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Do casinos export bankruptcy?

Thomas Garrett () and Mark Nichols

No 2005-019, Working Papers from Federal Reserve Bank of St. Louis

Abstract: This paper measures the extent to which destination resort casinos export bankruptcy back to visitors' home states. Previous literature has alluded to this possibility, but to date studies have only examined the influence of local casinos on local bankruptcy. Using various survey data, we calculate the number of visits from each state to casino resort destinations in Nevada, New Jersey, and Mississippi. We find strong evidence that states having more residents who visit out-of-state casino resorts have higher bankruptcy filings. This effect is dominant in the south, suggesting that casinos located in wealthier regions are less likely to export bankruptcy.

Keywords: Bankruptcy; Gambling industry (search for similar items in EconPapers)
Date: 2005, Revised 2005
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