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AFTER THE GREAT RECESSION: THE FUTURE OF CASINO GAMING IN AMERICA AND EUROPE
Author(s) -
Eadington William R.
Publication year - 2011
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2010.02044.x
Subject(s) - recession , global recession , debt , cash , economics , great recession , business , slow growth , debt service coverage ratio , economic policy , economy , finance , market economy , labour economics , macroeconomics , external debt
The economic recession of 2007–09 had dramatic effects on spending on gambling and, therefore, on a number of major gaming companies, resulting in situations where cash flows were increasingly inadequate to service debt obligations. The recession thus interrupted growth trends in various segments of casino industries in America and Europe, which undermined future growth expectations and potential. This analysis examines economic events and other factors that have affected the casino industry in the last few years, and examines their implications for the future of casino and gaming markets in America and Europe.