Casinonomics pp 233-252 | Cite as

Relationships Among Gambling Industries

  • Douglas M. Walker
Part of the Management for Professionals book series (MANAGPROF)


In Part I of the book we examined the theoretical ways in which casinos could generate economic growth. We also found empirical evidence that suggests casinos do, in fact, have a positive growth effect at the state level. Also in Part I, however, we examined some of the criticisms of casinos. One key argument is that casinos expand at the expense of other industries. This is the so-called “substitution effect.” In Chap. 17 we addressed this issue with respect to non-gambling industries. However, the analysis covered only one market (Detroit) and only for commercial real estate values. There have been several other studies in the literature to examine the impact of casinos on property values, as cited in Chap. 17.


Adjacent State Seemingly Unrelated Regression Horse Racing Inverse Mill Ratio Casino Gambling 
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Copyright information

© Springer Science+Business Media New York 2013

Authors and Affiliations

  • Douglas M. Walker
    • 1
  1. 1.Department of Economics & FinanceCollege of CharlestonCharlestonUSA

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