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Article
Publication date: 1 February 2001

Jon Mills

Since the end of the Second World War, American society has seen the emergence of technology promising to make life easier, better and longer lasting. The more recent…

Abstract

Since the end of the Second World War, American society has seen the emergence of technology promising to make life easier, better and longer lasting. The more recent explosion of the Internet is fulfilling the dreams of the high‐tech pundits as it provides global real‐time communication links and makes the world's knowledge universally available. Privacy concerns surrounding the development of the Internet have mounted, and in response, service providers and website operators have enabled Web users to conduct transactions in nearly complete anonymity. While anonymity respects individual privacy, it also facilitates criminal activities needing secrecy. One such activity is money laundering, which is now being facilitated by the emerging Internet casinos industry. These casinos can be physically located anywhere with websites available worldwide. Internet casinos were a target of legislation by the US Congress, but the legislation, the Internet Gambling Prohibition Act, failed to pass. So, at the moment, Internet casinos are a virtually unregulated mechanism for laundering illegal funds.

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Journal of Financial Crime, vol. 8 no. 4
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 8 June 2015

Matthew Tingchi Liu, Tina Tsing Gya Chang, Edmund H. N. Loi and Andrew Chi Hong Chan

The viewpoints from industry briefly review the success in last decade, analyze what challenges and difficulties came across currently and forecast…

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Abstract

Purpose

The viewpoints from industry briefly review the success in last decade, analyze what challenges and difficulties came across currently and forecast opportunities/development in next decade of Macau gambling industry. The paper aims to discuss these issues.

Design/methodology/approach

Practitioners from banking and gambling industries offered their cutting-edged analysis and viewpoints with scholars’ observation.

Findings

Macroeconomic and political factors in China are the principal direct cause of Macau’s gambling revenue decline in 2014, implicating the vulnerability and unsustainability associated with the VIP business model of gambling industry. Although Macau continues to face challenges since late 2014, the prospect of Macau gambling industry is still optimistic in the long term, as there are emerging positive catalysts which will boost demand. From casino operators’ perspective, they should continue to try to increase revenue from mass market and non-gambling business by relocating the resource and adding more non-gambling amenities.

Originality/value

This paper provides a fresh perspective, and a new line of thinking with regard to how gambling industry in Macau will develop in next decade since 2015. It therefore potentially directs a new path of research in the area.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 27 no. 3
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 1 September 2004

Rhys Stevens and Maureen Beristain

The rapid expansion of the Canadian gambling industry since 1969 has generated substantial profits for provincial governments and industry operators. As gambling expands…

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1741

Abstract

The rapid expansion of the Canadian gambling industry since 1969 has generated substantial profits for provincial governments and industry operators. As gambling expands its reach and regulatory structures evolve, a growing body of researchers is starting to scrutinize the industry and its socio‐economic impacts on Canadians. This article provides background information on Canada's gambling industry and presents an overview of essential information resources.

Details

Reference Services Review, vol. 32 no. 3
Type: Research Article
ISSN: 0090-7324

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Book part
Publication date: 9 April 2019

Barrie Gunter

Abstract

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Gambling Advertising: Nature, Effects and Regulation
Type: Book
ISBN: 978-1-78769-923-6

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Article
Publication date: 16 March 2010

Karen D.W. Patterson, Marvin Washington, David Cavazos and Keith Brigham

The purpose of this paper is to deal with the issue of market redefinition through an examination of a unique industry that has met with multiple obstacles: online gambling

Abstract

Purpose

The purpose of this paper is to deal with the issue of market redefinition through an examination of a unique industry that has met with multiple obstacles: online gambling. The main research question is how markets get redefined when quantum technological change occurs, despite the lack of formal support and a highly fragmented industry structure, typical in online industries.

Design/methodology/approach

This industry lends itself to the analysis because of the intense competition for reconstruction of the field among state powers, professional associations, and global forces. The paper provides an archival and qualitative overview of the industry and identify the various forces competing for dominance in the market. It examines the competing logics in this industry and identify the sources and implications of such competition for emerging markets.

Findings

Both broad and specific contributions of this paper are discussed, namely the important role of professional and interest associations in industries without clear geographical boundaries, as well as the growing role for global moderating agencies.

Research limitations/implications

The paper provides a timely example of the ways in which firms organize in the modern business environment. In addition, it discusses the volatile and complex power structure in a global economy. While the research is necessarily processual and does not provide for multiple settings, the extent of legal implications here can be generalized to much smaller differences in global markets.

Originality/value

This paper provides support for the idea that, contrary to many concepts of industry acceptance and growth, legitimacy is not a requisite condition for an industry to prosper.

