We empirically analyze the return on investment of different casino resort amenities (e.g., casinos, hotels, restaurants, and other entertainment). We model casino corporation stock prices using regression analysis of cross-sectional time series data. Stock prices are explained by variables that represent firm-level investments in and revenues from different functional areas of the typical casino resort, and two macroeconomic control variables. Results are sensitive to the dependent return variable chosen; and revenue variable results differ from expenditure variable results. This suggests that subsequent research should focus on market-specific analyses, which may help to determine which amenities provide greatest returns in particular markets.
Bryant, Lonnie and Walker, Doug, "Profitability and return on investment from casino amenities" (2010). UNLV Caesars Hospitality Research Center Grant (previously Harrah Hospitality Research Center Grant). Paper 1.