Location

Caesars Palace, Las Vegas Pompeian II

Start Date

30-5-2013 2:00 PM

End Date

30-5-2013 3:30 PM

Abstract

Taking into consideration of the unique features and practice of casino gaming, the significance of law in the development of this industry, and the onging interactions between law, the industry’s succeeding performance and its spillover effects are generalized and illustrated in this paper. Based on the rationales of law and economics, and the institutional approach to economic analysis, a functional model is constructed to depict the related interplaying forces and the development of casino gaming. In principle, it is shown that business scope and scale of casino gaming is largely defined by law on one hand, and the revisions of related regulations are interactively influenced by the industry’s performance and its spillover effects on the other hand. By compiling some related evidences from the major Asian casino jurisdictions (Macao, Singapore, Malaysia, South Korea), it is revealed that the practice of casino gaming is indeed a combined dynamics of law and its spillover effects.

Disciplines

Gaming and Casino Operations Management | Gaming Law | International Business | Law | Public Affairs, Public Policy and Public Administration | Statistics and Probability

Comments

Moderator: I. Nelson Rose

Session 3-3-B Global Perspectives on Gambling, Law, and Regulation

File: Paper

 
May 30th, 2:00 PM May 30th, 3:30 PM

Session 3-3-B: The interplay between law, development and spillover effects of casino gaming: Theory and the Asian evidences

Caesars Palace, Las Vegas Pompeian II

Taking into consideration of the unique features and practice of casino gaming, the significance of law in the development of this industry, and the onging interactions between law, the industry’s succeeding performance and its spillover effects are generalized and illustrated in this paper. Based on the rationales of law and economics, and the institutional approach to economic analysis, a functional model is constructed to depict the related interplaying forces and the development of casino gaming. In principle, it is shown that business scope and scale of casino gaming is largely defined by law on one hand, and the revisions of related regulations are interactively influenced by the industry’s performance and its spillover effects on the other hand. By compiling some related evidences from the major Asian casino jurisdictions (Macao, Singapore, Malaysia, South Korea), it is revealed that the practice of casino gaming is indeed a combined dynamics of law and its spillover effects.