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Gambling Operations
First Research, Aug 2009, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US gambling, or gaming, industry consists of about 500 commercial casinos and 160 Indian casinos, with combined annual revenue close to $85 billion. Companies with large casino operations include MGM MIRAGE and Harrah’s Entertainment. About $35 billion of annual revenue is taken in by commercial casinos, $20 billion by state lotteries, about $25 billion by Indian casinos, and the rest by horse racing, bingo, charities, and bookmaking. (For gambling companies, 'revenue' is the total amount bet minus winnings paid to gamblers.) Most casinos are small, limited by the size of the surrounding population. The industry is concentrated: the top 20 companies hold more than 60 percent of the market.
COMPETITIVE LANDSCAPE
Growth in consumer income and state spending has driven expansion of the US gambling industry. The profitability of individual companies depends on efficient operations and effective marketing. Large operators have the financial resources to make large investments in facilities and efficient computer operations, and have cross-marketing opportunities. Small gambling facilities can thrive by catering to a local clientèle. The industry is fairly labor-intensive: annual revenue per employee is $90,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Gaming operators mainly provide a place or a means to play games of chance, where the odds of winning favor the 'house.” Popular casino games are slot machines (slots); video poker; and a variety of table games such as roulette, baccarat, Black Jack, and craps (dice). The house ...
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