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Chapter 11: Gaming Entertainment. Chapter 11 Gaming Entertainment. Gaming Entertainment Historical Review Native American Gaming Size and Scope of Gaming Key Players Positions in Gaming Trends. Gaming Entertainment. The casino industry is one subset of the gaming industry

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Chapter 11: Gaming Entertainment


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    Presentation Transcript
    1. Chapter 11: Gaming Entertainment

    2. Chapter 11 Gaming Entertainment • Gaming Entertainment • Historical Review • Native American Gaming • Size and Scope of Gaming • Key Players • Positions in Gaming • Trends

    3. Gaming Entertainment • The casino industry is one subset of the gaming industry • There are 445 casinos in 11 states including: • Land-based and riverboat casinos • Card rooms • Charitable games • Lottery operated games • Greyhound and horse races

    4. Definitions • Handle: Total amount of all bets • Win: The net amount of spending by the customer • Cruise to nowhere: Gaming and entertainment on board the ship are the main attraction

    5. 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

    6. Who is the Guest? • 54.1 million U.S. households gamble in casinos (more than one-quarter) • U.S. households make 371 million visits annually to casinos • Casino players tend to: • Have higher levels of income and education • Are more likely to hold white-collar jobs

    7. Historical Review of Gaming • Today, the precise origin of gambling is still unknown • There are Chinese records that date the first official account of the practice as far back as the third millennium B.C. • A public gambling house was legalized for the first time in 1626 in Venice, Italy • Romans were also gamblers • They placed bets on chariot races, cockfights, and dice throwing

    8. Historical Review of Gaming • The gaming entertainment business has its roots in Las Vegas • From 1940-1976, Las Vegas was a monopoly for gaming • Las Vegas is rich with tales of Bugsy Siegel • During the 1970s, Atlantic City was in an impoverished state experiencing high amounts of crime and poverty; in an effort to revitalize the city, New Jersey voters in 1976 approved casino gambling for Atlantic City • The gaming industry has exploded from just two jurisdictions in 1976 to some form of legal gambling in 48 states • Only two states, Hawaii and Utah, do not permit some form of gambling

    9. Native American Gaming • In California v. Cabazon Band of Mission Indians, et al. (1987), the Supreme Court decided that once a state legalized any form of gambling, the Native Americans in that state have the right to offer and self-regulate the same games, without government restrictions • Indian Gaming Regulatory Act (IGRA): • Provides framework for games • Defines different “classes” of gaming • Today there are 354 gaming facilities on reservation lands in 28 states, and Native American gaming has been the fastest-growing sector of casino gaming in the United States

    10. Size and Scope of Gaming • As public acceptance of legalized gaming has grown, state and local governments have permitted gaming entertainment establishments to open • The gaming entertainment industry pays billions of dollars per year in gambling privilege taxes to state governments • Casino gaming companies pay an average of 12% of total revenues in taxes

    11. Key Players • MGM Mirage Resorts: • Now controls half of the Las Vegas strip • Properties include: • The Bellagio • MGM Grand Las Vegas • The Mirage • Treasure Island • New York–New York • Boardwalk Hotel & Casino • Plus several others

    12. Key Players • Harrah’s Entertainment: • Paired up with Caesers Entertainment • Now the world’s biggest casino operator • Operates 40 casinos in 3 countries • A $1.5 billion company, publicly traded on the New York Stock Exchange • Boyd Gaming: • 18 gaming and hotel facilities in 6 states

    13. Positions in Gaming Entertainment • Hotel operations: • Much like the career opportunities in the full-service hotel industry, with the exception that food and beverage can be a division of its own and not part of hotel operations • Food and beverage operations: • High-quality food and beverage service in a wide variety of styles and concepts • Some of the best foodservice operations in the hospitality industry are found in gaming entertainment operations • Many career opportunities in restaurant management and the culinary arts

    14. Positions in Gaming Entertainment • Casino operations: • Gaming operations • Casino service • Marketing • Human resources • Finance and administration

    15. Positions in Gaming Entertainment • Retail operations: • Increased emphasis on nongaming sources of revenues • Gaming entertainment business demands an expertise in all phases of retail operations • From store design and layout to product selection, merchandising, and sales control

    16. Positions in Gaming Entertainment • Entertainment operations: • Because of the increased competition, gaming entertainment companies are creating bigger and better production shows to turn their properties into destination attractions • Production shows have climbed into the $30-90 million range, with special entertainment venues built for superstars

    17. Trends • Gaming entertainment is depending less on casino revenue and more on room, food and beverage, retail, and entertainment revenue • The gaming entertainment industry and lodging industry are converging as hotel room inventory is rapidly expanding • Gaming entertainment will continue to be scrutinized by government and public policy makers • As the gaming entertainment industry becomes more competitive, exceptional service quality will become increasingly important • The gaming entertainment industry will continue to provide management opportunities for careers in the hospitality business

    18. The End