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Title: A preliminary examination of the relationship between the stock market and casino gaming
Authors: Tsai, H 
Gu, Z
Keywords: Atlantic City
Gaming revenue
Las Vegas
Stock market
Substitution effect
Wealth effect
Issue Date: 2006
Publisher: Routledge, Taylor & Francis Group
Source: Journal of travel & tourism marketing, 2006, v. 20 , no. 2, p. 63-73 How to cite?
Journal: Journal of travel & tourism marketing 
Abstract: The study examined the relationship between the U.S. stock market and gaming revenues of the top two U.S. gaming destinations, Las Vegas and Atlantic City. The results show that stock market movement did affect casino gaming revenues in Las Vegas and Atlantic City, but in opposite directions, during the period January 1990-December 1999. While the positive correlation between the stock market and Las Vegas gaming revenue was likely due to a wealth effect, the negative association between the stock market and Atlantic City gaming revenue could result from a substitution effect. The findings of the study suggest that stock market movement may help gaming destinations better forecast gaming demand, hence, making their marketing and promotion more effective.
ISSN: 1054-8408
EISSN: 1540-7306
DOI: 10.1300/J073v20n02_05
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