A casino is a facility for certain types of gambling. Casinos are often built near or combined with hotels, resorts, restaurants, retail shopping, cruise ships, and other tourist attractions. Some casinos are also known for hosting live entertainment, such as stand-up comedy, concerts, and sports.
Casino is of Italian origin; the root casa means a house. The term casino may mean a small country villa, summerhouse, or social club.During the 19th century, casino came to include other public buildings where pleasurable activities took place; such edifices were usually built on the grounds of a larger Italian villa or palazzo, and were used to host civic town functions, including dancing, gambling, music listening, and sports. Examples in Italy include Villa Farnese and Villa Giulia, and in the US the Newport Casino in Newport, Rhode Island. In modern-day Italian, a casino is a brothel (also called casa chiusa, literally "closed house"), a mess (confusing situation), or a noisy environment; a gaming house is spelt casinò , with an accent.
Not all casinos are used for gaming. The Catalina Casino, on Santa Catalina Island, California, has never been used for traditional games of chance, which were already outlawed in California by the time it was built.The Copenhagen Casino was a Danish theatre which also held public meetings during the 1848 Revolution, which made Denmark a constitutional monarchy.
In military and non-military usage, a casino (Spanish) or Kasino (German) is an officers' mess.
The precise origin of gambling is unknown. It is generally believed that gambling in some form or another has been seen in almost every society in history. From the Ancient Greeks and Romans to Napoleon's France and Elizabethan England, much of history is filled with stories of entertainment based on games of chance.
The first known European gambling house, not called a casino although meeting the modern definition, was the Ridotto, established in Venice, Italy, in 1638 by the Great Council of Venice to provide controlled gambling during the carnival season. It was closed in 1774 as the city government felt it was impoverishing the local gentry.
In American history, early gambling establishments were known as saloons. The creation and importance of saloons was greatly influenced by four major cities: New Orleans, St. Louis, Chicago and San Francisco. It was in the saloons that travelers could find people to talk to, drink with, and often gamble with. During the early 20th century in America, gambling was outlawed by state legislation. However, in 1931, gambling was legalized throughout the state of Nevada, where America's first legalized casinos were set up. In 1976 New Jersey allowed gambling in Atlantic City, now America's second largest gambling city.[ citation needed ]
Most jurisdictions worldwide have a minimum gambling age of 18 to 21.
Customers gamble by playing games of chance, in some cases with an element of skill, such as craps, roulette, baccarat, blackjack, and video poker. Most games have mathematically determined odds that ensure the house has at all times an advantage over the players. This can be expressed more precisely by the notion of expected value, which is uniformly negative (from the player's perspective). This advantage is called the house edge . In games such as poker where players play against each other, the house takes a commission called the rake. Casinos sometimes give out complimentary items or comps to gamblers.
Payout is the percentage of funds ("winnings") returned to players.
Casinos in the United States say that a player staking money won from the casino is playing with the house's money.
Video Lottery Machines (slot machines) have become one of the most popular forms of gambling in casinos. As of 2011 [update] investigative reports have started calling into question whether the modern-day slot-machine is addictive.
Casino design—regarded as a psychological exercise—is an intricate process that involves optimising floor plan, décor and atmospherics to encourage gambling.
Factors influencing gambling tendencies include sound, odour and lighting. Natasha Dow Schüll, an anthropologist at the Massachusetts Institute of Technology, highlights the decision of the audio directors at Silicon Gaming to make its slot machines resonate in "the universally pleasant tone of C, sampling existing casino soundscapes to create a sound that would please but not clash".
Alan Hirsch, founder of the Smell & Taste Treatment and Research Foundation in Chicago, studied the impact of certain scents on gamblers, discerning that a pleasant albeit unidentifiable odor released by Las Vegas slot machines generated about 50% more in daily revenue. He suggested that the scent acted as an aphrodisiac, causing a more aggressive form of gambling.
The following lists major casino markets in the world with casino revenue of over US$1 billion as published in PricewaterhouseCoopers's report on the outlook for the global casino market:
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|3||Europe, Middle East, Africa||17,259||16,186||16,452|
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|Revenue (US$M)[ out of date ]|
According to Bloomberg, accumulated revenue of the biggest casino operator companies worldwide amounted to almost US$55 billion in 2011. SJM Holdings Ltd. was the leading company in this field, earning $9.7 bn in 2011, followed by Las Vegas Sands Corp. at $7.4 bn. The third-biggest casino operator company (based on revenue) was Caesars Entertainment, with revenue of US$6.2 bn.
