Is Casino Gaming a Productive Sector? A Conceptual and Cross-jurisdiction Analysis

Ricardo Siu
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Ricardo Siu: University of Macau

Journal of Gambling Business and Economics, 2007, vol. 1, issue 2, 129-146

Abstract: Casino gaming has been one of the world's fastest growing service sectors since the 1970s. Different from the traditional service sectors which are theoretically extensions of physical goods production in an economy, casino gaming is a form of entertainment service intending to satisfy a specific form of human desire - to pay for a chance to win. Despite the practical difficulties in measuring the economic output and input of casino gaming, data released by the industry suggest that this is a very productive sector. In principle, while social costs associated with the provision of casino gaming may downgrade its productivity, promotion of investment, production and consumption of non-gaming services should be reckoned as part of the productivity of modern casino gaming.

Keywords: CASINO GAMING; PRODUCTIVITY; DEVELOPMENT (search for similar items in EconPapers)
JEL-codes: L83 O47 (search for similar items in EconPapers)
Date: 2007
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