...Effects of Casinos Review of Literature The Effects of Casinos and the Gaming Industry: Their negative effects outweigh the benefits Fall 2011 With the rapid growth of permitted gambling in the United States, much debate has risen over the positive and negative impacts of the gaming industry and casinos upon our society. Very little research has been done in the past to assess the influences upon our communities and our citizens. However, more and more issues are surfacing that are inducing much concern. The longer these establishments exist in our communities, the more their damaging effects are being felt. Those who are investigating this subject are coming to a unified conclusion: Casinos and gambling have many negative effects, far more than the few benefits that they provide. This country has undergone a gambling boom over the last two decades, and this popular past-time activity is still on the rise with new casinos being built every year. Before 1978, there were no casinos outside of Nevada (Grinols, 2006). Today there is some form of legalized gambling in every state except two: Hawaii and Utah. (Kearney, 2005) Commercial casino revenues increased 266% from $8.7 billion in 1990 to $31.8 billion in 1999. (NGISCR, 1999) Commercial casino revenues were recorded at $37.5 billion in 2007. (AGA, 2011) Revenues were recorded at 34.6 billion in 2010 (AGA, 2011), a staggering amount even after the drastic economic decline our economy endured in the previous...
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...University of Ballarat | Industry Analysis Report Gaming Industry in US | BUMKT 5922 Competitive Analysis Individual Assignment | | Carolina Dos Santos (ID: 30058334) | 9/4/2011 | Table of Contents 1. Executive Summary 3 2. Introduction 4 3. Marco Environmental Analysis 5 4. Industry Analysis 7 5. Strategic Options and Recommendations 10 6. References 13 7. Appendices 14 1. Executive Summary It is expected that US gaming will not be the world number one casino region in the world due to the rapid growth of other casino regions. With its long lasting history and reputation, it is still a very profitable industry because of its large domestic and foreign market share. The well known brand and large portion of market share maintain its global competitive advantage over competitors and substitutes. 2. Introduction Casino gambling becomes very popular around the world and it is one of the most common types of entertainment in US and many other countries. According to Investopedia, A casino has been defined as houses or accommodates that provide facilities for certain types of gambling activities. Casino is usually built in combine with hotels, restaurants, retail shopping and other tourist attractions. It also provides facilities for hosting live entertainment events and sporting events (Investopedia 2011). The industry has been growing very fast in the past few decades in relate to its size worldwide. It has a large impact to the...
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...Chen 12/11/12 Smoking and Casino Can you imagine what casinos will be like if on day there is a ban on smoking in casino? These days more and more people are against the smoking. Also, many places have been starting to prohibit smoking in public or semipublic, like school, mall, airport or restaurant. It is obvious that people pay regard to the question of smoking. People think smoking will affect our health. Admittedly, smoking is not good for couples of reasons, but not in a casino. Smoking in casinos should not be banned by three reasons. First of all, smoking should not be banned because casinos need customers. Undoubtedly, smoking is not good for people, but In fact there are lots of customers smoking. If casinos prohibit smoke, then casino must lost lots of money. In addition, casinos employees who work long time in casino will inhale secondhand smoke all the time. It is not fair to the employees. But in fact employees are here to serve customers with the best, they also get pay more than jobs which out of casinos, so they should sacrifice themself to inhale secondhand smoke. Second, smoking should not be banned because people who come to casinos for gambling need to be enjoyed and relaxed. Certainly, some people don’t feel good with the smell of smoking, or even they think inhaling the smoke is unhealthy. However, many customers flew a long way to Vegas for vocation; they wish they can have fun, be free and unrestrained. If casinos do not allow people smoke indoor...
