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51 Cards in this Set
- Front
- Back
What is gaming entertainment? What does it include? |
445 casinos in 11 states Commercial and Native American casinos Card rooms Charitable games Lottery-operated games Wagering on greyhound and horse races
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Approximately $______ is wagered or bet every year on games or races. |
$70 billion |
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What is a "handle?" |
A handle is the total amount of all bets by the consumer. |
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What is a "win?" |
A win is the net amount of spending by the consumer |
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What is the difference between gambling and gaming? |
Gambling is playing a game of risk for the thrill of the action and the chance of making money. Gaming entertainment refers to: - casino gaming business and all its aspects, including hotel operations, entertainment offerings, retail shopping, recreational activities, and other types of operations in addition to wagering on the gaming floor. |
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Describe gaming entertainment. |
Gaming entertainment is the business of hospitality and entertainment with a core strength in casino gaming, also known as the global hospitality - gaming - entertainment market. |
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What does gaming entertainment provide? |
Casino and games of risk (gambling) High-quality food and beverage Hotel rooms Live performances Theme park, theme rides, and museums Land-based and riverboats |
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Who is the guest? |
Increasing acceptance by all consumers 32% of U.S. households gamble in casinos Younger players White-collar jobs Wants total entertainment experience |
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What is the history of gaming? |
Precise origin unknown Ancient games of chance can be documented in China and Rome 17th century casino-style gaming clubs existed in England, Italy, and Central Europe The Bellevue opened August 10, 1901 |
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Why is Las Vegas important to the gaming industry? |
Mobster Mugsy Siegel influence Gambling legalized in 1931 From 1940 - 1978, Las Vegas monopolized gaming without hotel rooms or other forms of entertainment Gaming Control Board and Nevada Gaming Commission created |
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When did gambling move to New Jersey? |
Gambling legalized in NJ in 1976 Looked at gambling to invest capital, create jobs, pay taxes, and attract tourists Casino Control Act funded Casino Control Commission |
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What about Atlantic City? Who was important in its development? |
Donald Trump's role in Atlantic City casino industry Pennsylvania Slot Law Pennsylvania State Gambling Commission |
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How did Native American gambling get started? |
In 1987, the Supreme Court determined if a state has gaming, so can Native Americans 11% of all winnings are from Native American casinos Indian Gaming Regulatory Act (IGRA): - provides framework for games - defines different classes of gaming |
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Who are the Big Four Key Players in gaming? |
Caesar's Entertainment, Inc. MGM Grand, Inc. Harrah's Entertainment, Inc. Mandalay Resort Group |
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is What are "social gamblers?" |
Customers who play a game of risk as a form of entertainment and social activity, combining gambling with many other activities during their visit. |
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What makes the food offered by gaming special? |
Gaming entertainment is one of the last hospitality concepts to support the full-service, table-side gourmet restaurant, in addition to the lavish buffet offerings that many casino locations offer. |
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Describe some of the foodservice concepts offered by gaming. |
Signature restaurants featuring famous chefs, to ethic offerings, to quick-service, franchised outlets. |
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In lodging, gaming offers many amenities such as... |
Full-service hotels, including rooms, food and beverage, convention services, banquet facilities, health spas, recreation, and other typical hotel amenities. |
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What is a dockside casino? |
A casino on a barge that is moored in water and therefore, does not cruise. |
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What is meant by "cruises to nowhere?" |
Cruises where gaming and entertainment on board the ship are the main attraction. |
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What is the percentage of U.S. households that gamble in casinos? |
25% or 54.1 million U.S. households |
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How many visits do U.S. households make to casinos? |
319 million visits |
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What is the profile of a typical gaming entertainment guest? |
Casino players tend to have higher levels of income and education; more likely to hold white-collar jobs; younger and want the total entertainment experience |
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Two decades ago, gambling was permitted in only ________ states. Today, only two states, ______________ and _______________, do not permit some form of gambling. |
Two (2); Hawaii and Utah |
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What did Romans bet on? |
Romans would bet on chariot races, cockfights, and on dice throwing. Gambling was banned except during the winter festival of Saturnalia. |
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Why is Italy credited with the first gambling establishment in history? |
