Gaming Entertainment

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  • 1. C H A P T E R The Gaming Entertainment Industry 11 ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 2. Gaming Entertainment Defined • Gaming Entertainment… – Commercial and Native American casinos – Card rooms – Charitable games – Lottery operated games – Wagering on greyhound and horse races ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 3. Definitions • Handle… – What the consumer bets (wagers) – $500 billion dollars • Win… – Gross gambling revenue – $48 billion dollars • Casinos count for half of the U.S. gaming dollars ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 4. Gaming Versus Gambling • Gaming entertainment… – – – – – – Casino floor (gambling) High-quality food and beverage Hotel rooms Live performances Theme park, theme rides, and museums Land, based, and riverboats • Gambling… – Playing a game of risk for chance of making money ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 5. Who Is the Guest? • Guests… – Increasing acceptance by all consumers – 32% of U.S. households gamble in casinos – Younger players – White-collar jobs – Wants total entertainment experience ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 6. History of Gaming • History… – Gambling legalized in 1931 in Las Vegas – From 1940-1978 Las Vegas was a monopoly for gaming • No hotel rooms • No entertainment – Gaming Control Board and Nevada Gaming Commission ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 7. The Move to New Jersey • New Jersey… – Gambling legalized in 1976 – Looked at gaming to invest capital, create jobs, pay taxes, and attract tourists – Casino Control Act funded Casino Control Commission ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 8. Native American Gaming • Native American… – In 1987 the Supreme Court determined if state has gaming, so may Native Americans – 11% of all winnings are from Native American casinos – Indian Gaming Regulatory Act (IGRA) • Provides framework for games • Defines different “classes” of gaming ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 9. National Gambling Impact Study Commission • Commission… – Signed into law in 1996 to study social and economic impacts of gambling in the United States – Two-year study ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 10. Focus of Commission • Commission (cont.)… – Review existing policies – Relationship • Gambling and crime – Assess problem gambling – Review impact on society ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 11. Focus of Commission • Commission (cont.)… – Determine how gambling affects revenue to government – Study interstate and international effects of gambling by electronic means ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 12. Size and Scope • Growth… – Publicly traded companies is 45 – Public acceptance – People like to wager – More demand than supply • Aided economic growth in states… – Taxes – Capital investment ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 13. Controversy • Controversy… – Dislike of gaming • Moral beliefs – Social costs • Organized crime • Street crime – Gambling addictions ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 14. Key Players Mirage Resorts • Mirage Resorts… – Treasure Island – Golden Nugget – Monte Carlo – Bellagio – Soon to be in Atlantic City ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 15. Key Players Harrah’s Entertainment • Harrah’s Entertainment… – Reno, Lake Tahoe, Las Vegas, and Laughlin NV – Atlantic City, NJ – Riverboat and dockside casinos – Native American Casinos ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 16. Key Players Hilton Hotels Corporation • Hilton Hotels Corporation… – Purchased Bally Entertainment – Las Vegas, Reno, and Laughlin – Atlantic City – New Orleans riverboat – Canadian casino ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 17. Star Trek at Hilton Las Vegas • Star Trek… – $70 million venture – Targets • Baby boomers • Generation X – Simulation ride – Television screens ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 18. Key Players • Players… – Caesars World hotel/casinos – Las Vegas, Lake Tahoe – Atlantic City ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 19. Key Players Circus Circus • Circus Circus Hotel… – Owns hotels and casinos in three states ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 20. Luxor Owned by Circus Circus • Luxor… – Based on Egyptian pyramid – World’s largest atrium – 4500 hotel rooms – Thrill seeking rides – Museum ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 21. Excalibur Owned by Circus Circus • Excalibur… – Based on medieval period of time – 4000 hotel rooms – Evening jousting matches ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 22. Key Players MGM Grand • MGM Grand… – 113 acres – 5000 hotel rooms – “City of Entertainment” – Six-story lion entry ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 23. New Players • New Players… – Boyd Gaming • 10 gaming and hotel facilities in 4 states – Grand Casinos • Develops, constructs, and manages land-based and dockside casinos – New York New York Casino – Sands Venetian Resort ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 24. Careers in Gaming Entertainment • Careers… – Hotel operations – Food and beverage operations – Casino operations – Retail operations – Entertainment operations ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 25. Trends in Gaming Entertainment • Trends… – Merging frenzy – Look at entertainment for profit & growth – Hotel room inventory in gaming properties is expanding – Continued scrutiny by government – Exceptional service quality is key to success – Great management opportunities for students ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 26. Casino games • Is a wildly popular lottery style game that is played around the world for cash prizes, rewards and to raise money for charitable causes. • Its popular with all people of all ages and background because it’s easy to play. • Is a completely random game so there's no such thing as winning strategies. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 27. Blackjack 21 • Is by far the most popular casino table game. • The objective of blackjack is for a player to come close to 21 without going over. • Ace= 1 or 11 (whichever the player chooses in a given situation. • Kings, Queens and Jacks (face cards)= 10 • Other card is represented by its face value. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 28. Two basic decisions in blackjack 1.Hit – The act of a hit in blackjack can be explained as the request for an additional card. Blackjack players may hit as many times as they wish either until they go 'bust' or they decide to stand. 2.Staying – To stand in the game of blackjack is to stay with the cards that have been dealt. A player stands when satisfied with the cards in hand and when preferring not to request further cards. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 29. • Split - is possible when a hand contains a pair. In such a situation, the pair may be separated into two individual hands. – Players may only split with a pair in a two card hand. In the case of a split a new bet is then placed on the second hand. The gamer then plays each hand separately until going bust or reaching the decision to stand. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 30. Surrender - option is available at the majority of online blackjack gaming locations. This alternative enables a player to surrender the game, thereby forfeiting half the amount of the wager and receiving back the other half ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 31. • Double  - This may only take place after a player has viewed the two cards dealt. It should be taken into consideration that after doubling down a player may hit only once and therefore receive only one more card. Many blackjack experts would therefore recommend that a good time to take advantage of the blackjack double down option is when in possession of a card total of 9, 10 or 11. In such a situation, there is no possibility of going bust and the receipt of a high card upon the hit would create a high hand. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 32. Rules 1. The dealer must hit until they reach 17 or higher. 2. Anyone whose cards are over 21 has busted and lose automatically 3. If the players cards end up being the same value as the dealer, it is called “push”, bet are given back 4. If the players card value beats the dealer’s, then they are the winner. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 33. Baccarat • Cards are dealt in two hands, named Player and Banker. • The objective of the game is to correctly pick which hand will have the higher score, with the highest score being 9 and the lowest being 0. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 34. three spaces are where each player can place chips • Players - The first space, which has one of the letters from the word "Players", is where chips on the Player Hand are set. • Bankers - The second space back - with one of the letters from the word "Bankers" - is where chips on the Bank Hand are set. • Tie Bet - The third box closest to the center of the table, which is marked by the player's seat number, is where chips for a Tie bet are set. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 35. 3 dealers • Dealer's at Position 3 and Position 2 stand near the chips on one side of the table. These dealers take care of betting on their side of the table. • Position 1 is the Baccarat caller's. He stands in the center of the Baccarat table on the opposite side from the two end dealers and makes calls on the hands. ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker
  • 36. RULES • • • • The point value of the cards All 10's and face cards have an importance of "0“ Aces are constantly worth “1” all other cards are worth their face value When the sum of two or more cards is greater than ten, the point total is decreased by 10 ©2004 Pearson Education, Inc. Upper Saddle River, New Jersey 07458 Introduction to Hospitality Management, First Edition John Walker