MiTasha Huey
SWOT and Strategy Evaluation Paper
11/10/14
Instructor: Daniel Boose
SWOT ANALYSIS IN GAMBLING STRENGTHS
Stable Industry growth
States Privatizing Lotteries
Great Customer Service
Products and Services offered WEAKNESSESS
Tax Structure
Decrease in consumer spending
Addicted Gamblers
OPPORTUNITES
Growing Economy
New Games
Gamble Reward Program
Emerging Markets THREATS
Increase in Labor cost
Tax rates raised
There are many ways that the customer service experience can be improved. One way is to understand that expectations that the customers want within the company. Casinos need to be able to understands the standards that need to be made for the company. That way the expectations can be
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The Casino Industry have mad changes that have been positive. Customers love the gaming machines at the casinos. Just to be able to pull the handles, press the buttons, and all of the colorful slot machines is a sight to see. The Casino Industry has changed tremendously by changing the products and services. The Casino Industry went from just having the basic slot machines with the pull handle to having slot machines with push button and touch screens. This brings the customers back to the casinos because the new machines are more exciting than the old ones.
Barriers to Strategy Implementation
There are numerous factors in improving the Casino Industry performance. Increasing products and services is one that that will have to be implemented with the Casino Industry. Adding new technology at the Casinos will be another thing that can be done. Listed below are some barriers that affect the strategies in the Casino Industry.
Financial Crisis that caused gamblers to spend less and gamble less.
The increasing in Internet Gambling. People are gambling more on the internet while at home in their personal space.
Global Economic turndown is bad for the gambling
Gambling... Who does not like to gamble? People play lotteries, bet on sport games or try their luck on slot machines with a thought to win some amount of money. In fact, this excitement for gambling can be seen even from early ages; for example, ancient Egyptians used to play dice in 2000 BC or the first casinos opened their doors to customers during the Greeco-Roman period ( Whittaker and Cushman 1 ). Nowadays casino industry is a large business in the United States that brings high revenues and offers various entertainment that attracts people from different areas. So just recently residents and visitors of Worcester, Wicomico and surrounding counties got a great opportunity to try themselves in a new Ocean Downs casino that came into operation couple months ago. Ocean Downs casino is an excellent benefit to the community that helps to improve the economic and social status of the county and also serves as a great entertainment for the adult population.
For years, casino gambling was portrayed in the media and Hollywood as being associated with criminal activities and the mafia. Now with proper scrutiny and government regulations, casino gambling has become a lucrative business, with casinos stock even trading on Wall Street. Casino gambling is an increasingly popular and legal activity in many states throughout the United States. “The term gambling or ‘gaming’ as the industry calls it, means any legalized form of wagering or betting conducted in a casino, on a riverboat, on an Indian reservation, or at any other location under the jurisdiction of the United States” (National Gambling Impact Study Commission Act). States that allow casino gambling benefit vastly by re-incorporating the taxation of commerce gained from casinos and tourism associated with the casinos back into the state and local communities.
The casino industry in Australia operates under an environment of uncertainty. According to the Australian Bureau of Statistics Australia’s 13 casinos recorded a total operating loss of $288 million in 97-98. Outsiders predict a gloomy future for the casino industry in the next few years due to the reduction in international high rollers and the low level of management talent in Australia’s young casino industry.?? In this business environment Crown must implement business strategies will carry it into the next century as one of the worlds most successful casino complexes.
Gambling goes way back into 1860’s in Nevada (“History of Gaming in Nevada”). The history began around 1864 to 1931, starting with the prospectors (ibid). The prospectors were the people who brought the gaming/gambling into Nevada and made it known. However, Abraham Lincoln chose Nevada Territory Governor James Nye ,who was against gambling, encouraging the legislature to ban any forms of gaming (ibid). When Nevada became a state in 1864, the first legislature tried to legalize and regulate gambling, but they failed to do that (ibid). Since then, gambling was dramatically reduced with the operators being punished and little to no players (ibid). In 1909, Progressive Movement passed legislation , banning gaming in Nevada (ibid). Later on, a bill was introduced to legalize gambling again, but soon to fail another time (“Bill That Transformed A City”). The Legislature of 1927 considered another bill that was similar, it passed the assembly, but lost by one vote in the Senate (ibid). Around the 1930s , the bill passed the Assembly and Senate. Fred Balzar, an american politician, signed the bill and gambling was finally legal in what was then the nation’s least populous state. Soon after the gambling was legalized, casinos started to build up in Las Vegas.
