The Casino Industry
The Casino Industry
Case Study By:
Index:
❖ Executive Summary
❖ Analysis Section (SWOT)
❖ Alternative Identification
❖ Recommendation
❖ Sources
Executive Summary
There is very wide range of legal gaming / gambling across the globe. This includes various games of chance and gambling forms ranging from casino and card room gaming, lotteries, online gaming, race and sports wagering and charitable gaming, such as raffles, bingo and other low technology games. Legalized gambling has become more prevalent over the last 25 years as more jurisdictions take advantage of the revenue sources from the taxation and regulated gambling industries. Over this time many governments have allowed for the expansion of legal gambling, including casinos, or introduced regulatory regimes over existing gambling. The United States has approximately 845 casinos operating in at least 30 jurisdictions. Casino ownership in the United States is a mix of commercial and tribal ownership. In 2003, more than $800 billion was wagered at casinos in the United States. In particular, there has been a rapid growth in riverboat and tribal casino gaming over the last ten years. Collectively, tribal casinos took in $25.7 billion in revenue in 2006, compared with Nevada’s revenues of $12.06 billion for the same year.
Since Bugsy Siegel opened the first modern day casino in 1946, it has been an on-going competition to see who can build the most expensive and extravagant casino resorts in the United States. The money that is being spent on the casino resorts is made possible by the steady growth in gaming revenues. MGM Mirage is currently constructing a $7 billion building, City Center, which is expected to become the “hub of Las Vegas.” It is already becoming known as the most expensive privately financed project in American history. With many of the older casino resorts in Las Vegas being demolished, several more projects are being started to fill
Case Study By:
Index:
❖ Executive Summary
❖ Analysis Section (SWOT)
❖ Alternative Identification
❖ Recommendation
❖ Sources
Executive Summary
There is very wide range of legal gaming / gambling across the globe. This includes various games of chance and gambling forms ranging from casino and card room gaming, lotteries, online gaming, race and sports wagering and charitable gaming, such as raffles, bingo and other low technology games. Legalized gambling has become more prevalent over the last 25 years as more jurisdictions take advantage of the revenue sources from the taxation and regulated gambling industries. Over this time many governments have allowed for the expansion of legal gambling, including casinos, or introduced regulatory regimes over existing gambling. The United States has approximately 845 casinos operating in at least 30 jurisdictions. Casino ownership in the United States is a mix of commercial and tribal ownership. In 2003, more than $800 billion was wagered at casinos in the United States. In particular, there has been a rapid growth in riverboat and tribal casino gaming over the last ten years. Collectively, tribal casinos took in $25.7 billion in revenue in 2006, compared with Nevada’s revenues of $12.06 billion for the same year.
Since Bugsy Siegel opened the first modern day casino in 1946, it has been an on-going competition to see who can build the most expensive and extravagant casino resorts in the United States. The money that is being spent on the casino resorts is made possible by the steady growth in gaming revenues. MGM Mirage is currently constructing a $7 billion building, City Center, which is expected to become the “hub of Las Vegas.” It is already becoming known as the most expensive privately financed project in American history. With many of the older casino resorts in Las Vegas being demolished, several more projects are being started to fill