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In this way, the additional amount wagered may
be more than the
value of the benefit received. Tests for
exogeneity of the social security variables
showed
that they were all independent of past and
current levels of gaming expenditure in the
regions.
Gaming and attitudes
Indicators of consumer sentiment were calculated
for the six principal study regions using
data from KPMG’s household survey. The most
general indicator (which measures people’s
kpmgConsulting Victorian Casino and Gaming
Authority
Report of the 1999 Longitudinal
Community Impact Study: Main Report
September 2000
27
perception about the performance of their
regional economy) was found to explain roughly 7
per cent of the variation in gaming expenditure
between the six regions.
There is little economic theory on the
determinants and drivers of gaming expenditure,
which makes it harder to model econometrically
than other forms of consumption
expenditure. Gaming has also been growing
rapidly since EGMs were legalised in Victoria
in 1992, with no downturn yet in sight. In
future, when the industry has matured and
cyclical spending patterns have become evident,
more information will be available to
explore these relationships.
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