In 1626 in Venice, Italy a public gambling house was legalized for the first time. |
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What was the second gaming house to be legalized? |
In 1748 in Baden Baden, Germany opened a gaming house and it is still open today. |
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When did organized gaming casinos start to develop? |
In the first half of the nineteenth century |
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What is the most favorite vacation destination in the U.S. after Disney World? |
Las Vegas |
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Who is Benjamin Hymen Siegelbaum? |
Bugsy Siegel, born February 28, 1906 in Brooklyn, NY. |
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Why did Bugsy leave NY? |
After being one of the four men responsible for executing Joe "the Boss" Masseria, several years later he was sent west to develop rackets. |
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What were some of the affairs Bugsy was involved in? |
Gambling dens and ships, narcotics smuggling, blackmail, and other questionable operations; developing a nationwide bookmakers' wire service; built the Flamingo Hotel and Casino in Las Vegas costing $6 million |
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Why was Bugsy murdered? |
Bugsy skimmed profits from his rackets to make up losses from building the Flamingo hotel and his Eastern bosses had him killed for it. |
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In 1970, what was the state of Atlantic City? |
impoverished; high amounts of crime and poverty |
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Who authorized gambling in New Jersey? |
In 1976, New Jersey voters voted to approve gambling in Atlantic City; the Casino Control Act legalized gambling for the entire state of New Jersey. |
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What created the Casino Control Commission? |
The Casino Control Act created the Casino Control Commission to ensure the success and integrity of the Atlantic City casino industry, but also to revitalize the city's economic future. |
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How and why did Iowa legalize gambling? |
Iowa wanted similar benefits for its state that New Jersey had but without having land-based casinos, so it legalized gambling 13 years later, but only for riverboat casinos. |
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Which five state quickly legalized gambling after Iowa? |
Illinois, Mississippi, Louisiana, Missouri, and Indiana |
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Which gaming entertainment giant controls half of the Las Vegas strip? |
MGM Mirage |
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What is the Indian Gaming Regulatory Act of 1988 (IGRA)? |
The IGRA provides a framework for gaming at Native American casinos to protect Native Americans and the general public. |
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What are the three objectives of the IGRA? |
1. provide a statutory basis for the operation of gaming by Native American tribes as a means of promoting tribal economic development, self-sufficiency, and strong tribal governments;
2. provide a statutory basis for the regulation of gaming by a Native American tribe adequate to shield it from organized crime and other corrupting forces;
3. establish an independent regulatory authority, the National Indian Gaming Commission (NIGC), for governing gaming activity on Native American lands. |
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What are the three different kinds, or classes, of Native American gaming activities? |
1. Class 1 gaming - social games played solely for prizes of minimum value or traditional forms of Native American gaming; 2. Class 2 gaming - bingo, games similar to bingo, and card games explicitly authorized by laws of the state; 3. Class 3 gaming - all forms of gaming that are neither Class 1 or Class 2 |
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What is the fastest growing sector of casino gaming in the U.S.? |
Native American gaming - 354 gaming facilities on reservation lands in 28 states |
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Why is the gaming/entertainment industry growing so rapidly? |
Supply is starting to meet demand. Historically, there have not been enough opportunities for gaming. Now that more states are permitting gaming, more wagering opportunities exist. People like to wager! |
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What are some benefits of gaming? |
revitalizing economies through new capital investment, job creation, new tax revenue, and increased tourism |
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How much are typical gaming taxes? |
6.25 to 20 percent of gaming revenues |
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Which gaming entertainment company operates the world's largest hotel/casino? |
MGM Mirage - MGM Grand Hotel; more than 5000 rooms |
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What two companies have joined to become the largest casino operator in the world? |
Harrah's and Caesar's Entertainment |
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Where did Harrah's originate? |
In Reno, Nevada in the 1930's |
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What are common career opportunities in the gaming entertainment industry? |
Five initial career tracks are: hotel operations, food and beverage operations, casino operations, retail operations, and entertainment operations. |
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What is different in hotel operations in the gaming entertainment industry from the full-service hotel industry? |
The food and beverage can be a division of its own and not part of hotel operations. Rooms and guest services offers hospitality management students the most opportunities. |