Case 33 – the Casino Industry in 2011

Gambling is becoming increasingly popular in today’s society. Major casinos and online gambling sites attract

Local legal casino gambling has gained popularity in the United States after a long history of prohibition in many parts of the country. Casino gambling was outlawed in the early 1900’s before being legalized in Nevada and the city of Las Vegas in 1931. In 1978, gambling was legalized in Atlantic City, New Jersey (casino-history.org). Las Vegas continues to dominate as the number one casino destination. Atlantic City and New Jersey have taken a hit as completion in surrounding states increases every year. Pennsylvania surpassed New Jersey as the number two casino destination in the United States in 2015 (Tisdall 2). Today, 43 states have casinos (americancasinosguide.com). Since the birth of the Internet, gambling online has grown into a new industry. Online gambling is continuing to grow to this day and is an industry already worth billions. Many of the issues in today’s society and legislatures have moved away from the issue of if casinos should be legal towards the issue of should sports gambling be legal on websites such as draftkings.com and fanduel.com.

Casinos have been part of diverse cultures for many years, the positive impact that it has on communities surpasses the detrimental impact on the residents of those communities. Many cities have begun to appear due to the casino industry. People today still talk badly about casinos and see them as something harmful to a community. People who go to casinos are there for the excitement and chance to try and win big. In some cases, the outcome is not what they expected and that’s where people believe that casinos take advantage of the people who can’t walk away. Experts and researchers say that casinos bring revenue and positive impacts to the communities where they are located.

The efforts to make Hispanics feel more welcome are designed to show that the casinos are sensitive to this demographic group's real needs and wants. New amenities include bilingual dealers and Spanish-speaking musicians. This shows the clear principle of segmentation. Instead of trying to appeal to all customers in a universal fashion and compete with the biggest-name casinos (a virtual impossibility in Las Vegas), these smaller casinos are trying to attract and grow this specific, targeted population base. The Hispanic demographic seems to have an interest in gambling and entertainment, and has

Well, Las Vegas has a great reputation, as far as being a tourist center, but Las Vegas has morphed into something different. It used to be when I came to Las Vegas, it was a gambling destination and a place for 99 cent breakfast buffets and $2.99 dinner buffets. That’s changed, it is now a destination for shopping, entertainment, shows, nightlife. Adding a world class sports venue to that would be another

Las Vegas casinos are vast luxurious multi-billion dollar architectural structures with inviting gambling tables covered with tight bright felts and shiny new cards ready to hit 21 in one single hand, the unforgettable “ding” “ding” “ding” of the slot machine feels like adrenaline at the possibly of becoming a millionaire. Outside of the casino the city that never sleeps is full of life and neon lights that sparkle from all around. The Strip is a glorious chaos with hundreds of people walking in all directions. Explosions of the beautiful synchronized dancing water fountains at the Bellagio and the amazing fireballs of the erupting volcano at the Mirage intensify Las Vegas experience. However for residents, Las Vegas is far from a multi billion-dollar experience. The recession domino effect blasted the house market and left millions unemployed.

Where a casino is located is critical to how it affects the economy. A typical local casino does not bring money to the area like Las Vegas or Atlantic City does. This is because most gamblers in these two areas are tourist. Tourists bring money to an economy. In many local casinos the gamblers live in the same city as the casino. When this is the case, gamblers are not bringing money to the economy; they are transferring money that was already in the local economy. In an article written in 2002, the Detroit Free Press stated casinos were responsible for draining

Also, the development of casinos are drawing people back, people that are talented in business management, economics, and other business skills. With these casinos, these type of people are highly sought after, and are able to return because of the financial gain these individuals can gain for themselves and their families.

With the aforementioned nearly 40 million tourists last year bringing with them their 9.5 Billion in gambling revenue, along with other spending capital it is only logical to use this location as a prime target location for our boardwalk concept. The tourism industry has recovered pleasantly from the most recent recession and Las Vegas has shot back into action with three additional planned themed resort casinos being built on or near the Las Vegas Strip within the next 5 years. The competition is booming and with it comes a necessity for action. The future expansion planning within the Las Vegas Area calls for additional development of highway roads, as well as further expansion of the current monorail system within the strip-downtown gambling corridor leaving more expansion available to the surrounding areas. Our Lakeside resort is

The main topics or laws that I have learned are Business Structure, Government Regulation, and Legal Environment Business. I work for a Casino, so I know we used these three topics. Business Structure is a organization framework legally recognized in a particular jurisdiction for conducting commercial activities, such as sole-proprietorship, partnership, and corporation. Most types of government regulation involve the setting up and enforcement of standards for conducting legitimate activities. My concern here is with government regulation of business or economic affairs by municipal, county, state, and Federal politicians and bureaucrats.

Casino gambling remains a controversial issue, mostly due to personal and religious views on the negative effects (gambling addictions) it has on society. However, there seems to be very little controversy relating to the role the casino industry has in the state’s economic and tourism development. The purpose of the paper is to provide a synopsis of the role Mississippi’s casino industry has played in the state’s economic and tourism industry. The report focuses on three jurisdictions: Tunica, Greenville, and the Gulf Coast. The report supports my theory that the Mississippi casino industry unequivocally has a positive impact on the state’s economy and tourism industry.

Much of the economic research investigating the ancillary economic benefits of casinos has focused on

When walking into “The Strip” in Las Vegas, an instant feel of excitement rushes up. The flashy neon lights paired with glimpses of amazing acrobatics on gigantic screens easily brings up the energy of tourists, businessmen, and gambling addicts. You may wonder how a once stranded desert can transform into such a paradise of skyscrapers. The answer lies in casinos.

Nevada casinos are the second leaders in revenue. The strengths that they have generated are the availablity of more hotel rooms, fine dinning, excellent entertainment, shopping, mergers and acquisitions, customer loyalty, and product differentiation among its rivals. With its many strengths, Nevada casinos represent a high barrier for new entrants as well mainly due to product differentiation and economies of scale. Nevada casios use differentiation on the basis of special themes that characterizes their casinos, such as a medieval castle, a pirate ship, or a movie studio. Nevado casinos also rely on economies of scale as many of the larger casinos are expanding by buiding on additional rooms to bring in more customers. Eventhough Nevada casino has many strengths, it also has a weaknesses.

“The geographic location of a casino is a huge consideration” (Lewis pg. 1). Demographics, travel patterns and nearby competition play a significant part in casino design. “ Most people in North America live within a day’s drive of one or more gaming areas” (Lewis pg. 1), so in order to attract people to the casino there must be something other than the gaming floor to draw them in. Many amenity and non-gaming attractions must be considered in order to really stand out. The casino must design strong support facilities, a hotel that can accommodate as many players as it can afford, a parking system for the traveling patrons, non-gambling facilities for families and it must be an inviting space.