Casino Resorts In The Casino Industry

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Known as one of the most significant developments in the hospitality industry during the past three decades, the casino industry has rapidly expanded and converged into the lodging and hospitality industries (Walker, 2013). According to Walker’s Introduction to Hospitality Management (2013), “casino resorts are among the most visible hospitality businesses in the world”. Twenty out of the thirty largest hotels in the world are casino resorts and they are located on the famous Las Vegas Strip (Walker, 2013). Casino resorts are often quite large and luxurious where gambling is the main activity engaged in by patrons. A report released by the American Gaming Association stated that “based on direct, indirect, and induced impacts, the commercial casino industry supported approximately $125 billion in spending and nearly 820,000 jobs in the U.S economy in 2010” (Bazelon, et al., 2012) On a larger scale, the global casinos and gaming sector grew by 9.2 percent in 2012 to reach a total value of $456 billion (“Global casinos”, 2013).
The modern casino is like an indoor amusement park for adults; the thrill of gambling, entertainment, and staying in a luxurious hotel is an experience desired by many tourists and it brings in billions of dollars in profit every year. A survey conducted in 2009, found that about 65 percent of Americans thought of the casino industry as being a vital and important factor to the overall U.S travel industry (“U.S commercial casino industry”, 2010). As conditions in the marketplace have changed, the gaming and gambling industry has increased its reliance on the lodging industry to bring in more revenue by attracting more gamblers to casinos (Walker, 2013). Even though the gambling and casino operations segmen...

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...y has truly impacted the travel and tourism industry as well. Casino resorts are constantly uprising even after recent recessions because of the popularity of gambling, and the ability to experience many other enticing activities within the vicinity. As the gaming entertainment industry becomes more competitive, demand for higher service quality will increase to give the competitive advantage for success and market leadership (Walker, 2013). With competition increasing, the bigger and better casino resorts offering gaming, lodging, newer entertainment projects, modern and detailed architecture, and improved technology will start to increase in the market. Even with expected increases of these facilities, development companies are expected to practice sustainable initiatives while implementing and constructing these large profit centers of the hospitality industry.

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