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The Gaming Entertainment Industry

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

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  1. C H A P T E R C H A P T E R The Gaming Entertainment Industry 11

  2. Gaming Entertainment Defined • Gaming Entertainment… • Commercial and Native American casinos • Card rooms • Charitable games • Lottery operated games • Wagering on greyhound and horse races

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. Focus of Commission • Commission (cont.)… • Review existing policies • Relationship • Gambling and crime • Assess problem gambling • Review impact on society

  11. Focus of Commission • Commission (cont.)… • Determine how gambling affects revenue to government • Study interstate and international effects of gambling by electronic means

  12. 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

  13. Controversy • Controversy… • Dislike of gaming • Moral beliefs • Social costs • Organized crime • Street crime • Gambling addictions

  14. Key Players Mirage Resorts • Mirage Resorts… • Treasure Island • Golden Nugget • Monte Carlo • Bellagio • Soon to be in Atlantic City

  15. 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

  16. Key PlayersHilton Hotels Corporation • Hilton Hotels Corporation… • Purchased Bally Entertainment • Las Vegas, Reno, and Laughlin • Atlantic City • New Orleans riverboat • Canadian casino

  17. Star Trek at Hilton Las Vegas • Star Trek… • $70 million venture • Targets • Baby boomers • Generation X • Simulation ride • Television screens

  18. Key Players • Players… • Caesars World hotel/casinos • Las Vegas, Lake Tahoe • Atlantic City

  19. Key PlayersCircus Circus • Circus Circus Hotel… • Owns hotels and casinos in three states

  20. Luxor Owned by Circus Circus • Luxor… • Based on Egyptian pyramid • World’s largest atrium • 4500 hotel rooms • Thrill seeking rides • Museum

  21. Excalibur Owned byCircus Circus • Excalibur… • Based on medieval period of time • 4000 hotel rooms • Evening jousting matches

  22. Key PlayersMGM Grand • MGM Grand… • 113 acres • 5000 hotel rooms • “City of Entertainment” • Six-story lion entry

  23. 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

  24. Careers in Gaming Entertainment • Careers… • Hotel operations • Food and beverage operations • Casino operations • Retail operations • Entertainment operations

  25. 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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