Briefly describe the history of legalized gaming in the United States?
The gaming entertainment started in Las Vegas. From 1940 to 1976 Las Vegas had a monopoly on the casino business. Atlantic City in 1976 was next when NJ voters approved casino gambling. Casino Control Act was developed to create jobs , attract tourist, pay taxes and invest capitol so urban redevelopment would occur. Not soon after other states followed New Jersey other states approved gambling.
What defines a gaming entertainment business?
Gaming entertainment business is identified by all aspects ,including hotel operations, entertainment offerings, retail shopping, recreation activities, food and beverage, and other operations in addition to wagering on the gaming floor.
Explain the attraction of gaming entertainment to the destination of a tourist?
Its a place where a tourist can base a vacation , where entertainment, recreational activities, shopping ,sightseeing,lodging ,food and drink can be at full service .
Why is it necessary for strict regulations to be in force on the casino floor?
Legal ,regulatory and compliance issues must be enforced. Broken laws can result in lawsuits and cost companies large sums of money.
How are hotel operations in the gaming entertainment business different from a non gaming environment?
Because gaming entertainment properties have hotels that are much larger than non-gaming hotels ,department heads have a large number of supervisors reporting to them more responsibilities. Reservations,front desk, housekeeping ,valet parking, and guest services can be very large departments with many employees.
What are examples of non-gaming revenue.
Entertainment Operations with some shows in the $30 to $90 million range. Food and Beverage Operations , Retail Operations, Hotel Operations
In addition to gaming, what activities are included in the gaming entertainment industry?
Production shows,theme parks,thrill rides,museums ,cultural centers , recreational activities
Dollars waged or bet
To bet money on the outcome of a game of chance
Dollars won by the gaming operation from its customers.