The Casino Business


Whether a casino is located in a beautiful resort or the heart of an industrial city, it’s a place where people can find entertainment and excitement. Hundreds of millions of dollars are staked every day in slot machines, card games, roulette wheels and dice. Gambling is a billion-dollar industry. While casinos offer many luxuries to attract customers like shopping centers, stage shows and lighted fountains, they exist because of games of chance. Slot machines, blackjack, poker, craps and roulette provide the billions in profits that casinos rake in each year.

The precise origin of gambling is not known, but evidence of it exists in nearly all societies throughout history. The casino as a gathering place for gaming, however, did not emerge until the 16th century during a gambling craze. The first modern casinos sprang up in Europe and America, often on Indian reservations where state antigambling laws did not apply.

Today, the business of casino-style gambling is a global one, with locations in nearly every country. Some are large and lavish, like the City of Dreams in Macau, East Asia’s version of Las Vegas. Others are smaller and more intimate. They may have fewer attractions and focus more on the gambling activities themselves. They are usually run by investment banks, which make money by managing the house edge. To maximize profits, the banks monitor games and players, looking for patterns that suggest cheating. A casino’s security department also keeps an eye on the floor to spot blatant acts of fraud, such as palming, marking or switching cards or dice.