In our society today the Casino Industry is a gambling medium of entertainment for adults. Casinos have become a major aspect of different cities economies and hundreds of thousands of people’s lives. Casinos are exciting and a great experience for many people who feel they have a chance to win it big. Atlantic City and Las Vegas are two of the popular venues for gambling in the United States of America. The way in which this industry was externally set up is so strategically plan out that it allowed the industry to become very successful. The demographic characteristics make up of the Casino industry is a valuable to the industry to know the people who they demographically trending towards and also the public and local government when they decide if they should allow or not allow casino gambling in their area.
Prior to the late 1980’s, casino gambling was legal on in state of Nevada and Atlantic City, New Jersey (Garnnet 9). Today, casino gambling is accessible in twenty-nine states. As an outcome to this annual gambling revenue has tremendously grown from nine billion in 1991 to...
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As part of their goal to be the first choice for casino entertainment, Harrah’s continues to spur its growth through the development of new properties, expansion and acquisitions, not only in the United States but also in other parts of the world. Currently, it manages the largest number of casino entertainment facilities in the US, which are not only limited to land-based casinos, but also include riverboat casinos, dockside casinos and gambling facilities on Indian reservations. They also own similar gambling facilities such as slots, thoroughbread racetracks and greyhound racing. All of these establishments are operated under either one of their popular brands: Harrah’s, Caesars and Horseshoe .
For years casino gambling was portrayed in the media and Hollywood as being associated with criminal activities and the mafia. Now with proper scrutiny and government regulations casino gambling has become a lucrative business, with casinos stock even trading on Wall Street. Casino gambling is an ever increasingly popular and legal activity in many states throughout the United States. “The term gambling or ‘gaming’ as the industry calls it, means any legalized form of wagering or betting conducted in a casino, on a riverboat, on an Indian reservation, or at any other location under the jurisdiction of the United States” (National Gambling Impact Study Commission Act). States that allow casino gambling benefit vastly by re-incorporating the taxation off of commerce gained from casinos and tourism associated with the casinos back into the state and local communities. Jobs created by casinos also have a positive impact on the economy in local communities surrounding casinos as well as, the states that legalize gambling. Texas, while allowing horse and dog racing, lottery, and charitable bingo, does not currently prohibit casino gambling. In this essay, I will provide the different reasons the State of Texas will benefit from legalizing casinos gambling. By not having casinos, Texas continues to lose valuable tax revenue that could be awarded to state and local government funded programs for example, education, public safety, economic development, and infrastructure improvements. With the increasing number of legal casinos in bordering states such as Louisiana, New Mexico, and Oklahoma, the loss of tourism and tax revenue is a growing concern for Texas. Passing legislation to allow casinos in the State of Texas will help fund ...
There are many reasons why people gamble and what the advantages and disadvantages are of risking your bank account on the roll of the dice or the luck of the draw. I originally set out to try and explain why people gamble, but I realized that gambling is just as much of a business or industry as anything else. I researched Foxwoods casino, in CT, and the business behind that. From there I will attempt to explain the “cause and effect” of gambling. Gambling has made much more sense to me now, and I hope it will do the same for you.
Compared with other faux pas such as cigarette smoking and alcohol consumption, gambling is a relatively new and legal outlet for people to abuse leading to self-harm, maladaptive family structures and an eventual strain on society. While gaming has been around since the beginning of time, the last thirty years has brought about new and more aggressive marketing and with it has come new set of problems. The new world of gambling is orientated around continuous and rapid mass consumption (slot machines) focused primarily upon individuals betting in increasingly socially dislocated environments (Adams). Communities with gaming centers, race-tracks, and casino’s are often located in the poorest parts of cities and suburbs. In the United States, racial and ethnic minorities are among the groups most at risk for gambling problems (Wiggins). A random-digit-dial telephone survey revealed that 8% of Hispanics were pathological gamblers, which is four times higher than the 1.8% rate for Whites (Wiggins). From a social exchange point of view we have to ask ourselves if the risk of increased social disruption outweighs the rewards of local economy stimulation. Is it acceptable to harm the social fabric by increasing crime, bankruptcies, and social pathologies? (Chhabra)
Gambling... Who does not like to gamble? People play lotteries, bet on sport games or try their luck on slot machines with a thought to win some amount of money. In fact, this excitement for gambling can be seen even from early ages; for example, ancient Egyptians used to play dice in 2000 BC or the first casinos opened their doors to customers during the Greeco-Roman period ( Whittaker and Cushman 1 ). Nowadays casino industry is a large business in the United States that brings high revenues and offers various entertainment that attracts people from different areas. So just recently residents and visitors of Worcester, Wicomico and surrounding counties got a great opportunity to try themselves in a new Ocean Downs casino that came into operation couple months ago. Ocean Downs casino is an excellent benefit to the community that helps to improve the economic and social status of the county and also serves as a great entertainment for the adult population.
