Untitled Quiz

Study Notes

Handle: Total amount of all bets placed.
Win: Net amount spent by customers in a casino.
Gaming Revenue: Money earned from casino wins.
Non-Gaming Revenue: Income from sources other than gambling, like restaurants or entertainment.

Gaming: Activities legally permitted by law, often associated with regulations and oversight.
Gambling: Activities involving risk for the thrill of the action and potential winnings.
- Requires consideration, chance, and prize.
Gaming Examples: Playing video games, tabletop games, or role-playing games.

3rd Millennium B.C.: Chinese records document the first official account of a public gambling house.
1626: The first public gambling house in Venice, Italy, was established.
Roman Era: Gambling was widespread, with activities like chariot races, cockfights, and dice throwing.
Las Vegas:
- Gaming and entertainment became the primary drivers of the city's growth.
- 1940-1976: Las Vegas was a gambling and entertainment monopoly.
- Bugsy Siegel: played a crucial role in developing the Las Vegas' gambling scene, establishing the Flamingo Hotel and Casino.

California v. Cabazon Band of Mission Indians: Court case that led to the development of Indian gaming.
Indian Gaming Regulatory Act (IGRA): Federal law that governs gambling on tribal lands.
Current Status: Over 354 gaming facilities operate in 28 states, regulated by the IGRA.

MGM Mirage:
- Largest gaming and hotel company in the world.
- Operates iconic properties like The Bellagio, MGM Grand Las Vegas, The Mirage, and Treasure Island.
Boyd Gaming:
- Publicly traded company with a strong presence in Las Vegas.
- Owns casinos in multiple US states.
Harrah’s Entertainment:
- Merged with Caesar’s Entertainment.
- World's largest casino operator.
- Owns over 40 casinos in 3 countries.

Table Games:
- Blackjack
- Roulette
- Craps
Card Games:
- Poker
- Baccarat
Slot Machines/Video Games:
- Variety of themes and formats.
Keno and Bingo:
- Popular social forms of gambling.
Race and Sports Books:
- Offer wagering on sporting events and horse racing.

Gambling: The primary driving force for many visitors.
Recreation/Entertainment: Casinos offer a variety of entertainment options.
Social: Provides an environment for socializing.
Economic: Casinos contribute to local economies through employment and taxes.
Curiosity: Some visit out of novelty or curiosity.
Amenities: Hotels, restaurants, and other attractive amenities often attached to casinos.

Organized Crime: Gaming industries can be susceptible to organized crime involvement.
Gambling Addiction: A significant public health concern with potentially devastating consequences.