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...Culture: Obstacle or Key Customer? Almaayta, Hassan Borg, Richard TMG610 Michael Buckley Date, 2015 Table of Contents Abstract 3 Introduction 3 Methodology 4 Background 4 Dimensions of culture 5 Case one: Sweden 6 Sweden and its business culture 6 Swedes differ from the general view on culture 6 Case study: Slussen 6 Case two: Jordan 7 About Jordan 7 Business Culture in Jordan 8 Case study: Casino Project in Dead Sea 8 Consequences of stopping the project 9 Conclusion 9 References 10 Abstract Along with the huge trend toward globalization, the world economic get more united. Still there are several obstacles slow down this trend, or it seems to be that. One of these obstacles is the culture. Through the following discussion, the main idea is to show that culture is not an obstacle; rather that globalization should deal with it as a key customer. Moreover, nations, countries, states, and people should change their vision to start deal with globalization as a project not as a goal. This project should have several goals. These goals should be in line with customers’ requirements. Therefore, the customer who is the local culture will accept and support this project. Introduction Culture is an umbrella term for patterns of thoughts, emotions, and ways to act which mankind lives by. Everywhere we go outside our own land border one would face a new culture that somehow differs in a way from the one used to, regardless if it concerns a neighboring...
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...Las Vegas Sands Corporation History The Las Vegas Sands Corporation started in 1989 as “Las Vegas Sands Incorporated” with the purchase of the Sands hotel and casino by entrepreneur Sheldon Adelson and his partners. In 1995 Sheldon Adelson bought out his partners in The Interface Group (TIG), the group that made the initial purchase of the Sands, and began planning the Venetian. In 1996 the Sands was imploded and in 1999 the Venetian was opened. Five years later, in December of 2004, Adelson took the Las Vegas Sands Inc. group public and it has since been the Las Vegas Sands Corporation (LVSC). Financial history The initial offering on December 14th, 2004 consisted of 23,809,524 shares at a price of $29 per share. From Bloomberg Business week, also shown in Appendix 1, we can see that since the first full month that LVSC has been traded on the NYSE its average record monthly high stock value was $103.05 and its average monthly record low stock trade value was $10.17. Within the last five years, the LVSC has suffered through the world’s economic downturn just like any other company. In Appenix 2 we can see that the early part of 2009 was the worst, in terms of stock prices, for the LVSC. We can also see that within the last two years, LVSC has also regained a lot of ground. There current share price is on the NYSE is at 51.50 and the performance of the Macau and Singapore markets continues to positively increasing the value of the overall company. Political position...
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...legalized establishment within the Canadian economy. Gambling seems like a normal part of society for many, but for others it is viewed as a destructive force ruining a person and their relationships. Since we live in a liberal society we should be able to spend our wealth and time however we please, therefore the states policy towards gambling should be to regulate but not outlaw this popular past-time. The implementation of new policies would make gambling a more manageable issue rather than hindering the economic benefits it also provides. This is what Canada must do if it wants to maintain a tolerant society; the banning of gambling would violate the human rights we were promised as Canadians. The states policy on gambling should include advertising restrictions, limitations on availability and offer programs that assist those suffering from addiction. When first looking into this debated topic it was beneficial to gain a better understanding of the objections placed upon this establishment. People assume gambling is very addictive. Although it can be, I believe the speculation is ahead of the actual proof. In actuality, as the Centre for Addiction and Mental Health consents, the majority of adult citizens’ gamble and they do so safety. They set reasonable limits to their spending and are able to stop before they affect their financial safety. Jonathan Wolfe, a political philosopher, stated that many people believe gambling affects both a person and their family. There have...
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...Stakeholders…………………………………………………………………………………………..……Page 7 Non-Market Strategies and Analysis……………………………………………………………...Page 9 Market Strategies and Analysis………………………………………………………………...…Page 11 Economic Analysis……………………………………………………………………………………..Page 12 Political Analysis……………………………………………………………………………………..…Page 14 Evaluation of Outcomes………………………………………………………………………...……Page 15 Works Cited………………………………………………………………………………………….……Page 17 Overview The industry of gambling provides a country’s respective government with large amounts of financial support. Furthermore, gambling is a multi-billion dollar industry worldwide. The misfortunes and losses of people are the monumental and overwhelming gains to government or non-government regulated casinos. The establishment of government owned casinos creates much-needed jobs for citizens as well it creates a flow of profit to the country. This inflow of cash assists the government in completing necessary tasks and is beneficial to the public because taxes are not being raised to complete such tasks. Over the last twenty-five years, the regulation of gambling has become prevalent. There are still many situations in which gambling occurs in a deregulated form such as Internet gambling, which although many people partake in, is not officially legal in Canada. The criminal code played a large part in the prohibition of gambling in Canada. In 1969, an amendment was made to the Canadian Criminal Code to allow the use of lotteries to help provincial governments...
