Outstrips the Las Vegas Strip, This Year's Casino Betting on ...