The Great Transformation From A Casino City To a Resort Destination Atlantic City is the place to gamble on the East Coast. Although this may initially seem to be a positive characteristic, it is evident that this destination has the capability to be so much more than it already is. This point of interest has the world’s first boardwalk, which opened in 1881, has 4 miles of hotels, amusements, and casinos. Atlantic City was originally a resort town, until 1978, when it changed into a gaming city. This popular day-trip destination had over 34 million visitors in 1998 alone. Despite this amazing statistic, along with the revenue that gambling brings in, many steps are being taken in order to further promote the expansion of this great city. The renovations and improvements being made to the Atlantic City Convention Center are already increasing the amount of money coming in. There is a great deal of other things to focus on in the Atlantic City region. In endorsing local attractions in this scenic area, and in shifting the target market of this spot, this city would change back into a resort destination. When most people think of Atlantic City, the first thing that comes to mind is the casino attractions that are available. With the city’s constant shuffle and excitement, gamblers from all over go there dreaming of a big win. Many people consider Atlantic City to be the “Las Vegas of the East Coast”. There are over 12 casinos, with one building as magnificent as the next. At any given second of the day, these hopefuls may have their lives changed in an instant with just one win. These casino hotels gain most of their income from gamblers. Casinos employ almost 49,000 people every year. This number should actually jump when the Marina District opens. Although Atlantic City prospers as a gambler’s paradise, many would love to show others just how much more Atlantic City really has to offer its tourists. The Atlantic City Convention Center, built in 1929, was renovated with $72 million in 1997. With the world’s largest pipe organ, everyone from the Beatles to Pavarotti has played there. It was designated a historic landmark in 1987. Conventions, trade shows, meetings, and public events of the greater Atlantic City area all take place here. When the renovation is finally completed, it will seat up to 12,000 people for special events.
From the time the Europeans first landed on the Atlantic shore, lotteries have been a part of the American society. According to Will Spink, most states are currently operating a state lottery despite its bleak history in the U.S. (Spink 1). Since 1983, North Carolina has introduced lottery bills in the legislature every year (NC Christian 15). North Carolina Governor, Mike Easley, favors a lottery for increasing revenues for education (Analysis 2). However lucrative state lotteries appear on the surface, they create even more moral and financial difficulties for citizens, and this should encourage states to look at other means of resources instead of legalized gambling.
Casinos have developed formulas to calculate the “predicted lifetime value” of any individual gambler. Gamblers are assigned value rankings based on this amount; the biggest losers are referred to as “whales.” These gamblers become the casinos’ most sought-after repeat customers, the ones to whom they market most aggressively with customized perks and VIP treatment. (Rosengren,
Gambling has been around since 2300 B.C. It has its positive and negative effects; it also has somewhat of a positive impact on the economy. It stimulates most communities by creating jobs and generates tax revenue for state and local governments. The gambling industry in “2002 and the commercial casino industry provided 350,000 jobs in the United States” (americangaming.org). Even though gambling can bring a lot of economic growth to the economy there is still an argument going on today whether it is a great choice to legalize it everywhere.
The Gambling industry attempts to win support with misleading information in its promotions. For example, gambling is said to help stimulate the economy by providing more jobs. According to the American Gaming Association study, "In 1995, the casino industry recorded $25 billion . . . and paid only $7 billion in wages" (Arthur Anderson). Also according to Maura J. Casey, there is high unemployment rates around casinos. (Casey 37) With people's losses and by encouraging workers to believe in cheating customers, casinos focus on gaining more and more money for their n...
Gambling is described as the betting of money or property on the result of an event or game that is mainly random with the desire to win more money or gain additional property. The industry or sector created by the activity of legal gambling is referred to as gaming. Since inception, gambling and gaming has continued to develop to an extent that it worth more than $335 billion across the globe. Most of the revenues obtained in this industry are generated by casinos and lotteries. In the past few years, gambling and gaming have attracted significant concern and controversy, especially with regards to the morality of the practice and whether its financial benefits outweigh the damage. While proponents of gambling
There is a major issue to be dealt with, which is spreading with little regulatory oversight and no effective screens against participation by the young and the vulnerable. Internet gambling represents one of the fastest growing segments of online activity with more than seven hundred web sites now providing users the opportunity to wager everything from casino games to sporting events. According to internet research firms, the industry will pull in $1.5 billion in world-wide revenues this year. That figure is expected to hit at least $6 billion by 2006. Also, a survey conducted by the Pew Internet and American Life Project concluded that $4.5 million Americans have gambled online and that 1 million gamble online everyday.