Class III Gaming in Las Vegas
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To determine what is involved in starting a casino in Nevada in general and Las Vegas in particular, this paper provides a brief history of Las Vegas, an overview of the casino business in terms of the financial aspects of starting them, controlling regulations and statues, common investment patterns, government regulation, and modern casino management. A summary of the research and important findings are presented in the conclusion.
Review and Discussion
Review and Discussion
From the Paper:"Unlike the legitimate investment climate that typifies the Las Vegas gaming industry today, the resources for constructing the original "Strip" came from sordid sources that exerted control over the industry until the 1970s. As Mohl reports, "Using mob and teamster pension money, Las Vegas's newly arrived criminal entrepreneurs built hotels and casinos and retained control of the growing city until the 1970s, when outside corporate interests moved in and initiated a new phase in the city's development" (p. 369). The authorities agree that the criminal element has been replaced by large corporations with a view to bring the gaming industry in Las Vegas to new levels. As a result, today, most of the casinos in Las Vegas are owned by gaming corporations (Chandler & Jones, 2003). Likewise, Cooper (2004) reports that, "Wall Street corporations have replaced mafias and mobs. At a recent gambling industry convention in Las Vegas, the chief financial officers of three major casinos sat on a public panel. "
Sample of Sources Used:
- Alexander, R. C. & Paterline, B. A. (2005). Boom or bust? Casino gaming and host municipalities. International Social Science Review, 80(1-2), 20-21.
- Chandler, S. & Jones, J. (2003). Because a better world is possible: Women casino workers, union activism and the creation of a just workplace. Journal of Sociology & Social Welfare, 30(4), 57.
- Cooper, M. (2004, May 24). America's last honest place: Las Vegas is capitalism stripped bare. The Nation, 278(20), 28.
- Fun facts. (2008). City of Las Vegas: LasVegasNevada.gov. [Online]. Available: http://www. lasvegasnevada.gov/FactsStatistics/funfacts.htm.
- Gragg, L. (2007, February). Las Vegas: Who built America's playground? History Today, 57(2), 51.
Cite this Research Paper:
Class III Gaming in Las Vegas (2010, August 29) Retrieved June 26, 2022, from https://www.academon.com/research-paper/class-iii-gaming-in-las-vegas-129066/
"Class III Gaming in Las Vegas" 29 August 2010. Web. 26 June. 2022. <https://www.academon.com/research-paper/class-iii-gaming-in-las-vegas-129066/>