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This paper investigates relationships among casino revenue, crime rates, and the number of visitors in Las Vegas, Nevada. Numerous studies have attempted to assess the impact of casino activities on crime rates but have provided inconclusive results. Some studies have found that casino activities increase crime rates, while others find no significant relationship between casino gambling and crime rates. But all studies that have found casinos increase crime rates do not adjust the crime rate for the number of visitors to the area. The impact of casino activities on crime rates disappears, however, when crime rates are adjusted for visitors. This study revisits the question with consideration for the potential endogeneity among variables. This paper addresses endogeneity concerns by estimating the impact of casino activities on crime using a system of equations to represent casino activities, adjusted crime rates, and visitors. Three stage least squares is used to estimate the system. Results show that the impact of casino activities on crime rates persists even after crime rates are adjusted for the visitors. Efforts to reduce crime can be effective in boosting the Las Vegas regional economy. [ABSTRACT FROM AUTHOR]

In February of 2009 and 2010, President Obama made what some in the media and gaming industries construed as negative public statements regarding trips to Las Vegas. Some claimed these statements could easily be interpreted as a suggestion that companies and individuals avoid casino areas, thus doing additional harm to their surrounding economies during already tough times. In this paper, we use event study methodology to examine stock market reactions ofU.S. casino-related businesses to the president's statements. We find that President Obama's statements were followed by significant negative abnormal returns in the segment of companies targeted more towards conventions, trade shows, and tourism, and by significant positive abnormal returns for companies with more of a local/regional focus. Our findings suggest that the president's statements did not adversely affect all casino-related businesses, but they also were not benign. [ABSTRACT FROM AUTHOR]

This study explores the spaces of globalization by the globalized businesses of gambling, entertainment, and resort operations. In particular, it re-examines how the real estate development, finance, and entertainment industries have allied in the early twenty-first century in two unusual spatial settings: a newly returned territory to the People's Republic of China (PRC), or the Macau Special Administrative Region (SAR), and Clark County, Nevada in the United States of America (USA) with the city of Las Vegas at its core. Neither of these sites is known for its cosmopolitan sophistication, but socio-economic networks of the global gaming, resort, shopping, and entertainment industries are using the theme park motifs rooted in huge new casino properties to generate a simulated cosmopolitan allure, which could be characterized as 'casinopolitanism'. This paper analyzes how the fantasy destination spaces built by gaming corporations unfold as packaged globalist cultural revolutions and casinopolitan modes of life in the otherwise (un)(under)valorized spaces of Macau and Nevada. Este estudio explora los espacios de la globalizacion, mediante los negocios globalizados del juego, entretenimiento y operaciones de centros vacacionales. En particular, reexamina como el desarrollo de los bienes raices, las finanzas y las industrias de entretenimiento se han aliado a principios del siglo veintiuno en dos entornos espaciales: un nuevo territorio recientemente devuelto a la Republica Popular de la China (RPC), o la Region Administrativa Especial de Macao (SAR) y el Condado de Clark, Nevada en los Estados Unidos de America (E.E.U.U.) con la ciudad de Las Vegas en su centro. Ninguno de estos sitios se conoce por su sofisticacion cosmopolita, mas por sus redes socio-economicas del juego global, centros vacacionales, comercio e industrias de entretenimiento, que estan usando los motivos de los parques tematicos arraigados en nuevas propiedades inmensas de casinos, para generar una atraccion cosmopolita simulada, que podria caracterizarse como 'casinopolitanismo'. Este articulo analiza como los espacios del destino de la fantasia construidos por las corporaciones del juego, se presentan como revoluciones culturales globalistas empaquetadas y modos de vida casinopolitas en otros espacios (des)(sub) valorizados de Macao y Nevada. [image omitted] [ABSTRACT FROM AUTHOR]

Local gamblers are an important market segment for casino marketers providing a reliable source of revenue during slow periods. This paper presents selected gaming behavior of local residents in the Las Vegas area, linking socio-demographic characteristics with gaming behavior. In addition, this article examines the relationships of Las Vegas area locals and their visiting friends and family members in two aspects. First, we identified the influence local residents have on visiting friends and family in terms of recommendations made regarding gambling in general and specific gaming locations. Second, this article describes how visiting friends and family influence local residents in terms of gaming behavior and additional spending. [ABSTRACT FROM AUTHOR]