While there are casinos in many places, a few places have become well known specifically for gambling. Perhaps the place almost defined by its casino is Monte Carlo, but other places are known as gambling centers.
Monte Carlo Casino, located in Monte Carlo city, in Monaco, is a casino and a tourist attraction.
Monte Carlo Casino has been depicted in many books, including Ben Mezrich's Busting Vegas , where a group of Massachusetts Institute of Technology students beat the casino out of nearly $1 million. This book is based on real people and events; however, many of those events are contested by main character Semyon Dukach.Monte Carlo Casino has also been featured in multiple James Bond novels and films.
The casino is mentioned in the song "The Man Who Broke the Bank at Monte Carlo" as well as the film of the same name.
Casinò di Campione is located in the tiny Italian enclave of Campione d'Italia, within Ticino, Switzerland. The casino was founded in 1917 as a site to gather information from foreign diplomats during the First World War. Today it is owned by the Italian government, and operated by the municipality. With gambling laws being less strict than in Italy and Switzerland, it is among most popular gambling destination besides Monte Carlo. The income from the casino is sufficient for the operation of Campione without the imposition of taxes, or obtaining of other revenue. 55,000 square metres (590,000 sq ft), making it the largest casino in Europe. The new casino was built alongside the old one, which dated from 1933 and has since been demolished.In 2007, the casino moved into new premises of more than
The former Portuguese colony of Macau, a special administrative region of the People's Republic of China since 1999, is a popular destination for visitors who wish to gamble. [ citation needed ] The Venetian Macao is currently the largest casino in the world. Macau also surpassed Las Vegas as the largest gambling market in the world.This started in Portuguese times, when Macau was popular with visitors from nearby British Hong Kong, where gambling was more closely regulated.
Machine-based gaming is only permitted in land-based casinos, restaurants, bars and gaming halls, and only subject to a licence. Online slots are, at the moment, only permitted if they are operated under a Schleswig-Holstein licence. AWPs are governed by federal law – the Trade Regulation Act and the Gaming Ordinance.
The Casino Estoril, located in the municipality of Cascais, on the Portuguese Riviera, near Lisbon, is the largest casino in Europe by capacity.
During the Second World War, it was reputed to be a gathering point for spies, dispossessed royals, and wartime adventurers; it became an inspiration for Ian Fleming's James Bond 007 novel Casino Royale .
Singapore is an up-and-coming destination for visitors wanting to gamble, although there are currently only two casinos (both foreign owned), in Singapore. The Marina Bay Sands is the most expensive standalone casino in the world, at a price of US$8 billion, and is among the world's ten most expensive buildings. The Resorts World Sentosa has the world's largest oceanarium.
With currently over 1,000 casinos, the United States has the largest number of casinos in the world. The number continues to grow steadily as more states seek to legalize casinos. 40 states now[ when? ] have some form of casino gambling. Relatively small places such as Las Vegas are best known for gambling; larger cities such as Chicago are not defined by their casinos in spite of the large turnover.
The Las Vegas Valley has the largest concentration of casinos in the United States. Based on revenue, Atlantic City, New Jersey ranks second, and the Chicago region third.
Top American casino markets by revenue (2015 annual revenues):
The Nevada Gaming Control Board divides Clark County, which is coextensive with the Las Vegas metropolitan area, into seven market regions for reporting purposes.
Native American gaming has been responsible for a rise in the number of casinos outside of Las Vegas and Atlantic City.
Given the large amounts of currency handled within a casino, both patrons and staff may be tempted to cheat and steal, in collusion or independently; most casinos have security measures to prevent this. Security cameras located throughout the casino are the most basic measure.
Modern casino security is usually divided between a physical security force and a specialized surveillance department. The physical security force usually patrols the casino and responds to calls for assistance and reports of suspicious or definite criminal activity. A specialized surveillance department operates the casino's closed circuit television system, known in the industry as the eye in the sky. Both of these specialized casino security departments work very closely with each other to ensure the safety of both guests and the casino's assets, and have been quite successful in preventing crime.Some casinos also have catwalks in the ceiling above the casino floor, which allow surveillance personnel to look directly down, through one way glass, on the activities at the tables and slot machines.
When it opened in 1989, The Mirage was the first casino to use cameras full-time on all table games.
In addition to cameras and other technological measures, casinos also enforce security through rules of conduct and behavior; for example, players at card games are required to keep the cards they are holding in their hands visible at all times.
