UDEKOM BALKAN
  • Home
  • About us
    • Objectives
    • Institutions >
      • Assembly
      • Steering Committee
      • Council
    • Activities
    • Statute
  • Membership
    • Application
    • Membership procedure
  • Conferences
    • LIMEN 2015
    • ERAZ 2015
    • HR conference 2014
  • Courses
  • Publications
  • Contact
Srpski

4th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era

Picture

PERFORMANCE OF CASINO FIRMS: EMPIRICAL ANALYSIS OF SELECTED EU COUNTRIES
​
Igor Stubelj
University of Primorska, Faculty of Management, Cankarjeva 5, 6000 Koper, Slovenia

Luka Jeraša
Casino Portorož, Obala 75a, 6320 Portorož, Slovenia

Mateja Jerman
University of Primorska, Faculty of Management, Cankarjeva 5, 6000 Koper, Slovenia

DOI:   ​​https://doi.org/10.31410/tmt.2019.541
​
4th International Thematic Monograph -   Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2019,   Published by:  Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia;   ISSN 2683-5673,  ISBN 978-86-80194-29-5;   Editors:   Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia;   Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia,   Printed by:  SKRIPTA International, Belgrade

Abstract: The purpose of the paper is to analyse whether Slovene casino firms are successful in their
business and whether their performance differs from their competitors. To this end, the authors performed
an empirical analysis of Slovene, Croatian and Italian casino firms for the period 2013-2016.
The results show that there is a significant difference in ROE ratio between Slovenia and Croatia. Croatian
firms outperformed Slovenian casino firms. On the other hand, a significant difference in terms of
ROE was not confirmed by the comparative analysis of Slovenian and Italian firms. A further in-depth
analysis, which is grounded on DuPont scheme of financial ratios, shows additional significant differences
between countries considered in the analysis. The results of the study indicate possibilities for
future improvements of casinos’ performance.

Keywords: gaming industry, casino firms, performance, performance analysis.

