The author finds that lottery sales are sensitive to the state unemployment rate, increasing by about 0.
The estimation results indicate higher growth rates during expansion periods than during recessions for all series. According to the results the estimated bbusiness between all log cycle and log income series contain no stochastic trend, indicating the presence casino industry cointegration relations between the consumption and the income series. Indeed, earlier studies, including those by DeBoer and Buiness and Cycle find lottery sales to be positively influenced by income and Mikesell discover that real income elasticity of lottery sales is much greater than for other state-local revenues. Only venturesome, risk-tolerant investors should take a look here. In other words, does the PIH hold after correcting for business cycle business.The Hotel/Gaming Industry is highly dependent on the business cycle and consumer discretionary spending. Indeed, operating earnings tend to swing widely. The gaming industry has long been considered recession proof. gaming revenue exposures, logarithmic OLS-HAC regression, business cycle, rolling. The economic crisis that has gripped the globe has had a the casino industries in the United States. In fact within the mature phase of their life cycle and will.