Over the past few decades, casinos have developed many different marketing techniques for attracting and maintaining loyal patrons. Many casinos use a loyalty rewards program used to track players' spending habits and target their patrons more effectively, by sending mailings with free slot play and other promotions.
Casinos have been linked to organised crime, with early casinos in Las Vegas originally dominated by the American Mafiaand in Macau by Triad syndicates.
According to some police reports, local incidence of reported crime often doubles or triples within three years of a casino's opening.In a 2004 report by the US Department of Justice, researchers interviewed people who had been arrested in Las Vegas and Des Moines and found that the percentage of problem or pathological gamblers among the arrestees was three to five times higher than in the general population.
It has been said that economic studies showing a positive relationship between casinos and crime usually fail to consider the visiting population: they count crimes committed by visitors but do not count visitors in the population measure, which overstates the crime rate. Part of the reason this methodology is used, despite the overstatement, is that reliable data on tourist count are often not available.
There are unique occupational health issues in the casino industry. The most common are from cancersresulting from exposure to second-hand tobacco smoke and musculoskeletal injury (MSI) from repetitive motion injuries while running table games over many hours.
The economy of Macau has remained one of the most open in the world since its handover to China in 1999. Apparel exports and gambling-related tourism are mainstays of the economy. Since Macau has little arable land and few natural resources, it depends on mainland China for most of its food, fresh water, and energy imports. Japan and Hong Kong are the main suppliers of raw materials and capital goods. Although Macau was hit hard by the 1997–98 Asian financial crisis and the global downturn in 2001, its economy grew approximately 13.1% annually on average between 2001 and 2006. Macau is a full Member of the World Trade Organization. Public Security has greatly improved after handover to People's Republic of China. With the tax revenue from the profitable gambling industry, the Macau government is able to introduce the social welfare program of 15 years of free education to all Macau citizens. In 2015, Macau's economy saw a sharp decrease due to the reduced spending by visitors from Mainland China since Anti-corruption campaign under Xi Jinping.
Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's son, Bill Boyd, who currently serves as the company's executive chairman after retiring as CEO in January 2008.
MGM Resorts International is an American global hospitality and entertainment company operating destination resorts in Las Vegas, Detroit, Mississippi, Maryland, and New Jersey, including Bellagio, Mandalay Bay, MGM Grand, and Park MGM. In January 2019 the company took over Empire City Casino in Yonkers, New York, and also opened MGM National Harbor in Maryland and MGM Springfield in Massachusetts. The company has a majority interest in MGM China Holdings Limited, which owns the MGM Macau resort and casino, and is developing a gaming resort in Cotai. MGM Resorts owns 50 percent of CityCenter in Las Vegas, which features Aria Resort & Casino. It has a majority controlling interest in MGM Growth Properties, a real estate investment trust.
Mirage Resorts was an American company that owned and operated hotel-casinos. It was acquired by MGM Grand, Inc. in 2000, forming MGM Mirage.
Gambling in Macau has been legal since the 1850s when the Portuguese government legalised the activity in the autonomous colony. Since then, Macau has become known worldwide as the "Gambling capital of the world" or "Monte Carlo of the East".
Mandalay Resort Group was an American hotel and casino operator based in Paradise, Nevada. Its major properties included Mandalay Bay, Luxor, Excalibur and Circus Circus, as well as half of the Monte Carlo. In terms of market capitalization, it was one of the largest casino operators in the world. Its stock traded on the New York Stock Exchange with the ticker symbol "CIR" and "MBG".
Park MGM, formerly Monte Carlo Resort and Casino, is a megaresort hotel and casino on the Las Vegas Strip in Paradise, Nevada, United States. The hotel, with a height of 360 ft (110 m), has 32 floors, including a 102,000-square-foot (9,500 m2) casino floor with 1,400 slot machines, 60 table games, and 15 poker tables. It is owned and operated by MGM Resorts International. The hotel offers 2,992 guest rooms, including 259 luxury suites. The Monte Carlo was converted into Park MGM between late 2016 and 2018, with the upper floors being converted into a boutique hotel, NoMad Las Vegas.
Las Vegas Sands Corporation is an American casino and resort company based in Paradise, Nevada, United States. Its resorts feature accommodations, gaming and entertainment, convention and exhibition facilities, restaurants and clubs, as well as an art and science museum in Singapore.
Tourism is a major industry in Macau. It is famous for the blend of Portuguese and Chinese cultures and its gambling industry, which includes Casino Lisboa, Macau, Sands Macau, The Venetian Macao, and Wynn Macau.
