Abstract This paper shows that gambling is a legitimate industry, using the 'bathtub model,' and analyzes its ultimate effects with input-output modeling. It investigates government regulation of the industry and analyzes its effects and the necessity of regulation, also examining moral and legal objections. The paper is well researched and relies heavily on expert opinion to prove the viability of the gamingindustry.
From the Paper "People have had demand for the act of gambling (as well as aversion to it) for many ages. The distant past held gambling in the esteem of being communication from the gods, in whose eyes a lucky gambler held favor (Encarta 2002). Not much has changed, as people still recognize the exceptionality of 'beating the odds,' and the foolishness of expending too many resources in attempt to do so. By nature, the act adversely affects many personal finances; the industry, into which it has developed in modern day America, though, should not be so simply evaluated. This paper will explore the gaming industry's value by questioning its role in the American economy."
Tags: bathtub, berlin, economics, economy, frey, gambling, gazel, industry, model
Abstract 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 gamblingindustry 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 gamblingindustry. 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 GamblingIndustry 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."
Abstract This paper describes and explains the video game console industry. It provides a brief history of the industry and sets out to examine what the drivers of the industry are, and what is the level of competition.
From the Paper "The video game console industry is a global industry, dominated by three major players - Nintendo, Sony and Microsoft. The industry has a history of technological leaps, so consoles are currently in what is known as the seventh generation. Since the first launch of a seventh generation console in 2005 (the Xbox 360), over 64 million units of seventh generation consoles have been sold by the three leading manufacturers. As the industry moves towards an eighth generation (possible in 2010), it is worth examining what the drivers of the industry are, and what is the level of competition.
"There are several strategy-shaping business and economic characteristics of the console segment. These include the intensity of competition, the relationship between console manufacturers and game producers, and global economic health. The major business characteristic that shapes strategy is the competition, combined with the large size of the industry. The market is dominated by three global firms - Microsoft, Sony and Nintendo. They are all locked into the same technology cycle, and the dawn of each cycle provides an opportunity for tremendous gains or losses in market share. The strategies of each of these firms are heavily influenced by the competition and the technology cycle."
This paper discusses the economic effects of gambling. Sociological ramifications are only considered as they have direct or indirect consequences on the economy at the local, state, and national levels.
Abstract This paper explains that the gamblingindustry is associated with large sums of money, which might be one of the top five revenue sources for certain states and is an important source of income to many Native American tribes that operate casinos located on their land. The author points out that the gaming association is a very powerful lobby, which wants to introduce legalized gambling into every state. The author relates that most studies show the economic impact in a positive light, but a careful perusal of the hidden costs show that maybe the economic impact of gaming in the long run does not meet the expectations. Tables.
From the Paper "The American Gaming Association, in their website (www.americangaming.org) reports that there are more than 433 land-based, river-based and racetrack casinos scattered throughout eleven states. The gaming associations claim that they bring huge revenues to the state in the order of several billion dollars. In addition, gaming also provides the states strapped for cash with much needed revenues from state taxes?from a nationwide low of 6.25 in Nevada to a high of 35 per cent in the state of Illinois. These huge sums of money did not include the numerous smaller casinos whose gross annual revenues were one million dollars or less."
Abstract This report deals with how the gaming and entertainment industry affects Las Vegas in terms of structure. The report looks at issues of urban structure, consumption, culture, and economy to look at the ways in which this city operates and has operated in the past, in terms of changes that have been taking place in Las Vegas, the role of the worker, the target of tourism, and other attendant issues. The report
also explores the relationship between consumption and cities in post-war and contemporary America, because these are the two main epochs of the growth of Las Vegas' structure via the gaming and entertainment industry.
From the Paper "Aside from showing how this industry contributes to Las Vegas' structure, this report will also look at elements of the commodity city and the landscape as it is organized around consumer desires, particularly in terms of the recent Wynn developments in the city being commodity spectacles. The report will also look at Las Vegas as a place of consumption, focusing on economic factors which again link the
gaming and entertainment industry to Las Vegas as a city in terms of its essential structure. "
Abstract The paper discusses the overall characteristics of e-commerce and relates e-commerce to the gamblingindustry. More specifically, the paper examines the relationship between e-commerce and online gambling and the impact that e-commerce has had on essentially creating this industry segment. The consumer profile is examined for this industry and future predictions for the industry are made relative to e-commerce influences.
