Casino Industry Case Analysis Essay

Towering Hundreds of feet in the air you might have noticed a casino near your town or city. These large complexes are basically a money making machine. Usually Owned by the Native American Culture. These are the main source of income on the reservation for these tribes (Native American Casinos). Although used by Native Tribes in America the First Casino originated in Italy in 1638. The Casinos are a place where many average Americans spin the wheel of luck trying to win a profit on their money. Now the chances of winning big vary as there are many different tiers of gambling. You can have very little money and play on the slots or you can be a high-roller and spend hundreds or thousands on games of black-jack or poker.

The casinos at these resorts are crowded daily with adults who share the love and excitement of gambling responsibly. Guest at the hotels and resorts can also enjoy other options for entertainment like spas, shows, concerts, and dining. Guest can also enjoy playing a variety of free casino themed social games which is used for advertising the products and services at the casinos. Today the company is focused on building valuable relationships with their loyal customers to regain market share and boost competitiveness and profitability.

The Seminole Tribe has had a semi-monopoly over the gambling and casinos in Florida. The Florida State Legislature is considering the options on expanding gambling in Florida. Many Florida residents believe that the expansion of gambling would bring crime and other social issues such as white collar crimes, fraud, credit card, and employee theft. Two of the major opponents of expanding gambling are Walt Disney Co. and Universal Studios. Other Florida residents feel that it is time the expand the gambling industry. Expanding the gambling would help grow the economy by creating jobs and by increasing tax revenue. Even though gambling could bring crime and other social problems, it should be expanded because Florida would benefit from the additional

The major difference between Indian gaming and State owned casinos is the location, which are always on Native American land, the Revenue. The selection of games, and the pay back

The gaming industry is growing rapidly globally, and casinos provide a large amount of revenue in Nevada. There are special regulatory agencies in Nevada who govern the gaming industry. Since this industry relies so much on cash, there are some different controls and procedures in place in auditing gaming in this state. To help professionals in the industry, several conferences are available for professionals to attend. In order to properly audit a gaming facility, auditors need to understand the risks and controls associated with the industry.

The gambling industry has a very important impact on the United States economy. As of 2013, it held the direct employment of 570,000 people, with total jobs impact of 1.7 million, which included nearly 200,000 government jobs (Wells 2014). In 2013, revenues from the casino industries totaled to 81 billion dollars, including 30 billion dollars form Native American casinos. The total impact of the casinos in the year 2013 was 240 billion dollars, with 102 billion as a direct economic impact, but this does not include the cost of constructing new casinos (Wells 2014). Casinos may in fact provide a large amount of jobs for people, but their impact on neighboring property values is “unambiguously negative,” according to the economists at the National Association of Realtors (Frum 2014). Casinos do not always have a positive impact on the cities they are located in, they do

The gaming industry in Macau is very competitive as it is the only jurisdiction within China where casinos are legal. Before 2003, there was a restriction on the entry of citizens into Macau when it was operated by Stanley Ho’s S.T.D.M as a monopoly. By 2012, visitors had increased 18.6% from the previous year and the industry now runs as an oligopoly. Within this industry are many competitors at a total of 6 within a 29.7 square kilometer area. They are Sociedade de Jogos de Macua, Galaxy Casino, Wynn Resorts, Ventian Macau, MGM Grand Paradise and Melco PBL Jogos which give a total of 34 casinos in Macau (Peng, M., pg 412).

Early reports for the Japanese casino industry estimate that there could be a $40 billion cash pie ready for the companies. Despite the illegality of gambling, Japanese players who huge gamblers, and neither MGM Resorts, or Las Vegas Sands would want to miss out on a slice of that lucrative industry, which could (in theory) eventually overtake Macau as the gambling capital of the

Still shot of a portly man in his late 40’s smoking a cigar and wearing a white button shirt with a bright red tie. Close up of a nameplate on the right side of his desk with the name Bernie Cortez, Head of Operations engraved into it. He is seen sitting and looking through some financial papers while talking on the phone.

Native American tribes are allowed to have casinos on their land thanks to the Supreme Courts decision in the Cabazon vs. California case in 1987. This case came about when California officials threatened to shut down a bingo parlor owned by the Native American tribe Cabazon on their reservation. The supreme court said because California, and many other states at the time, did

Based on the case study, “Casinos and Crime”, it is obvious that there is a direct link between the two (Brusseau, 2012). Indeed, the statistic provided are compelling in and of themselves. Nevertheless, does this correlation delve into the realm of ethics, or is it an unfortunate byproduct of an industry that actively contributes in other fashions to the hospitality industry in the state where they exist?

Of the articles read on various industry topics, the one that was most interesting and inspiring to me was the article titled “History of Gambling”. According to the article, “Gambling is one of the oldest known pursuits of mankind; archeological evidence suggests that even the earliest caveman was a gambler.” After reading this article and reading chapter 13 in the book, I came to understand that gambling is not only a pastime but it is an industry that has many sectors. According to the book, “Twenty of the thirsty largest hotels in the world are casino resorts on the Las Vegas Strip.” For my 21st birthday, I had the privilege of going to Las Vegas and experiencing the sights and entertainment available at many of these hotels. This article

Medina (2011) highlights the case of a small-town Nevada casino that has successfully courted the Hispanic market, which tended to be ignored not only by Las Vegas but also by other similar casinos in the area. The article discusses some of the different tactics that the casino has used to build the market, and these tactics have tended to go well beyond employing Spanish-speaking dealers and using Spanish on signs.

In any area around the United States, a casinos can produce tons of jobs for the unemployed. In the United States, casinos has created over 350,000 jobs for the unemployed, and with over 1,500 casinos around America, this gives people opportunity for employment. With this in mind, the casinos can also bring in more people while increasing the population in the area and therefore improving the economy (Chad). The government has notice the increasing rate of casinos spreading nationwide, but had shelved this issue because it hasn’t been a big threat to the economy. Though the group opposes gambling, it has realigned its priorities because of budget consideration. With the gambling industry around America, it would play a highly public role in the U.S. election (Berzon and Keeffe).

The United States casino market is constantly growing. With over 1,511 casinos in the United States the total revenue brought in was over 73 billion dollars. The top 3 areas with the most gaming revenue were the Las Vegas Strip (6.207Bil), Atlantic City (3.052Bil), and Chicagoland (2.243Bil). The market grew up by 15 billion dollars between the years of 2012-2015 (statistica.com). In the future the market alone is expected to grow at a CAGR (Compound Annual Growth Rate) of 5% from the years 2016-2020 in the United States (businesswire.com). Over 350,000 jobs are offered by Casinos in the United States. Regardless of the amount of jobs offered, the industry has both pros and cons to the way it operates. The money to build casino often comes