Wynn Resorts, Limited is an American publicly traded corporation based in Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was founded in 2002 by former Mirage Resorts Chairman and CEO Steve Wynn, and is now run by CEO Matthew Maddox. As of 2020, the company has developed six properties. Most notably, its flagship Wynn Las Vegas and Encore Las Vegas have each earned Five-Star status on the 2020 Forbes Travel Guide (FTG) Star Rating list and are now the largest and second largest FTG Five-Star resorts in the world, respectively. Wynn Palace, originally earning FTG Five-Star status in 2018, is the third largest.
Sands Macao is a hotel and casino resort located in Sé, Macau, China. It is owned and operated by the Las Vegas Sands Corporation, and was designed by Steelman Partners, LLP. It comprises a 229,000 square feet (21,300 m2) casino, and a 289-suite hotel.
Cotai is a 5.2 square kilometers (2.0 sq mi) piece of newly reclaimed land on top of Seac Pai Bay between Taipa and Coloane islands in Macau, that has made two independent islands become one island, since 2005. The word can also refer to the entire new island which was formed by the reclamation. In the second sense, the Special Administrative Region of Macau now consists of the Macau Peninsula plus Cotai Island, about a mile to the south.
The Venetian Macao is a luxury hotel and casino resort in Macau owned by the American Las Vegas Sands company. The Venetian is a 39-story, casino hotel on the Cotai Strip in Macau. The 10,500,000-square-foot (980,000 m2) Venetian Macao is modeled on its sister casino resort The Venetian Las Vegas. The Venetian Macao is the largest casino in the world, the largest single structure hotel building in Asia, and also the seventh-largest building in the world by floor area.
The Cotai Strip is a term coined by Las Vegas Sands Corporation with regard to its building of a strip of hotel-casinos in the Cotai section of Macau, a special administrative region of the People's Republic of China. Cotai was the result of a major land reclamation project which joined the two islands of Coloane and Taipa, and is part of the Macau government's continuous efforts to expand the region's territory. The reclaimed land in Cotai is to be mainly used for casino developments and Las Vegas Sands Corporation envisioned that their development of several adjacent properties would comprise an area that would resemble the Las Vegas Strip, albeit on a considerably smaller scale. Over the past decade, the layout of the Cotai Strip has also slowly developed into a grid like layout with major hotels and casinos built not directly connected to the 'strip' as opposed to Las Vegas strip with the majority of major hotels and casinos with front access to the Las Vegas strip.
Mobile gambling refers to playing games of chance or skill for money by using a remote device such as a tablet computer, smartphone or a mobile phone with a wireless internet connection. Over a hundred mobile casinos were operating as of December 2013, with most of the big casino operators in gambling now providing a mobile platform for their player base.
The Wind Creek Bethlehem is a casino hotel located in the Bethlehem Works development site in Bethlehem, Pennsylvania, in the Lehigh Valley region of eastern Pennsylvania, in the United States. It is owned and operated by Wind Creek Hospitality, an entity of the Poarch Band of Creek Indians.
Bally Manufacturing, later renamed Bally Entertainment, was an American company that began as a pinball and slot machine manufacturer, and later expanded into casinos, video games, health clubs, and theme parks. It was acquired by Hilton Hotels in 1996. Its brand name is still used by several businesses previously linked to Bally Manufacturing, most notably Bally Technologies.
The LV Strip is one of the designated Nevada Gaming Control Boards reporting areas. It consists of the Las Vegas Strip casinos and many of the surrounding casinos. The Strip earns roughly 50% of the gaming revenue from all sources for the state of Nevada.
Paul Curtis Steelman, a native of Atlantic City, New Jersey, is an American architect who is recognized as a designer of global entertainment, hospitality, and gaming architecture based in Las Vegas, Nevada and Macau. Paul has designed buildings for the mavericks of the gaming industry, including Kirk Kerkorian, Steve Wynn, Sheldon Adelson, Francis Lui, Lawrence Ho, Tan Sri Dato' Lim Kok Thay, Tan Sri Dr Chen Lip Keong, Prince Albert of Monaco, Bob Stupak, Frank Modica, Phil Satre, Derek Stevens and Stanley Ho.
Sands Cotai Central is a casino resort on the Cotai Strip, Macau, China. On 5 August 2011, Sands China announced that the $4 billion property long referred to as parcels five and six is now officially named Sands Cotai Central. It opened on 11 April 2012.
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