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Strengths

Small gambling facilities can thrive by catering to local residents, who may not be able to afford to travel to large scale gambling centers. Strong management can help casino reach its potential by utilizing the strengths and eliminating the weakness. To attract and retain customers, some casino companies operate casino hotels that can accommodate large numbers of guests and that contain a variety of entertainment, restaurants, and retail stores in addition to the casino. Whether you hit the card tables, craps, roulette or slot machines you know you will be expecting great attention and a positive attitude no matter what. Major growth is taking place in the online gaming sector. Country like Australia has a thriving gaming industry that includes casinos, lotteries, sports betting, and various forms of racing. State operate a variety of state lottery games that are specific laudable social spending projects, like education.

The cash that casinos generate makes it possible to package them spectacularly. In Las Vegas and Macau, replicas of Venice complete with canals and gondoliers surround massive gaming floors. Las Vegas has shows that rival Broadway, clubs that stack up to nightspots anywhere, more celebrity chefs and designer labels than Paris, state of the art convention halls, shopping malls and arenas. Even embattled Atlantic City boasts an idealized version of old Havana. The overriding goal: bring people to the property to gamble.

Weakness

A weak supply chain can delay the arrival of products to Casino’s customers. A lack of scale means product cost per unit of output is very high. Increasing volume, while maintain quality, would help reduce those costs. Internet gambling especially online poker has enjoyed a rise in popularity despite federal laws. Expansion of Asian casino gambling markets could put additional competitive pressure on the rest of the global industry. Many casinos offer markers or personal warranties that customers are good for their debts. Although most customers must settle up before they leave the casino, some companies may make allowances for certain players. In many states gambling casino must be operated on riverboats. State regulators must approve all games played, but gabling operators are free to set the odds of winning a particular game. Like in Singapore’s casinos operate under restrictions, most notably a 100 Singapore dollar (US$80) entry fee for Singapore residents and a virtual ban on junket promoters that provide credit and other services to high rollers, especially those from mainland China. So Singapore’s two casino properties, which the government dubbed integrated resorts (IRs), are forced to make their non-gaming facilities pay off.

Opportunities

New games and models are cosmetic variations on existing games; new games of chance are being introduced. Wide Area Progressive Gambling System is more profitable to the house market. Frequent Gambler Rewards Programs in the industry has been driven partly by operators desire to market multiple gambling locations. The explosion of casino and other gambling operations on Indian reservation has created opportunities for existing companies to sell their operating skills. Rapid gambling revenue growth is Macau in recent years has prompted other countries in Asia/Pacific region to consider the liberation or expansion of gambling laws. Growth in interactive gaming could mean additional revenue for traditional casino operators that offer online games under established brands. Interactive gambling expansion could also mean new growth opportunities for other markets. When Singapore decided to allow casinos, it had two big wants: a top notch theme park and a world class convention center. Resorts World Sentosa signed on Universal Studios as part of its bid for a casino license. In August, the park’s 15millionth guest since its March 2010 opening crossed the threshold. At the end of 2012, the resort added Marine Life Park, which includes a water park and aquarium along with a maritime museum. Last year, the resort counted 6.7 million visitors at its attractions. Casinos are pampering in nature, customers will always be the main priority of the staff and this comes with a very neat set of complimentary treats. Most times your drinks are on the house, you will be invited to the buffet and with time these gifts may reach free accommodation, tours and about anything you can imagine.

Threats

A threat to casinos at present is that the change of leadership in the management. The unpredictability and the fact that the revenue is growing more slowly are creating major budgeting challenges for states and make key investment a challenge. They are required to guarantee that this will not affect the sales of its services. Another less direct threat to casinos is that there have not been sufficient finances put into service improvements, from where prospective players would have to be satisfied. Nonetheless, casinos have spent in online casino games to significantly broaden their operations. Slot floors are becoming totally cashless through the use of ticket in and ticket out technology. This server based games allow casino operators to make changes to any slot machine on the floor through a central secure computer server. Casinos are also embedding RFID devices in their chips to improve security and track players. Since voters have expanded gambling on tribal lands that have been slowly squeezing out their competition across the country and by building increasingly elaborate and exceedingly accessible gambling centers along the major freeways and highways. The results are a prolonged slump for some gambling towns like in Reno, Nevada. If this continues it could have an effect nationwide.

References

Gambling, (2014, November 17), First Research, Retrieved January 25, 2015, from http://mergent.firstresearch-learn.com.ezproxy.apollolibrary.com/industry_full.aspx?pid=140

Cohen, M. (2014, October 12). Gaming Barriers Push Singapore Casinos To Higher Margin Revenue. Retrieved January 27, 2015, from http://www.forbes.com/sites/muhammadcohen/2014/10/20/gaming-barriers-push-singapore-casinos-to-higher-margin-revenue/

Sedlak, S. (2011, August 23). Why are casinos so popular? Top 5 reasons why casinos rock! Retrieved from http://www.slotsofvegas.com/top-lists/why-are-casinos-so-popular-top-5-reasons-why-casinos-rock-1895.php