Chapter 11: Gaming Entertainment

blackjack

A table game in which the winning hand is determined by whether the dealer or the player gets cards that add up to a number closest to or equal to 21 without going over.

Bugsy Siegel

American Gangster who was the driving force behind the large-scale development of Las Vegas Valley. Created the Flamingo Hotel

one of the fastest growing sectors in the gaming entertainment industry

Native American gaming

types of casino operations

Nevada-style gaming tavern (bar and restaurant with slot machines, etc.), casino resort, stand-alone casinos, slot parlor, bingo parlors, riverboats, cruise ship casinos

Casino Control Act

New Jersey law which legalized gambling, created Casino Control Commission (ensure integrity of casino industry and improving economy)

dual rate

employee that holds two jobs simultaneously

casino operations staff

engineers, security, purchasing

social gambling

events that include weddings, engagement parties, and holiday functions; gamblers bet against each other so each has the same chance of winning ex. poker, dominoes

sustainability in gaming entertainment

ex. Caesars Entertainment Corporation and Delaware North's Daytona property

El Rancho Vegas

first casino resort on what would become the Las Vegas Strip; spas, fine dining, entertainment, and gambling; superior to gambling halls b/c have diverse amenities for travellers other than gamblers and encouraged gamblers to stay longer

first base

first seat on the dealer's left from the dealer's perspective

difference between gaming and nongaming hotels

gaming hotels have many more departments and more executive positions in F&B department; have casinos/gaming; size and scope is very broad; guests tend to be younger, better educated, and have higher income levels than the average traveler

property president

general manager responsible for day-to-day operations of casino

gambling win

handle minus the money paid out on winning bets; profit for the casino

casinos can be located on

indian reservations or riverboats

counting cards

is legal, but changes the odds and decreases the house advantage, player may be asked to back off

Trends in The Gaming Entertainment Industry

loyalty player smartcards, universal gaming machines, millennial and generation x gamblers (more entertainment, tech savvy, less brand loyalty, more complex games, and social media), candid sky camera technology (security), emerging markets (Asia), more dependence on other departments besides gambling, close scrutiny by federal gov't

"21" Card Game

table has a felt cover called the layout, layout has different player positions stenciled on it to show where the bets are to be placed, normally 7 players, *plastic red shoe* holds up to 8 decks of the cards to be dealt, dealer draws cards from the window, chip rack tray is made of heavy brass, chips arranged from lowest value on outside rows to highest on inside, typical rack contains $15000-$20000 in chips, slit in the table is for the drop, drop box is made of metal and secured underneath slit, when a customer asks to exchange currency for chips the dealer lays the bills across the slit and pushes the bills with a plastic paddle into it, drop team takes drop boxes to vault to count money

house edge

the advantage that a casino has over time as players play casino games

the gaming entertainment industry is regulated by

the federal gov't

hold percentage

the percentage of the total handle that is retained as win

the handle

total amount of money bet at a game

surveillance officer

watch live feed monitors for unsafe conditions, cheating, stealing; don't use employees already working at casino to avoid collusion

taking a shot

when a player tries to cheat

collusion

when employees team up with each other to steal

how does a surveillance officer know that a player is counting cards?

when they observe the player changing their bets in accordance with the count

beat the house

winning more than they lose from a casino

most popular table game

blackjack

gaming industry positions

dealer, slot attendant, marketing director, casino surveillance, guest service technology positions, croupier, section supervisor, assistant section manager, game manager, floor manager, casino manager, jobs in entertainment venues, retail, F&B, race and sports books, convention facilities, nightclub, pool + spa

gaming operations staff

slot machine technicians, table-game dealers, table-game supervisors, buyer, pit boss

bulk of revenue produced in casinos comes from

slot machines

craps

A dice game where players bet on the outcome of the roll or a series of rolls of a pair of dice.

