The Gambling Industry

Paper Summary:

This paper explains that, having been between legal and illegal for part of its existence and, at times, closely connected to the Mafia, lately, the image of the casino gambling industry has changed, combining gambling with entertainment and unusual architecture to attract larger numbers of consumers. The author points out that the amount of money people spend on a trip to Vegas or a simple evening in a casino is directly related to the income level of the population; therefore, the economic component of the market has the greatest impact on the casino gambling industry. The paper relates that an important target market is professional gamblers, who are generally rich or very rich persons, who regularly spend large amounts of money at the tables, who enjoy luxurious treatment, and who are most likely to go to the casinos at Monte Carlo rather than Los Vegas.

Table of Contents
The Macro-Environment
Marketing Objectives
The Casino Gambling Industry
Target Market
The Marketing Mix
Place
Promotion
Price
Product
Conclusion

From the Paper:

"The demographic component does not actually affect the casino gambling industry. Perhaps only in terms of an ascendant trend in population growth, which would mean a higher probability that people may go gambling. Another opportunity, however, is provided by an increase of families. I am asserting this because, in the last years at least, it is ever more often that family groups go to cities like Vegas or Atlantic City and spend an amount of money on gambling. As for the geographical distribution, referring here to a urban or rural distribution, it is often the case that urban people gamble more in casinos than rural dwellers. As such, an increase in the number of people who live in the city will certainly be considered an opportunity."

More papers on The Gambling Industry:

• Analytical Essay # 59196 : "Economic Analysis of the Gambling Industry"
• Research Paper # 61512 : "Las Vegas and the Gambling Industry"
• Term Paper # 148647 : "The US Gambling Industry"

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