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Article
Publication date: 12 May 2020

Matthew Tingchi Liu, Shiying Dong, Sara Kit Peng Chang and Francis Tan

The purpose of this study is to summarize the factors that result in V-shape rebound of Macau gambling industry's from 2014 to 2019. Both internal and external factors are…

Abstract

Purpose

The purpose of this study is to summarize the factors that result in V-shape rebound of Macau gambling industry's from 2014 to 2019. Both internal and external factors are examined and discussed by representatives from academia, industry and government.

Design/methodology/approach

Practitioners from the gambling industry offered their cutting-edged analysis and viewpoints with observation and comments from scholars and government representatives in gambling domain.

Findings

Internally, actions are taken by both the Macau government and Macau casino operators to rebrand Macau with nongambling elements and to adjust the strategies to attract more tourists from a wider range. Externally, global economic upturn and support from the China government also enhance Macau's quick rebound. A total of nine key factors are finally recognized.

Originality/value

This study provides answers and sense-making explanations to why Macau gambling industry can recover in such a short time after a big drop in Gross Gambling Revenue in 2014. This work reveals that Macau, by learning the lessons from the dramatic decline, conducts various self-rescue action plans which contribute to the quick V-shape rebound. This study is also a self-examination of Macau gambling industry from the firsthand perspectives of scholars, government representatives and casino management.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 33 no. 2
Type: Research Article
ISSN: 1355-5855

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Article
Publication date: 9 July 2018

Virve Marionneau and Veera Kankainen

Gambling is used to raise public funds through taxes, fees and direct contributions. The rent generated can be distributed through two basic models: absorbing the surplus…

Abstract

Purpose

Gambling is used to raise public funds through taxes, fees and direct contributions. The rent generated can be distributed through two basic models: absorbing the surplus into state budgets and institutions, or channeling funds to civil society organizations (CSOs). However, gambling also causes negative externalities. The purpose of this paper is to focus on how the beneficiaries of gambling in two societies representing these opposite models respond to the moral issue of accepting funds from a source that causes harm to some.

Design/methodology/approach

The analysis is conducted by applying the moral disengagement (MD) model to qualitative interviews conducted with beneficiaries of gambling in Finland and France. In Finland, the majority of gambling revenue is redistributed to CSOs, who also exercise a strong influence and are heavily involved in the system. In France, most gambling proceeds are directed to the central state, making other beneficiaries less powerful.

Findings

The results of this paper show that in France, where the state is a strong beneficiary, other actors express more political awareness and debate than in the Finnish model in which CSOs benefit and are tightly implicated in the system. On the other hand, the involvement of Finnish actors in the system encouraged them to accept moral responsibility for the harm caused by gambling.

Originality/value

The paper provides policymakers information on beneficiaries’ implication and position in different types of models of dividing the rent of gambling, and the academic audience with a comparative and sociological application of the MD model.

Details

International Journal of Sociology and Social Policy, vol. 38 no. 7-8
Type: Research Article
ISSN: 0144-333X

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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: 3 September 2021

Alexandros Kalaitzakis, Petros Lois and Spyros Repousis

The purpose of this study is to empirically examine the efficiency of Greek fixed-odds (offline) betting market as offered by OPAP for the period 2016–2019.

Abstract

Purpose

The purpose of this study is to empirically examine the efficiency of Greek fixed-odds (offline) betting market as offered by OPAP for the period 2016–2019.

Design/methodology/approach

Using a four-year data sample of OPAP's opening and closing odds for football matches from all over the world and applying linear probability and probit models, the market efficiency is examined and the existence of possible anomalies is investigated.

Findings

The main findings of research suggest that although the odds are dominated primarily by favorite-longshot bias and secondarily by draw bias, this mispricing cannot prove profitable. However, the opening odds, the margin levels and the market structure provide information that is not fully captured by the closing odds, giving bettors profit opportunities. Thus, findings show that the semi-strong market efficiency is questionable. Finally, competition reduces commissions leading to more efficient odds.

Practical implications

The conclusions of this study are useful for football betting market and, particularly, for government authorities, bookmakers and bettors. Findings can be extended in future research to prediction tasks.

Originality/value

To the best of the authors’ knowledge, this is the first study about the Greek football betting market. The contribution to the literature lies on the one hand in the examination of a monopolistic land-based betting market, which is being squeezed and threatened by the more competitive online betting market, and on the other hand in the simultaneous examination of the opening and closing odds.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Content available
Article
Publication date: 29 April 2021

Kasra Ghaharian, Brett Abarbanel, Marta Soligo and Bo Bernhard

The purpose of this paper is to examine crisis management practices among gambling-related hospitality business stakeholders (GBSs) during the coronavirus disease 2019…

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2029

Abstract

Purpose

The purpose of this paper is to examine crisis management practices among gambling-related hospitality business stakeholders (GBSs) during the coronavirus disease 2019 (COVID-19) pandemic.

Design/methodology/approach

An online survey was administered to a sample of GBSs resulting in 64 completed surveys. The survey explored the COVID-19 crisis using a three-phase framework: preparedness (prior experience and response plans), response (level of importance and use of crisis practices) and future (confidence in recovery, beliefs about consumer behavior and new strategies). Independent-samples t-tests were conducted to investigate the influence of preparedness variables on crisis management capabilities. Importance-Performance Analysis was used to evaluate GBSs' crisis management capabilities and identify where performance might be improved. Factor analyses were employed to explore groupings of response practices as well as future strategies.