surveillance cameras

1. Pan, tilt, zoom, or PTZ cameras (can be aimed with a joystick and magnified, 360 degrees, dark bubbles, expensive) and fixed cameras (less expensive) 2. each monitor has quad technology so that four cameras can be fed to one monitor 3. new digital technology allows everything recorded by a camera to go to the hard drive of a computer (easier to look up footage, better than videotapes)

history of modern casinos

1. gambling dates back to 2300 BCE; Ancient Romans were gamblers through chariot races, cockfights, etc. 2. 17th century: casino-style gaming clubs were in England and Central Europe; upper class organized gambling; first legal public gambling in casinos in Italy in 1638 3. American gaming entertainment business started in LA after it was legalized in 1931 4. modern casinos started in 1941 with El Rancho Vegas in LA 5. Atlantic City, New Jersey used gambling to revamp economy 6. wanting similar benefits, Iowa legalized riverboat casinos in 1990s and other states followed suit 7. gambling on Indian reservations became popular, racinos have been created (horse race casinos), cities like Detroit legalized casinos for tourism, Asia has become a market for gambling

components of modern casino hotels

1. games: slots, table games (roulette, blackjack), race and sports books, poker rooms, live keno games 2. lodging 3. F&B 4. entertainment venues ex. theaters 5. retail shopping 6. convention facilities 7. nightclubs 8. pool and spa facilities with DJs

casino operations

1. gaming operations (slot machine technicians, table-game dealers, table-game supervisors) 2. casino service staff (security, purchasing, and engineers) 3. marketing (public relations, market research, etc.) 4. human resources 5. finance and administration (lawyers, accounts payable, audit, payroll, etc.)

Indian Gaming Regulatory Act (1988)

1. provide a statutory basis for operation of gaming by Native American tribes to promote tribal economic development 2. provide a statutory basis for regulation of gaming by Native American tribes to protect against organized crime/corruption 3. establish National Indian Gaming Commission to govern gaming across US 4. defines three class of Native American gaming (Class 1 = social games for prizes of min value, Class 2 = bingo, Class 3 = casino games) *gov'ts response to CA v. Cabazon supreme court case, to allow regulation while supporting sovereignty of tribes, agreements between states and tribes*

cashier cage

The location on the casino floor where cash and chips are exchanged.

pit boss

reports directly to the casino shift manager and is responsible for clusters of tables (about a dozen games)

table games

roulette, blackjack, craps, and baccarat

poker

a card game in which participants play against each other instead of the casino

casino resort

a facility that includes gaming entertainment, hotel accommodations, and/or food and beverage venues

Las Vegas Strip

a stretch of area in Las Vegas known for international casinos and casino resorts

roulette

a traditional table game in which a dealer spins a wheel and players wager on which number a small ball will fall

baccarat

a traditional table game in which the winning hand totals closest to nine

dealers must be able

add cards correctly, accurately pays off winning bets, basic knowledge of game protection, smile, good customer service, don't offer advice but can tell players the basic strategy recommended, letting players vent until they call supervisor to talk to irate players, covering window with hand except when removing a card, deal cards face up and don't allow players to touch them

gaming entertainment

casino gaming and all its aspects like hotel operations, retail shopping, F&B, etc.

five types of legal gaming in US

charitable gaming, commercial casinos (account for 36% of gaming revenue, most popular), lotteries, Native American gaming, and parimutuel gaming

mercantile gambling

commercial gambling; players bet against "the house" (organization or professional gambler); advantage for the casino (house edge)

comps

complimentary goods and services offered to casino patrons in order to attract their business

Gaming Control Board

created in 1950s to regulate gambling as its popularity grew in Nevada

employee safety procedures

must clear hands (wipe twice, extend in front, spread fingers, and rotate hands twice) when leaving work station to ensure they aren't palming a chip; cashiers must lay out cash on the counter and place chips they are issuing in that area

Mirage Effect

non-gaming operations become more central to casino resorts' bottom line as other parts of the resorts become more popular and attract a younger, wider market; rooms, headliner concerts, shopping malls, nightclubs

CA v Cabazon Band of Mission Indians

once state has legalized any form of gambling, Native Americans in the state can offer and self-regulate the same games without gov't restrictions

table games supervisor

oversee 5-8 table games in a pit; start off as dealers;

ways players cheat

peaking cards, marking cards by nicking (with ring) or daubing (smudging with greasy substance), counting cards; if suspected dealer will call supervisor who will have surveillance monitor them and if so then they will be asked to leave or "back them off"

Base 2 on table C-3 in Pit #6

person sitting at the 2nd seat from the left of the dealer at the craps table #3 in pit #6

gambling

playing a game of risk for the thrill of the action and the chance of making money; act of placing stakes on an unknown outcome with the possibility of securing a gain if the bettor guesses correctly; must have something wagered (bet), a randomizing event (dice), and a payoff; two types are social gambling and mercantile gambling

internal audits and surveillance departments report directly to the ___ of the casino

president

loyalty programs

programs used to reward loyal patrons; gives comps to loyal members; most have tiered rewards structures