From the Paper "Corporations the world over have utilized e-business or some aspect of electronic commerce (e-commerce) to either act as their sole business model or to enhance the productive performance in some way of their existing traditional business models. E-commerce might be considered as a type of business transaction where the parties to the transaction conduct their commerce electronically where electronically has come to be associated primarily with the Internet (Epstein, 2004, pp.17-24). Yet, technically speaking, e-commerce could just as well be considered to be transacted by phone, fax, or other electronic form of media."
Abstract The paper explains that given the scope of this industry, its attractive profitability and its growing international acceptance, it is clear that the online gamblingindustry will continue to be a fixture within the global economy. However, recent politically motivated regulatory moves in the United States has brought the industry to the national consciousness and made its regulation, if not its outright banning, the intent of the federal government.
From the Paper "The online gambling segment is already a $3+ billion industry and growing exponentially: "The amount gambled on poker websites around the world in 2005 is estimated to be more than USD 60 billion...- 75% of the industry experts surveyed believe that the global annual rake/commission in the 2-3 years will be more than USD 4 billion" (Online par.1)."
Abstract This research paper examines the issue of online gambling in North America. Specific attention is paid to the technological underpinnings necessary to operate an Internet gambling site, the overall demand for gambling driving the rise in the number of such sites and the fact that operating such a site is illegal both in the U.S. and Canada. This legal barrier unfortunately renders the question of how much revenues will grow in North America moot.
Abstract This paper describes the games of lacrosse and Plum Stone Dice as important examples of the religious and cultural significance of warrior youths and tribal life for Native Americans. The paper discusses the history of the games and the purpose of them being played in the Native-American culture.
From the Paper "Religion Studies: Understanding the Religious and Cultural Premise of Gambling and Gaming in Native American Culture This study will examine the nature of gambling and gaming within North American communities and tradition. The current rise of gaming casinos in many Indian reservations has reached an all time high, but this is not without a long religious and cultural tradition of gaming within these communities. In essence, the phenomenon of Native American gaming and gambling has long been a part of their culture through dice games and lacrosse that rely on religious principles and ceremonial tradition."
This paper explores how the tragic events of 9-11-01 and economic downturn effected, both negatively and positively, the gaming (casino gambling) industry which is big business in the United States.
Abstract This paper states that, immediately after September 11, the negative impact of that day's horrible terrorist attacks was felt in the gamingindustry especially in casinos that are dependent on air travel which decreased markedly. The author feels that, even during tough economic times, Americans tend to gamble more. The paper cites various stock analysis reports that are favorable to the industry.
From the Paper "Newer, alternative destinations for casinos, however, have helped other gaming industry companies. Slot machine companies like International Game Technology (IGT) have prospered since September 11. As Christopher Palmeri writes, ?Tough economic times often prompt states to seek new sources of revenue, such as casinos. The 1970s brought Atlantic City, and the early 1990s saw riverboat gambling spread in the Midwest. Casino gambling is now being considered in eight states, most notably New York, Pennsylvania, and Kentucky.?
Abstract The paper explains the process of money laundering and focuses on the drug trafficking and illegal gamblingindustries. The paper then explores the relationship between illegal drug trade and gambling and shows how casinos have been used as ways for drug traffickers to launder money. The paper points out the limitations in prosecutors' ability to prove one is engaged in money laundering as well as the Internet and technology that make it increasingly difficult to regulate financial transactions. The paper concludes that despite these limitations, the focus on money laundering remains one of the most effective ways to curtail both the drug trade and illegal gambling.
Outline:
What is money laundering?