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...country for casino gambling, there seems to be something of a lull in the conversation as to how this decision will impact the city. Though the ballots have already been cast in favor of legalizing gambling in the state of Ohio, the Ohio Casino Control Commission (OCCC) reports that the initiative was only narrowly passed, with just over half of the popular vote (State 10). This leaves just under half of said voters left with what must be feelings of dread and doubt about the new establishments. As a soon-to-be, table games dealer at Cincinnati’s new casino myself, I have an interest in the ways my new profession is portrayed, advertised, and even perceived. This analysis does not aim to explain the ins-and-outs of or even offer a cost-benefit analysis of permitting casinos to operate in a city, or state. Indeed, the focus is on how the two halves of a general public can have such differing feelings on a subject or more specifically, how the materials they are exposed to on the issue can affect those thoughts and emotions. There are three specific genres explored within in order to give a more fair exploration of such a widely debated and broadly impacting industry. To create a logical progression, the works are presented in an order that might follow the order someone searching for casino information might follow. Beginning with a desire to know what gambling is and how it is performed, moving onto a search for where one might gamble, then to the impact of casinos on local,...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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...3 Industry Analysis: The Fundamentals When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact. —Warren Buffett, Chairman, Berkshire Hathaway The reinsurance business has the defect of being too attractive-looking to new entrants for its own good and will therefore always tend to be the opposite of, say, the old business of gathering and rendering dead horses that always tended to contain few and prosperous participants. —Charles T. Munger, Chairman, Wesco Financial Corp. OUTLINE n n n n n INTRODUCTION AND OBJECTIVES FROM ENVIRONMENTAL ANALYSIS TO INDUSTRY ANALYSIS THE DETERMINANTS OF INDUSTRY PROFIT: DEMAND AND COMPETITION ANALYZING INDUSTRY ATTRACTIVENESS Porter’s Five Forces of Competition Framework Competition from Substitutes Threat of Entry Rivalry Between Established Competitors Bargaining Power of Buyers Bargaining Power of Suppliers APPLYING INDUSTRY ANALYSIS Describing Industry Structure Forecasting Industry Profitability Strategies to Alter Industry Structure 66 INTRODUCTION AND OBJECTIVES 67 n n n n DEFINING INDUSTRIES: WHERE TO DRAW THE BOUNDARIES Industries and Markets Defining Markets: Substitution in Demand and Supply FROM INDUSTRY ATTRACTIVENESS TO COMPETITIVE ADVANTAGE: IDENTIFYING KEY SUCCESS FACTORS SUMMARY NOTES INTRODUCTION AND OBJECTIVES In this chapter and the next we explore the external environment of...
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...Erik Casimir Lindholm Professor: Will English 1 Essay #4 May 13 2012 Unemployment today The unemployment rate today is less than it has been before, but it is still more than a year ago. This is a problem that always is an issue, and wherever you go in the world, there are almost always some people without a job. Today’s unemployment rate is a problem not just for the people without a job, but for the government and the state’s economic status. But how does unemployment affect our economy? Because with a lot of jobs, there is a good quality of life, and the money in the society is divided into all families instead as it is today, when some have too much and others have nothing. With a job to earn money from, a parent can take care of its family by providing with food and shelter, and this is one of the basic ideas of survival today. ------------------------------------------------- Unemployment rates by age today in the United States of America* ------------------------------------------------- Teenagers – 24.9% Whites – 7.4% ------------------------------------------------- Adult Women – 7.5% Hispanics – 10.3% ------------------------------------------------- Adult Men – 7.4% Blacks - 13.05 ------------------------------------------------- *Statistics taken from The Bureau of labor statistics; http://bls.gov/news.release/empsit.nr0.htm There are many factors contributing to the difference between African Americans and Whites. Fewer black people...
