An Investigation of Systematic Risk Determinants in the Casino Industry
This study examined financial measures that constitute determinants of systematic risk in the casino industry. Multiple regression analysis, one-way ANOVA, and independent sample t-tests were conducted to analyze the measures. Leverage and liquidity were positively related to systematic risk yet growth rate was negatively related. Furthermore, it was confirmed that different sectors of the casino industry had different level of risk. Findings suggest that casino managers in different sectors of the casino industry should use different financial strategies to reduce risk. Casino investors should also understand the unique financial characteristics of different sectors of the casino industry. Finally, casino managers should focus on developing well-planned customer activities, such as gaming tournaments or special events, to protect casinos from experiencing high-risk seasons.
Keywords: BETA; CASINO; HOSPITALITY INDUSTRY; RISK ANALYSIS; SYSTEMATIC RISK
Document Type: Research Article
Publication date: 01 December 2010
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