HMSS101 Midterms Lesson 1-4 PDF

THE GAMING AND ENTERTAINMENT INDUSTRY GAMING INDUSTRY land-based riverboat casinos card rooms charitable lottery-operated games greyhound and horses  DEFINITIONS TO REMEMBER HANDLE - Total amount of all bets WIN - The net amount of spending by the customer. CRUIS...

THE GAMING AND ENTERTAINMENT INDUSTRY GAMING INDUSTRY land-based riverboat casinos card rooms charitable lottery-operated games greyhound and horses  DEFINITIONS TO REMEMBER HANDLE - Total amount of all bets WIN - The net amount of spending by the customer. CRUISE TO NOWHERE- Gaming and entertainment on board the ship are the main attraction. GAMING REVENUE- obtained from casino win or the money that the guest spend on the casino floor NON-GAMING REVENUE - Comes from the sources that are not related to betting on the casino floor  GAMING VS GAMBLING GAMING Refers to instances in which the activity has been specifically permitted by law. GAMBLIN GPlaying game of risk for the thrill of the “action” and the chance of making money. Requires three elements be present: consideration, chance and prize. GAMING Playing a role-playing game, in which players assume fictional roles Playing a tabletop game, any game played on a flat surface Playing a video game, an electronic game with a video interface WHO IS THE GUEST? History Review of Gaming Entertainment  Chinese Records- First Official Account ⚬ 3rd millennium B.C. Public Gambling House ⚬ 1626- Venice, Italy Romans- gamblers ⚬ chariot races, cockfights and dice throwing  LAS VEGAS ⚬ Gaming Entertainment Business Roots ⚬ 1940-1976- Monopoly ⚬ Bugsy Siegel Benjamin Hymen Siegelbaum “Bugsy Siegel” February 28, 1906- Brooklyn 1931- executed Joe Masseria Developed rackets in the West Benjamin Hymen Siegelbaum Developed gambling dens and ship (California) Flamingo Hotel and Casino ⚬ $6 Million June 20, 1947- died (Beverly Hills) BUGSY SIEGEL LINK  1970s ⚬ Atlantic City- crime & poverty 1976 ⚬ New Jersey voters approved casino gambling in Atlantic City ⚬ Casino Control Act Casino Control Act Casino Control Commission *48 states only Native American Gambling In California v. Cabazon Band of Mission Indians Indian Gaming Regulatory Act (IGRA) 354 gaming facilities- 28 states Size and Scope of Gaming Casino gaming companies pay an average of 12% of total revenues in taxes.  KEY PLAYERS MGM Mirage Boyd Harrah’s Entertainment Resorts Gaming The Bellagio Paired up with Caesar‘s MGM Grand Las Entertainment Vegas 18 gaming World‘s biggest casino operator The Mirage Operates 40 casinos in 3 and hotel Treasure Island New York-New countries facilities in A 1.5 billion company, publicly 6 states York traded on the New York Stock Boardwalk Hotel and Casino Exchange.  GAMES AND FACILITIES ON THE CASINO FLOOR Table Games Card Games Slot Machines/ Video Games Keno and Bingo  GAMES AND FACILITIES ON THE CASINO FLOOR Race and Sports Casino Rage Books Surveillance Ancillary Dept. REASONS FOR VISITING CASINOS ⚬ The lure of gambling ⚬ Recreation/ Entertainment ⚬ Social ⚬ Economic ⚬ Curiosity ⚬ Amenity offerings  CONTROVERSIAL ISSUES IN GAMING ENTERTAINMENT The Impact on Organized Crime CONTROVERSIAL ISSUES IN GAMING ENTERTAINMENT Gambling Addiction