No smoking at the slot machines: the effect of a smoke-free law on Delaware gaming revenues
As communities around the nation consider laws restricting smoking in public places, a key political and economic issue that often arises is the effect that such laws have on the sales and profits of particular sectors. The gaming industry has been active in opposition to such ordinances, citing large prospective losses. This article analyzes the revenues of three gaming facilities in Delaware following the implementation of a smoke-free law in December 2002. Revenues are found to have declined significantly at each of the three facilities, with relative magnitudes of losses corresponding to ...
Agriculture: tobacco economies: going up in smoke?
How will New Hampshire solve its school funding problem? part 1 of 3
In December 1997, the New Hampshire Supreme Court decided that the local property tax used to fund the states K-12 public education was set at $6.60 per $1,000 of a propertys value. On the surface, this measure would appear to meet the stipulation of equal and proportionate, since a uniform tax rate is applied equally to all property owners across the state. However, on January 17, 2001, Rockingham Superior Court Judge Richard E. Galway ruled in Sirrell, et al. v. State of New Hampshire, et al. that the new statewide property tax was also unconstitutional. A divided state Supreme Court ...
Securitizing tobacco settlements: the basics, the benefits, the risks
In this time of fiscal hardship for American states, governors and legislators across the country are searching for ways to make up for revenue shortfalls. Partly because of the severity of the revenue crisis, innovative and unconventional means of raising cash have begun to surface. One of these approaches, the topic of this article, is the securitization of tobacco settlement revenues.
Perspective: tobacco manufacturers are now compensating states for smoking-related costs: how will this affect the economy?
Smoking out the social and economic benefits of the 1998 tobacco settlement for Massachusetts.
Casino revenue and the Illinois smoking ban
Smoking was banned in all Illinois casinos in January 2008. We explore the effects that the smoking ban has had on Illinois casino revenue and attendance. Our empirical methodology extends and enhances that of previous literature in that we observe a natural experiment in comparing the performance of Illinois casinos with out-of-state casinos (no smoking ban) that share a market with Illinois casinos. Estimates suggest that revenue and admissions at Illinois casinos declined by more than 20 percent ($400 million) and 12 percent, respectively. Calculations reveal that casino tax revenue to ...
The economics of smoking bans: peering through the haze
Although such prohibitions are becoming more common, generalizations can't be made about their impact because they still are too new and too few. Scrutiny of the ban in Maryville, Mo., shows that the issues remain hazy.
Leaf falls : tobacco crop's first market year
Clearing the haze? new evidence on the economic impact of smoking bans
When smoking bans were debated in the past, the economic costs were seldom considered. But that's changing, as studies reveal the costs being paid by bars, restaurants and casinos, as well as by employees of these establishments.