Findings

Prior experience had a significant impact on GBSs' crisis management. IPA indicated gaps between the importance GBSs assign to response practices and their corresponding level of use, specifically for those related to marketing and government. Factor analysis revealed response practices did not group according to the questionnaire's four themes, instead, three themes of marketing, efficiency and expenses were revealed. Prevention and hygiene emerged as dominant themes with respect to future strategies.

Originality/value

This is a timely study that investigates crisis management among GBSs during the COVID-19 pandemic. It provides important methodological contributions as well as valuable practical considerations for gambling-related hospitality businesses.

Details

International Hospitality Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2516-8142

Keywords

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Article
Publication date: 19 March 2018

Fabio La Rosa and Francesca Bernini

This study aims to explore how the economic recession and some corporate governance (CG) provisions can affect the performance of Italian gambling small and medium-sized…

Abstract

Purpose

This study aims to explore how the economic recession and some corporate governance (CG) provisions can affect the performance of Italian gambling small and medium-sized enterprises (SMEs) across different business segments.

Design/methodology/approach

This study uses a panel sample of 2,135 observations before and during the global financial crisis. Specifically, the roles of ownership, boards of directors, chief executive officer gender and gambling business segments are investigated in the Italian gambling market.

Findings

Ownership concentration has a negative relationship with the performance of foreigner- and financial-owned firms, while boards exert a positive role on performance. Interestingly, the financial crisis does not impact the performance of Italian gambling SMEs and some business segments, such as bingo, perform even better during the crisis.

Research limitations/implications

Further investigations should analyze the role of single games on firm performance. The consumer- and firm-level examinations offer very different perspectives and scholars should be aware of this when investigating the gambling industry.

Practical implications

This study might help both policymakers and other gambling firms, such as casinos, to better understand which appropriate CG model should be adopted and how it can positively influence performance, especially in recessionary times.

Originality/value

This study contributes to studies on hospitality and tourism by focusing on the complementary role of gambling SMEs with respect to casinos. It also increases knowledge on the role of CG in privately owned gambling firms, which thus far has been scantly investigated by scholars.

Details

International Journal of Contemporary Hospitality Management, vol. 30 no. 3
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 26 March 2021

Loretta Lou

This purpose of this paper is to explain Macau’s successful pandemic response through an analysis of its social, political and economic landscapes. In particular, it…

Abstract

Purpose

This purpose of this paper is to explain Macau’s successful pandemic response through an analysis of its social, political and economic landscapes. In particular, it focusses on the economic relief brought by casino capitalism in this era of COVID-19.

Design/methodology/approach

As mobility is highly restricted during the coronavirus pandemic, digital technologies have become central to ongoing social science research. Thanks to videoconferencing programmes such as Zoom, Facetime and WhatsApp, the author was able to carry out virtual interviews with 13 local people from different sectors of Macau in July 2020. In addition to in-depth interviews, the author also undertook an extensive review of the Macau government’s pandemic policies.

Findings

This paper argues that the Macau government’s swift and effective coronavirus policies are deeply intertwined with the urban fabric and political economy of the city’s casino capitalism, which endowed the government with surplus funds and an infrastructure that enabled the implementation of an array of strict measures that few other countries could afford to subsidise. Factors that have led to Macau’s extraordinarily low rates of COVID-19 infections and deaths include: competent leadership and the public’s high compliance with mandatory health measures; the generous benefits and financial support for citizens and businesses; and the compulsory quarantine required of all incoming travellers, who are lodged in hotel rooms left empty when casino tourists stopped coming. All of these measures have been made possible by a political economy backed by the peculiarities of casino capitalism and its resultant tax revenues.

Research limitations/implications

Future research could compare the case of Macau with other small but affluent economies (ideally economies that do not depend on the gambling industry) to ascertain the role of casino capitalism in building up economic resilience.

Originality/value

Although previous studies tend to emphasise the negative impacts of casino capitalism, this paper shows how tax revenues and infrastructure from the gambling industry can make a contribution to the host society in times of crisis.

Details

Social Transformations in Chinese Societies, vol. 17 no. 2
Type: Research Article
ISSN: 1871-2673

Keywords

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Article
Publication date: 11 August 2020

Carlos Siu Lam

The purpose of this paper is to discuss the evolution of Macao's gaming credit practices with reference to its promulgation of the gaming credit law after its gaming…

Abstract

Purpose

The purpose of this paper is to discuss the evolution of Macao's gaming credit practices with reference to its promulgation of the gaming credit law after its gaming liberalization.

Design/methodology/approach

A qualitative approach based on in-depth interviews with casino executives, government officials and gamblers to probe their perspectives on Macao's gaming credit practices was adopted due to its underresearched nature. Documentary analysis of annual reports and court files was also used.

Findings

Despite the potential of increased revenue with more credit, the credit risk for gaming concessionaires remained under control, while VIP-rooms and junket operators have adopted more prudent policy and faced substantial challenge in credit collection. All these would lead to greater alignment with law-based credit practices.

Research limitations/implications

Since gaming credit information was considered confidential, the author experienced difficulty in arranging the interviews, and the nonprobability sampling characterized by the selection bias might affect the findings.

Practical implications

The findings have demonstrated some major credit practices such as credit charges on credit balances and terms and conditions for repayment for different credit providers in Macao.

Originality/value

The different credit practices by credit providers at different levels of gaming credit have been presented in the same paper.

Details

Asian Education and Development Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-3162

Keywords

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