Sands Hotel
Sands Hotel and Casino Analysis
JoLynn Dorman In 1976 the voters amended their state’s constitution to allow gambling in Atlantic City. To regulate the new industry, the New Jersey Casino Control Commission (NJCCC) was established. They established a comprehensive set of regulations to be followed by the casino’s to ensure the state received all revenues they were entitled to. The gaming industry opened in 1978, Atlantic City had nine large casinos operating by 1982. The Sands Hotel and Casino operated under the Great Bay Casino Corporation with a gross revenue of $184 million, $144 million of that revenue came from the gaming operations. The finance staff was large with approximately 2,600 people in the organization and over 400 were in the finance department. The Sands had over 1,000 gaming devices slots, blackjack, crap tables, roulette wheels and baccarat tables, 930 people were employed in the casinos operations. Controls in the casino are cash movement and operations at the casino game tables. The cash and cash equivalents have three main elements; individual accountability, formal procedures and controls over count rooms. Individual accountability means that personnel are held accountable for the specific amount of cash they are in charge of. If shortages or other problems persistent problem continue it is ground for dismissal. Formal procedures consist of personnel signing of on opener slips, counter check, fill slips all are signed at certain times during the movement of cash. A computer keeps track of the time the money is transferring from the fill cashier to the dealer, if the time on the floor is too long the computer notifies security. The count room’s security is tight, with supervision at all time to ensure no money is being stolen. Count rooms are equipped with a metal door, alarm, closed-circuit television cameras and audio and video taping capabilities. The blackjack dealers are at the bottom of the organizational chart. They are supervised
JoLynn Dorman In 1976 the voters amended their state’s constitution to allow gambling in Atlantic City. To regulate the new industry, the New Jersey Casino Control Commission (NJCCC) was established. They established a comprehensive set of regulations to be followed by the casino’s to ensure the state received all revenues they were entitled to. The gaming industry opened in 1978, Atlantic City had nine large casinos operating by 1982. The Sands Hotel and Casino operated under the Great Bay Casino Corporation with a gross revenue of $184 million, $144 million of that revenue came from the gaming operations. The finance staff was large with approximately 2,600 people in the organization and over 400 were in the finance department. The Sands had over 1,000 gaming devices slots, blackjack, crap tables, roulette wheels and baccarat tables, 930 people were employed in the casinos operations. Controls in the casino are cash movement and operations at the casino game tables. The cash and cash equivalents have three main elements; individual accountability, formal procedures and controls over count rooms. Individual accountability means that personnel are held accountable for the specific amount of cash they are in charge of. If shortages or other problems persistent problem continue it is ground for dismissal. Formal procedures consist of personnel signing of on opener slips, counter check, fill slips all are signed at certain times during the movement of cash. A computer keeps track of the time the money is transferring from the fill cashier to the dealer, if the time on the floor is too long the computer notifies security. The count room’s security is tight, with supervision at all time to ensure no money is being stolen. Count rooms are equipped with a metal door, alarm, closed-circuit television cameras and audio and video taping capabilities. The blackjack dealers are at the bottom of the organizational chart. They are supervised