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Casino Management

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Casino Management
Karl Kampendahl
HMT440
Casino Management
Professor Eva Smith
June 16, 2011

Casino Management

Introduction

Casino is no longer an alien word for people who have some idea about gambling. Casino has become a favorite place for a large number of people who want to spend time in recreation activities. The United States is the breeding place for International casinos. People from every part of the world visit the casinos in the United States for gambling purpose. Casino Industry in the US is one of the largest revenue generating industries for the US government.

It is not easy to manage a place where financial transactions of millions of dollars are made every day. Casino management is a challenging task for the casino managers. It is no wonder that several institutes in the United States now offering casino management courses keeping the complexity of casino management in mind.

History and Development of Casino Industry

Gambling in the United States goes back to 1800s when the British introduced it in the United States. However, the public opinion and the political establishment were always divided on the issue of gambling. That led to several protest and legal battles. The most defining moment in the gambling history came in 1931. “The stock market crash of 1929 caused a tremendous financial distress in the country. That changed the anti-gambling mood and gambling was considered as an option to boost the economy” (Cabot, 24).

“In 1931, Nevada took the initiative to legalize most forms of gambling in the state. The decision of the Nevada Legislature was aimed at encouraging the tourism industry and making the state financially secure” (Cabot, 25).

Casino gaming dominates the commercial gambling market in the United States now. “For 45 years, Nevada was the only state to legalize gambling. Later New Jersey and other states followed suit” (Gallup Organization, 1999). Currently casino industry is booming in most parts of the United States.


Bibliography: Belletire, Michael, et al. Legislating and Regulating Casino Gaming: A View from State Regulators. National Gaming Study Commission, 1999. 3-7 Bureau of Labor Statistics (US Department of Labor). "Gaming Cage Workers". 20 December 2005. 13 January 2006 <http://www.bls.gov/oco/ocos278.htm>. Cabot, Anthony N. Casino Gaming: Policy, Economics, and Regulation. UNLV International Gaming Institute, Las Vegas, NV, 1996. Eadington, William R., and Cornelius, Judy. The Business of Gaming: Economic and Management Issues. Institute for the Study of Gambling and Commercial Gaming, University of Nevada, Reno, NV, 1999. Gallup Organization. Gambling in America: A Gallup Organization Poll. June 17, 1999. Hashimoto, Kathryn, Fried-Kline, Sheryl, and Fenich, George. Casino Management: Past, Present, and Future, Second Edition. 305-320. Dubuque, Iowa: Kendall/Hunt Publishing Company, 1998. Kilby, Jim and Fox, Jim. Casino Operations Management. Wiley, New York, NY, 1998. Responsible Gaming: A Progress Report of the Gaming-Entertainment Industry. American Gaming Association, 1998.
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