The effects of gaming on residential real estate prices and sales: A case study of Las Vegas: 1990--2008

This dissertation empirically investigates the effects of the gaming industry on a local economy, specifically housing prices and sales in the city and surrounding areas of Las Vegas. This study explores many of the economic effects that Las Vegas' relatively unrestricted gaming industry has on surrounding home prices and sales and analyzes the specific forces and the issues they involve. As of this writing, little to no research has used seminal economic theories to analyze the effects of the performance of a locale's gaming industry on the surrounding residential real estate market. This study addresses this gap by examining the relationship of gaming performance to employment, employment to income, and income to housing. The analysis provides evidence of a significant positive correlation between gaming revenues and casino employment, and between casino employment and residential sales and pricing. The study brings new perspective to the relationship between gaming and the local economy, providing a possible glimpse into the future for other maturing gaming markets.