Drug Money Laundering
Money Laundering: Illegal Gambling Relationship between Illegal Drugs and Gambling Changes in the Law
From the Paper "The usual process of laundering drug money entails three basic steps. The first stage involves depositing the drug proceeds into clandestine domestic and foreign financial institutions that do not seem obviously illegal. Sometimes the profits are broken up into small amounts, usually less than $10,000 to avoid currency reporting requirements or through creating sham companies, casinos, wire transfer companies, or simply smuggling the currency out of the United States in suitcases or concealing the cash in some other manner (Zagaris & Ehlers 2003). In the case of a pseudoephedrine smuggling ring an airline employee was recruited at O'Hare airport in Chicago to help smuggle drug-derived cash outside of the United States, sometimes stuffing the bills in empty cereal boxes that were packed in a suitcase ("Cash Smuggling Case at O'Hare Airport," U.S. Drug Administration Press Release, 2004)."
Abstract In this article, the writer notes that casino gambling has grown over the last few decades from a highly specialized, limited activity to a vast, widespread pastime for hundreds of thousands of individuals. The writer maintains that while this expansion has created employment opportunities and generated billions of dollars for tax revenue, there are downfalls to the practice that are inherent due to the type of industry. This paper examines one such possible negative aspect of increased gambling, that of employee gambling problems. The writer analyzes casino employee gambling in terms of frequency, legality, and the problems associated with the practice, including the possibility of addiction. This analysis shows that while casino employee gambling may seem a right to some, the potential negative effects of gambling for casino employees are problematic enough that the practice should not be legal.
From the Paper "Another reason for a possible increase in gambling among casino employees is that of a predisposition to addiction. According to Dr. Howard Shaffer, director of the medical school of Harvard's division of Addiction, casino employees are at higher risk because these employees often have existing addictive behaviors, such as smoking or drinking. For example, according to Shaffer's study, those with existing alcohol addictions have three times the risk for a gambling addiction as those without prior drinking problems. Those with depression are three and a half times more likely to be pathological gamblers. Shaffer states gamblers tend to have other symptoms of problems, such as depression, anxiety and hyperactivity, which may lead them to seek employment at a gambling establishment. While Shaffer notes it is unclear which of the symptoms, those of gambling, alcoholism, smoking, and depression, serve as the catalyst for other problems, it is clear that they are linked."
Abstract This paper contends that the online gamingindustry is essentially divided into two segments, namely, the PC/console type gaming community and the online gambling community. It explains that while these two segments market to different consumers much of the technology and development processes are identical. Additionally, it explores the advances in technology which have made both segments widely accessible to all demographics.
From the Paper "The online gaming industry is primarily divided into two separate segments: the PC/console type gaming/role playing gaming segment and the online gaming industry that centers on gambling activities (United, 2002). While these segments concentrate on different markets the technologies and business models they operate under are primarily the same in that they both utilize either pay as you play or subscription type revenue models, rely on the internet and its technology backbone, and are continuously developing evermore interactive processes. Industry Development Both of these online gaming segments have at their core a strong foundation in face to face, highly social gaming traditions. Gambling, such as poker, has been around for many thousands of years and PC gaming has at its roots such early role playing games such as Dungeons & Dragons and all of these interpersonal activities have migrated to the Internet in tandem with the spread of the World Wide Web first ..."
Abstract This paper analyzes Harrah's Entertainment Inc. and its growth in the gamingindustry. The paper provides a strengths, weaknesses, opportunities, threats (SWOT) analysis for the company and then looks at financial considerations that are relevant for its establishments. Finally, the paper briefly discusses Harrah's activity ratios and growth ratios.
Table of Contents:
Introduction
SWOT Analysis
Strengths
Weaknesses
Opportunities
Threats
Financial Ratios
Profitability Ratios
Liquidity Ratio
Leverage Ratios
Activity Ratio
Growth Ratios
Conclusion
From the Paper "Harrah's is a well managed company that is has moved to the extreme top of the gambling and gaming industry. It is has accomplished this through a series of strategic acquisitions including its purchase of Caesars as well as its move into the Asia-Pacific Rim. It is clear that Harrah's is intent on not only increasing profitability but in returning value to shareholders over the long-term and that is why this would be a strong investment target. Additionally, Harrah's sound management indicates that it would be a positive place to work with much room for growth and advancement given its diverse operations. Furthermore, because Harrah's values customer service and, in fact, relies on its customer service to ensure revenue continuity, it could be said that customer service is actually Harrah's primary line of business and that all its other activities are pursuant to its treatment of its guests."