​REFERENCES

​​​Assaf, G. A., Knezevic Cvelbar L., & Pahor, M. (2013). Performance drivers in the casino industry:
Evidence from Slovenia. International Journal of Hospitality Management, 32,
149-154.
Bisnode. (2018). Financial data. Retrieved from http: https://www.bisnode.si/
Day-Yang, L., Ya-Chiang, W., Wen-Min, L., & Cheng-Hsien, L. (2017). The Matthew effect
in the casino industry: A dynamic performance perspective. Journal of Hospitality and
Tourism Management, 31, 28-35.
Deng, Q., Gu, X., Law, R., & Lian, Z. (2020) (In Press). A comparative study for determinants
of gaming performance in Macao and Las Vegas. Tourism Management, 77.
Eadington, W. R. (2003). The spread of casinos and their role in tourism development. In Tourism
Development (pp. 135-150). Routledge.
Eadington, W.R. (2007). Gambling Policy in the European Union: Monopolies, Market Access,
Economic Rents, and Competitive Pressures among Gaming Sectors in the Member States.
Working Papers 07-005, University of Nevada, Reno, Department of Economics. Retrieved
from http://www.business.unr.edu/econ/wp/papers/UNRECONWP07005.pdf
Eadington. W.R. (2011). After the Great Recession: The Future of Casino Gaming in America
and Europe. Institute of Economic Affairs, 31(1), 27-33.
European Casino Association. (2015). ECA’s European Casino Industry Report 2014. Retrieved
from http://www.azarplus.com/fotos/file/ECA_2014_European_Casino_Report.pdf
European Casino Association. (2017). Italy – Casino sector. Retrieved from http://www.europeancasinoassociation.
org/country-by-country-report/italy/
European Commission. (2019). Cooperation Arrangement between the gambling regulatory authorities
of the EEA Member States concerning online gambling services. Retrieved from
https://ec.europa.eu/docsroom/documents/34701
Gambling Capital. (2013). Benchmark of Gambling Taxation and License Fees in Eight European
Member States. Retrieved from https://www.tweedekamer.nl/downloads/document?id=b-
53d39ec-957b-4c51-8760-31554671a428&title=Advies%20Gambling%20Capital.pdf
Government of the Republic of Croatia. (2009). Decision on the number of organizers to
whom may be granted the right to organize games of chance in casinos in the territory
of the Republic of Croatia. Retrieved from https://narodne-novine.nn.hr/clanci/sluzbeni/
full/2002_11_132_2136.html
Government of the Republic of Croatia. (2016). Decision on the number of organizers to
whom may be granted the right to organize games of chance in casinos in the territory
of the Republic of Croatia. Retrieved from https://narodne-novine.nn.hr/clanci/sluzbeni/
2016_10_92_1954.html
Government of the Republic of Slovenia. (2009). Amendments to the Gambling Act. Retrieved
from http://imss.dz-rs.si/imis/c3aecfba9465706cfb97.pdf
Government of the Republic of Slovenia. (2010a). Draft Strategy for the Development of Gambling.
Retrieved from www.vlada.si/fileadmin/dokumenti/si/sklepi/seje_vlade/.../112sv21a_
gradivo.doc
Government of the Republic of Slovenia. (2010b). Strategy for the Development of Gambling in
Slovenia. Retrieved from http://www.fu.gov.si/drugo/posebna_podrocja/igre_na_sreco/
Gu, Z. (2001). Performance Gaps Between U.S. and European Casinos: A Comparative Study.
UNLV Gaming Research & Review Journal, 6(2), 53-62.
Gu, Z., & Gao, J. Z. (2006). Financial competitiveness of Macau in comparison with other gaming
destinations. UNLV Gaming Research & Review Journal, 10(2), 1.
​GVIN. (2018). Financial data. Retrieved from https://www.bisnode.si/produkti/bisnode-gvin/
Lambert, T., Srinivasan, A., Dufrene, U., & Min, H. (2010). Urban Location and the Success of
Casinos in Five States. International Journal of Management and Marketing Research,
3(3), 1-16.
Luin, D. (2004). Socio-economic aspects of gambling and gambling tourism. Portorož: Turistica,
Faculty of Tourism Studies.
Luin, D., & Hojnik, J. (2016). Gambling Regulation in Slovenia: Adapting Socialist Morality to the
European Union Free-Trade Environment. Gaming Law Review and Economics, 17(1), 8-19.
Meich, B. F. (2008). The power to destroy: The psychology of gaming taxation. Gaming Law
Review and Economics, 12(5), 458-465.
Ministry of Finance of the Republic of Slovenia. (2018). Special games of chance. Retrieved
from http://www.mf.gov.si/delovna_podrocja/igre_na_sreco/posebne_igre_na_sreco/
Ministry of Finance, Tax Administration. (2018a). Games of chance. Retrieved from https://www.
porezna-uprava.hr/HR_porezni_sustav/Stranice/naknada_priredjivanje_automati.aspx.
Ministry of Finance, Tax Administration. (2018b). Games in casinos. Retrieved from https://www.
porezna-uprava.hr/HR_porezni_sustav/Stranice/naknada_priredjivanje_igre_casino.aspx
Swiss Institute of Comparative Law. (2006). Study of gambling services in the internal market
of the European Union. Retrieved from https://ec.europa.eu/growth/content/study-gambling-
services-internal-market-european-union-0_sl
ZDIS – Zakon o davku od iger na srečo [Gaming Tax Act]. (2001). Retrieved from http://pisrs.
si/Pis.web/pregledPredpisa?id=ZAKO1275
ZIS – Zakon o igrama na sreću [Gambling Law]. (2014). Retrieved from https://www.zakon.
hr/z/315/Zakon-o-igrama-na-sre%C4%87u
4th_international_thematic_monograph_2019_pp._541-557.pdf
File Size: 470 kb
File Type: pdf
Download File


Picture
Association of Economists and Managers of the Balkans
- UdEkoM Balkan -
179 Ustanicka St, 11000 Belgrade, Republic of Serbia
E-mail: office@udekom.org.rs
www.udekom.org.rs
Tel. +381 62 812 5779
VAT number: 108747027
Registration number.: 28157347
© COPYRIGHT 2014-2023. ALL RIGHTS RESERVED.
  • Početna
  • O nama
    • Ciljevi
    • Organi >
      • Skupština
      • Upravni odbor
      • Savet
    • Aktivnosti
    • Partneri
    • Statut
  • Članstvo
    • Pristupnica
    • Procedura učlanjenja
    • Visina članarine
    • Članovi
  • Konferencije
    • EMAN
    • LIMEN
    • ERAZ
    • ITEMA
  • Seminari
  • Kontakt
  • Balkans JETSS