Details

International Journal of Organizational Analysis, vol. 18 no. 1
Type: Research Article
ISSN: 1934-8835

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Article
Publication date: 1 March 1984

Arthur E. Carey and Kjestine R. Carey

Gambling has been a part of the human experience for a long time, perhaps as long as humans have interacted socially. Its literature has been accumulating since ancient…

Abstract

Gambling has been a part of the human experience for a long time, perhaps as long as humans have interacted socially. Its literature has been accumulating since ancient times, with references found in some of the earliest records. Throughout history gambling has had a bad reputation because of the multitude of social problems attributed to it. The gambling industry today refers to the activity as “gaming,” which does not sound quite as notorious.

Details

Reference Services Review, vol. 12 no. 3
Type: Research Article
ISSN: 0090-7324

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Book part
Publication date: 19 May 2009

Joseph Bosco, Lucia Huwy-Min Liu and Matthew West

A little-known “lottery fever” has spread to many parts of rural China over the past 10 years. This is driven by participation in underground lotteries with local bookies…

Abstract

A little-known “lottery fever” has spread to many parts of rural China over the past 10 years. This is driven by participation in underground lotteries with local bookies. It is called liuhecai, which is the name of the Hong Kong lottery, and is based on guessing the bonus number of the Hong Kong Mark Six lottery. Such lotteries are illegal, but are an open secret. This chapter seeks to understand the meaning of this apparently irrational lottery fever: why people participate in it, why they believe the conspiracy theory that it is rigged (and yet still participate), and why similar lotteries have emerged in both capitalist Taiwan and post-socialist China at this particular time.

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Economic Development, Integration, and Morality in Asia and the Americas
Type: Book
ISBN: 978-1-84855-542-6

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Article
Publication date: 22 April 2003

Ed Edwards and Ajay Samant

This study evaluates risk‐adjusted performance of socially responsible mutual funds during the period 1991‐2000, using objective statistical measures grounded in modern…

Abstract

This study evaluates risk‐adjusted performance of socially responsible mutual funds during the period 1991‐2000, using objective statistical measures grounded in modern portfolio theory. A socially responsible mutual fund is defined as one which employs “social screens” in stock selection, such as whether a fi rm manufactures tobacco products, whether it is in the gambling business, whether it heeds environmental safety, its human rights records, etc. The main objective of this study is to provide empirical documentation on the risk‐adjusted returns of these mutual funds, for the benefit of investors. To our knowledge, this is one of the first, if not the first, academic study to utilize a relatively new risk‐adjusted performance measure, posited by Nobel Laureate Franco Modigliani and Leah Modigliani in 1997 (hereafter referred to as M Squared), to evaluate socially responsible mutual funds. The idea that underlies their methodology is to adjust the investment risk of a mutual fund to the level of risk in an unmanaged benchmark stock‐market index and then measure the returns on the risk‐matched fund. The M Squared measure not only relates the level of risk to the level of reward, but also enables risk‐adjusted returns to be reported on a percentage basis, rather than on an absolute basis, which makes them more easily understood by the average investor. The results of this study can be used in decision making by investors who seek objective criteria to select a socially responsible mutual fund from among a menu of several funds.

Details

American Journal of Business, vol. 18 no. 1
Type: Research Article
ISSN: 1935-5181

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Article
Publication date: 6 August 2018

Zenu Sharma and Liang Song

The purpose of this paper is to examine corporate social responsibility (CSR) practices of SIN firms. SIN firms are firms from controversial sectors such as tobacco…

Abstract

Purpose

The purpose of this paper is to examine corporate social responsibility (CSR) practices of SIN firms. SIN firms are firms from controversial sectors such as tobacco, alcohol, gambling and firearms.

Design/methodology/approach

This paper explains contrasts CSR practices of SIN firms with similar size and industry non-SIN counterparts.

Findings

This paper shows that SIN firms conduct more CSR practices than non-SIN firms. This paper also finds that CSR practices of SIN firms are value relevant only when these firms are performing below their peers.

Originality/value

The motivation for SIN firms to engage in higher CSR is the competitive advantage hypothesis and not moral rebalancing.

Details

Asian Review of Accounting, vol. 26 no. 3
Type: Research Article
ISSN: 1321-7348

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Case study
Publication date: 20 January 2017

Diana Harrington

This case describes management's sequential reevaluation of Marriott's debt capacity and the decision about how to invest this unused debt. Videotape #5556, “Strategic…

Abstract

This case describes management's sequential reevaluation of Marriott's debt capacity and the decision about how to invest this unused debt. Videotape #5556, “Strategic Leadership,” is designed for use with this case (see Videotape Bibliography).

Details

Darden Business Publishing Cases, vol. no.
Type: Case Study
ISSN: 2474-7890
Published by: University of Virginia Darden School Foundation

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