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...continents on earth and these continents constitutes of many states and even tiny islands that can be considered as a tourism destinations and attractions. Where it is accessible, there will be tourists. Singapore has one of the largest service sectors in tourism. For Singapore to take this advantage as a tourism destination, it has contributed 3% of Singapore's GDP which has generated a sum of US$ 9.4 billion in 2007. As one of the most popular countries in Asia, Singapore has been growing rapidly for the past few years. With the help of the tourism industry, it has strengthened the infrastructure developments, in addition of various events and the countries strategic location in the heart of region. This shows how much the role of tourism industry can play in Singapore's economy. To ensure that tourism remains a key economic pillar, a bold target, Tourism 2015, was unveiled in the year 2005. The objectives of Singapore is to triple the tourism receipts to US$ 30 Billion, doubling visitor arrivals to 17 Million, and creating an additional 100,000 jobs in the services sector by 2015, according to "Opportunities in Singapore Tourism Industry (2007-2009)". Having all these advantages, the negatives are also a factor to look at so by doing this research; I will have a better view on the impacts, advantages and disadvantages in Singapore tourism industry. (Opportunities in Singapore Tourism Industry (2007-2009) - Market Research Reports - Research and Markets) Literature Review In the...
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...Group 2 | Harrah’s Entertainment: Hitting the crm Jackpot | Harrah’s Entertainment Inc: Come out and Play In 1931, the casino gaming was legalized in Nevada and has become a socially acceptable form of recreational entertainment, thus, proliferation of casinos followed. In the early period of the industry, religious settlers felt that gambling was immoral which gambling was unacceptable for churches. But over the last decades, the popularity of gaming/casino industry has risen to new heights as casinos were forced to continuously change, renew, and rejuvenate themselves in order to survive in the industry. According to research, the US gambling industry consists of about 500 casinos, about 400 Indian casinos and bingo halls, and lotteries in about 40 states with combined annual revenue of about $80 billion. Today, the major players of the industry include Harrah’s Entertainment, MGM Resorts, and Boyd Gaming. The Gaming Industry To help us assess and have an in-depth understanding of this particular industry, Porter’s Five Forces Analysis is utilized: The threat of entry poses low pressure on the industry due to high barriers to entry. Government regulations and the large amount of capital requirement create barriers to new firms. The presence of close substitute products or services brings high influence on the casino industry. As an industry involved in providing leisure opportunities, it competes with a wide range of leisure activities like...
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...ethical behavior of their employees. The company has both tangible and intangible resources. Their capabilities include excellent management of operations and human resources, specifically tailored offerings to the Asian market, the MICE business and Eco 360 cost savings initiative. We have identified their core competencies to be in MICE, the Eco 360 program, its Paiza Club which targets high end Asian clientele and the Venetian theme which is seen prominently in their establishments. We have also analyzed the company’s external environment based on Porter’s 5 forces. Most of the forces are identified to be moderate, with the exception of threat of substitutes being high. For this paper, we have defined their core business to be in the casino business. Their resort...
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...point of this dimension. Delfabbro(2009) has mentioned that locational characteristics is also influences the nature of gambling activities such as whether they can play at home, alone, a groups, at casino, or can be on telephone and on internet. Besides, the locational characteristics of gambling play a significant role in people’s choice of gambling activity (Productivity Commission, 1999). Different venue can also affect social relationships, and environmental air at the scene of gambling activities. Players prefer to engage in lively environment, casino, race track, where the player can easily interact with the host and other players. Bustling atmosphere can create more dynamic, stimulating players more involved. (Charlotte Fabiansson, 2010) But in addition, with today's modern technology, players can easily participate in gambling activities such as betting at the races at home without directly by phone and internet. (Richard McGowan, 2008) Today, with modern technology, the gambling the phone and internet gambling is increasing because of the rapid, convenient, time-saving to the player. Players just sit at home and can be able to communicate, bet with friends and other players around the world with the click or one phone call. Casino host also can create online casino. However, some forms of gambling on the Internet also has some side effects such as real money of players can not withdraw after winning another players like online Texas Hold'em poker program. Word...
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