Chapter 15 - Casinos. After completing this chapter, students will be able to: Describe the process of purchasing, receiving, storing and issuing fresh produce; create product specifications for fresh produce; provide examples of quality traits in several fresh produce items. | CASINOS Copyright © 2012 John Wiley & Sons, Inc. Photograph Courtesy of SuperStock Learning Objectives Identify the changing trends in and demographic profiles of the casino market. Identify the critical variables in determining a casino's profit potential. Identify potential solutions to financial problems faced by casinos. Identify the most important financial ratios relevant to casinos. Copyright © 2012 John Wiley & Sons, Inc. Identify the changing trends in and demographic profiles of the casino market. . Gaming Market 2009 - 948 casinos in the United States Gross gaming revenues of over $62 billion Four categories of casino tribal casinos (located on Indian reservations) land-based casinos riverboat casinos racinos (horse or greyhound racetracks that have casinos) Copyright © 2012 John Wiley & Sons, Inc. China In 2000 concessions for the gaming industry in China were liberalized. By 2004 revenue from gaming in Machau surpassed that of Las Vegas. There are 2 casinos in Machau . | CASINOS Copyright © 2012 John Wiley & Sons, Inc. Photograph Courtesy of SuperStock Learning Objectives Identify the changing trends in and demographic profiles of the casino market. Identify the critical variables in determining a casino's profit potential. Identify potential solutions to financial problems faced by casinos. Identify the most important financial ratios relevant to casinos. Copyright © 2012 John Wiley & Sons, Inc. Identify the changing trends in and demographic profiles of the casino market. . Gaming Market 2009 - 948 casinos in the United States Gross gaming revenues of over $62 billion Four categories of casino tribal casinos (located on Indian reservations) land-based casinos riverboat casinos racinos (horse or greyhound racetracks that have casinos) Copyright © 2012 John Wiley & Sons, Inc. China In 2000 concessions for the gaming industry in China were liberalized. By 2004 revenue from gaming in Machau surpassed that of Las Vegas. There are 2 casinos in Machau where 60 percent of the revenue comes from VIP or ‘high roller’ visitors. Electronic and slot machine gambling accounts for only five percent of total gaming revenue compared to half in Las Vegas. This is seen as an area of potential massive growth. Copyright © 2012 John Wiley & Sons, Inc. Changing Trends From Casinos to Resorts Casinos have two general objectives: extending the length of stay for on-site guests, and broadening the appeal in order to increase the potential market. First phase: Casino serving a local market Las Vegas needed to become a destination because it had virtually no local market to rely on. In its first growth stage, Las Vegas attracted local customers simply because of the legalized gambling, but that was not enough to promote additional growth. Copyright © 2012 John Wiley & Sons, Inc. Changing Trends Second phase: Increased competition from other locations After the legalization of tribal gambling and gambling in other states, Las Vegas lost its virtual .
