Gaming and Casinos

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Gaming and Casinos
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History of Gaming

• Earliest recorded gaming dates to China in 2300BC
• Egyptian Pyramids Dice
• Greeks _at_ Troy
• Romans _at_ Christs Crucifixion
• Craps Played by Knights

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History of Gaming

• In the US Gaming ebbs flows
• Colonies lotteries cards
• Columbia, Dartmouth, Harvard, Yale partly
  funded by lotteries
• 1810 New Orleans
• 1910 Outlawed in the US

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History of Gaming

• 1931 Nevada restores gaming
• Reno Las Vegas
• 1935 Clubs began to appear
• 1946 the Flamingo Hotel Casino elegance
  entertainment
• Thirty years Las Vegas was the crown jewel of
  gaming

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History of Gaming

• 1976 Gaming approved in Atlantic City, NJ
• 1988 Indian Gaming Regulatory Act legal for
  Native Americans to open casinos on their
  properties in states where gambling is allowed.
  Foxwoods, CN, MN

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History of Gaming

• By 1997 six states had legalized riverboat gaming
  IL, IA, MO, MS, TN, KY
• FL, TX, GA cruises to nowhere
• Reinvention of Las Vegas
• 2001 only UT HI without

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Factors Contributing to Growth in Gaming

• Indian Gaming Regulatory Act of 1988
• Legalization of riverboat gambling
• Change in consumer attitude toward gambling
• Accessibility of gambling facilities
• Government needs for additional sources of taxes

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Gaming Operations

• Hotel operations are subordinate to gaming
  operations
• In the hotel business the GM is King
• In Casinos the President is King
• Mktg., Finance, Security, Admin., all report to
  the President
• FB is often separate

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Gaming Operations

• Entertainment FB take on greater importance in
  a Casino Hotel
• Gamblers travel on impulse
• Gamblers vs. social gamers
• 32 of US households gamble
• ½ Trillion dollars wagered annually
• Casino Hotel 20 rooms, 11 FB

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Casino Games

• Table Games
• Baccarat 8 decks vs. another player
• Blackjack/21 vs. house/rules 2.0
• Craps most exciting bet on the shooter 1.4
• Roulette 36 s 0 00 5.26

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Casino Games

• Slot Machines Most profitable from the casino
  point of view
• Atlantic City return 83
• Nevada return at least 75
• Loose slots 99
• Little labor involved

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Casino Terms

• Handle total amount bet or wagered
• Win net amount retained by the casino
  estimated at 48 billion/yr.
• Pit grouping of tables under one
  supervisor/manager
• Markers form used to extend credit to a guest
• Player a guest or client
• Cage Cashier cage where the chips and cash are
  stored
• Fill/Credit Slips Slips used to bring table
  banks to par

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Casino Employees

• Croupiers AKA Dealers
• Floor People Supervise Croupiers (two to four
  tables)
• Pit boss manages a group of tables or a game
• Games manager responsible for table games
• Shift Manager Responsible for all casino ops
  during a shift

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Casino Customers

• Grind Players gaming is entertainment
• High-end Players A different breed
• Casinos give them rebates, gifts, comp rooms,
  FB
• Whales highest of the high

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Casino Controls

• Lots of opportunity due to high level of cash and
  credit
• Multiple checks and balances
• Accounting Controls
• Equipment Controls Surveillance
• Human Controls
• Monitored by city, county, state, and federal
  governmental agencies