Casino Industry

Casino Industry es done on the subject over the past 15 years. It was even the topic of contention of a commission, the Gambling Impact Commission, back in the late 1990s. On the impact of the casino in the global market, there is lots of information to be precise. The commercial casino industry plays a major role in the U.S. entertainment industry as well as contributing to the U.S. economy (Stinson, 2005). It is important to the states and communities in the areas where it operates. It creates jobs and business opportunities actually for local businesses. It also provides direct gaming tax revenues stimulating the struggling economies and helping the surrounding communities grow. Few economic and other sectors in the U.S. requires quite a considerable capital expenditures, labor intensive and supportive of many outside vendors as well as suppliers like the case of the commercial casino industry (Thalheimer, 2004). Thanks to these casino contributions, gaming industries are relatively stable business partners that play a key role in the landscape of the countrys economy. Internationally, U.S. commercial casinos have contributed in the building of the industry into a significant part of the economy globally by pursuing huge investment opportunities in as many emerging foreign markets as possible. While the industry expands in size, it also continues in evolving in scope to provide new entertainment offers and necessitating the adoption of technological innovations aimed at delivering the best customer experience (Garrett, 2004). SWOT Analysis This analysis offers conclusions about the casino industry in which the industry can exploit the opportunities and strengths and improve on their weaknesses and threats. In the casino industry, there is a lot on the opportunities, threats strengths and weaknesses relating to the advancement of the industry in future. TABLE 1 SWOT Analysis of Casino Industry Strengths International growth into other countries for instance Asian markets History (developed over many decades) Acceptance by public officials Weaknesses Development of many illegal casinos Insecurity and poor player tracking Myths about casinos (illegal dealings, rich mans place) Opportunities Extending growth to other markets for instance Africa Metamorphosis into other investments for instance multi-component entertainment centers New technologies developments for instance server-based games Threats Introduction of strict Gaming Control Board rules could usurp the running of the industry The countrys economy could collapse if solely dependent on the casino industry Recommendations The casino industry is strong in United States and continues to grow over the years. The fact that it is employing thousands of residents means that it is a powerful tool in the economy. This means that it ought to sustain operations even under all circumstances. The collapse of the casino would mean a major draw back in the countrys economy and many people rendered jobless. The conflict in the operation of casinos ought to get lasting solutions (Vander, 1999). First, the security of the casino industry needs to be enhanced perfectly to bridge the trust in the industry and enhance its acceptance. Radio frequency identification (RFID) is perfectly a way through which the casinos can use in the improvement of the security and facilitating successful player tracking. This will increase the integrity rating of both dealers and the players and facilitate a smooth running of the industry (Shaffer, 1997). Community engagement would be the ideal way of bringing in acceptance of the industry and whiling away any criticisms regarding the casino industry (O'Reilly, 2000). Commitment to environmental sustainability is best in leading in area of hospitality as well as entertainment businesses. The U.S. Green Building Council engagement would build trust in this industry and make a good chance of educating the people the positive side of the casino industry whiling away all myths concerning the industry (SALLAZ, 2002). Responsible gambling campaigns are also a great way of making the industry safe and best for the parties involved. Creating a national spotlight regarding responsible gaming makes the industry run smoothly with few incidents reported concerning illegal acts in gambling or other activities building a better name for the industry and promoting acceptance. The implementation of AGA Code of Conduct in all casinos all over the United States is the way forward in this industrys success (Stokowski, 1993).