Abstract
The U.S. casino industry has been considered by some to be “recession proof.” Although consumer spending has not seemed to decline dramatically during past recessions, still, the casino industry is sensitive to macroeconomic changes. In this article we examine a variety of U.S. macroeconomic indicators to determine which are most closely related to U.S. casino revenues. We find that the best predictors of U.S. casino revenues are projected gross domestic product (GDP) and personal consumption expenditures (PCE). We use our model to forecast casino revenue growth rates for 2023 through 2027.
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