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C H A P T E R. C H A P T E R. The Gaming Entertainment Industry. 11. Gaming Entertainment Defined. Gaming Entertainment… Commercial and Native American casinos Card rooms Charitable games Lottery operated games Wagering on greyhound and horse races. Definitions. Handle…

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The Gaming Entertainment Industry

11


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Gaming Entertainment Defined

  • Gaming Entertainment…

    • Commercial and Native American casinos

    • Card rooms

    • Charitable games

    • Lottery operated games

    • Wagering on greyhound and horse races


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Definitions

  • Handle…

    • What the consumer bets (wagers)

    • $500 billion dollars

  • Win…

    • Gross gambling revenue

    • $48 billion dollars

  • Casinos count for half of the U.S. gaming dollars


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Gaming Versus Gambling

  • Gaming entertainment…

    • Casino floor (gambling)

    • High-quality food and beverage

    • Hotel rooms

    • Live performances

    • Theme park, theme rides, and museums

    • Land, based, and riverboats

  • Gambling…

    • Playing a game of risk for chance of making money


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Who Is the Guest?

  • Guests…

    • Increasing acceptance by all consumers

    • 32% of U.S. households gamble in casinos

    • Younger players

    • White-collar jobs

    • Wants total entertainment experience


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History of Gaming

  • History…

    • Gambling legalized in 1931 in Las Vegas

    • From 1940-1978 Las Vegas was a monopoly for gaming

      • No hotel rooms

      • No entertainment

    • Gaming Control Board and Nevada Gaming Commission


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The Move to New Jersey

  • New Jersey…

    • Gambling legalized in 1976

    • Looked at gaming to invest capital, create jobs, pay taxes, and attract tourists

    • Casino Control Act funded Casino Control Commission


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Native American Gaming

  • Native American…

    • In 1987 the Supreme Court determined if state has gaming, so may Native Americans

    • 11% of all winnings are from Native American casinos

    • Indian Gaming Regulatory Act (IGRA)

      • Provides framework for games

      • Defines different “classes” of gaming


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National Gambling Impact Study Commission

  • Commission…

    • Signed into law in 1996 to study social and economic impacts of gambling in the United States

    • Two-year study


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Focus of Commission

  • Commission (cont.)…

    • Review existing policies

    • Relationship

      • Gambling and crime

    • Assess problem gambling

    • Review impact on society


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Focus of Commission

  • Commission (cont.)…

    • Determine how gambling affects revenue to government

    • Study interstate and international effects of gambling by electronic means


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Size and Scope

  • Growth…

    • Publicly traded companies is 45

    • Public acceptance

    • People like to wager

    • More demand than supply

  • Aided economic growth in states…

    • Taxes

    • Capital investment


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Controversy

  • Controversy…

    • Dislike of gaming

      • Moral beliefs

    • Social costs

      • Organized crime

      • Street crime

    • Gambling addictions


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Key Players Mirage Resorts

  • Mirage Resorts…

    • Treasure Island

    • Golden Nugget

    • Monte Carlo

    • Bellagio

    • Soon to be in Atlantic City


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Key Players Harrah’s Entertainment

  • Harrah’s Entertainment…

    • Reno, Lake Tahoe, Las Vegas, and Laughlin NV

    • Atlantic City, NJ

    • Riverboat and dockside casinos

    • Native American Casinos


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Key PlayersHilton Hotels Corporation

  • Hilton Hotels Corporation…

    • Purchased Bally Entertainment

    • Las Vegas, Reno, and Laughlin

    • Atlantic City

    • New Orleans riverboat

    • Canadian casino


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Star Trek at Hilton Las Vegas

  • Star Trek…

    • $70 million venture

    • Targets

      • Baby boomers

      • Generation X

    • Simulation ride

    • Television screens


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Key Players

  • Players…

    • Caesars World hotel/casinos

    • Las Vegas, Lake Tahoe

    • Atlantic City


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Key PlayersCircus Circus

  • Circus Circus Hotel…

    • Owns hotels and casinos in three states


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Luxor Owned by Circus Circus

  • Luxor…

    • Based on Egyptian pyramid

    • World’s largest atrium

    • 4500 hotel rooms

    • Thrill seeking rides

    • Museum


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Excalibur Owned byCircus Circus

  • Excalibur…

    • Based on medieval period of time

    • 4000 hotel rooms

    • Evening jousting matches


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Key PlayersMGM Grand

  • MGM Grand…

    • 113 acres

    • 5000 hotel rooms

    • “City of Entertainment”

    • Six-story lion entry


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New Players

  • New Players…

    • Boyd Gaming

      • 10 gaming and hotel facilities in 4 states

    • Grand Casinos

      • Develops, constructs, and manages land-based and dockside casinos

    • New York New York Casino

    • Sands Venetian Resort


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Careers in Gaming Entertainment

  • Careers…

    • Hotel operations

    • Food and beverage operations

    • Casino operations

    • Retail operations

    • Entertainment operations


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Trends in Gaming Entertainment

  • Trends…

    • Merging frenzy

    • Look at entertainment for profit & growth

    • Hotel room inventory in gaming properties is expanding

    • Continued scrutiny by government

    • Exceptional service quality is key to success

    • Great management opportunities for students


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