The gaming industry has also been trying to adapt to the change in demographic with adopting new technology in gaming. “The old one-armed bandit has all but disappeared from the modern day casino. When a new slot machine game is released, the pull handle is rarely used. Even push buttons that had replaced the pull handle is being used less and less. Now games are using touch screen technology to replace the push button. These advancements are used as a lure to a younger demographic that has seen advances in other industries such as telecommunications and video games and the gaming industry are trying to leverage similar technology to attract this demographic”. Baca,N (2013, Nov) I-Team: Technology Trumps Traditional Casino Gaming, 8newsnow.com, Retrieved from: http://www.8newsnow.com/story/23895056/i-team
The Gambling industry attempts to win support with misleading information in its promotions. For example, gambling is said to help stimulate the economy by providing more jobs. According to the American Gaming Association study, "In 1995, the casino industry recorded $25 billion . . . and paid only $7 billion in wages" (Arthur Anderson). Also according to Maura J. Casey, there is high unemployment rates around casinos. (Casey 37) With people's losses and by encouraging workers to believe in cheating customers, casinos focus on gaining more and more money for their n...
Las Vegas also it is familiar as “Sin City,” is one of the most famous tourist place in the world. It is an incredible place in the middle of dessert, it is a city established from nothing to something great. Vegas has developed in tourism and population as well to become beyond universal. Las Vegas has ranked the fastest-growing state, according to the Las Vegas review journal, “Nevada ranked as the nation’s two fastest-growing states over the past year, according to U.S. Census Bureau population estimates for 2016 released Tuesday.” Las Vegas is known as a gambling city, nightclubs and casinos. Gambling plays a big role in many Nevadans Lifestyles. This is such a problem that should be considered. In this essay I will discuss about how gambling has a big effect on Nevadans lifestyle, plus how to avoid being addictive to gambling. In Las Vegas there are stereotypes of gambling, such as Lottery, slot machines, cards, and many others. But in this essay I will only discuss on slot machines.
The Great Transformation From A Casino City To a Resort Destination Atlantic City is the place to gamble on the East Coast. Although this may initially seem to be a positive characteristic, it is evident that this destination has the capability to be so much more than it already is. This point of interest has the world’s first boardwalk, which opened in 1881, has 4 miles of hotels, amusements, and casinos. Atlantic City was originally a resort town, until 1978, when it changed into a gaming city. This popular day-trip destination had over 34 million visitors in 1998 alone. Despite this amazing statistic, along with the revenue that gambling brings in, many steps are being taken in order to further promote the expansion of this great city. The renovations and improvements being made to the Atlantic City Convention Center are already increasing the amount of money coming in. There is a great deal of other things to focus on in the Atlantic City region. In endorsing local attractions in this scenic area, and in shifting the target market of this spot, this city would change back into a resort destination. When most people think of Atlantic City, the first thing that comes to mind is the casino attractions that are available. With the city’s constant shuffle and excitement, gamblers from all over go there dreaming of a big win. Many people consider Atlantic City to be the “Las Vegas of the East Coast”. There are over 12 casinos, with one building as magnificent as the next. At any given second of the day, these hopefuls may have their lives changed in an instant with just one win. These casino hotels gain most of their income from gamblers. Casinos employ almost 49,000 people every year. This number should actually jump when the Marina District opens. Although Atlantic City prospers as a gambler’s paradise, many would love to show others just how much more Atlantic City really has to offer its tourists. The Atlantic City Convention Center, built in 1929, was renovated with $72 million in 1997. With the world’s largest pipe organ, everyone from the Beatles to Pavarotti has played there. It was designated a historic landmark in 1987. Conventions, trade shows, meetings, and public events of the greater Atlantic City area all take place here. When the renovation is finally completed, it will seat up to 12,000 people for special events.
Even though casinos have created a number of jobs, the cost to society is greater than the benefits. People are arguing that the jobs created by casinos are low paying and offer little opportunity for the worker in progress. Furthermore, the creation of these casino jobs has taken away jobs from other areas of the economy. Restaurants near casinos are being forced out of business by the cheap buffets that casinos offer, to draw people in.
Dynamic strategic management encompasses the approaches, tools and activities organizations utilize to determine direction, increasing the likelihood of organizational goal attainment. It is an approach that suggests organizations operating in uncertain environments require a flexible plan to minimize risk and take advantage of opportunity As a tool developed to analyze a firm’s position within its operating environment, a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis provides insight into how internal and external factors are inhibiting or facilitating advancement toward reaching organizational objectives within a dynamic environment. This paper aims to understand how a SWOT analysis assisted the Calgary International Airport Authority create a competitive business plan for their future in an uncertain environment.
The reason for this may be because of increasing crime rates. The casinos would have everyone believe there is no change in crime statistics after they come in but this is not true. The American Insurance Institute estimates that 40% of all white collar crimes have their roots in gambling. Compulsive gamblers will bet until they have nothing left: savings, family assets, person...
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people to keep playing with. Nothing less that psychological warfare is going on at casinos across the country. " The days of shaved dice, missing face cards and rigged roulette wheels are long gone. But the pursuit of profitability in the The corporate era of gambling has turned the average casino into a financial.
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