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Related Flashcards
Cards In This Set
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Gross gaming revenues in the US commercial casino industry were the
second-highest ever at how many billions of dollars in 2008? Was this an
increase or a decrease over 2007
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32.54 billion; decrease of 4.7 percent from 2007
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In 2008 what type of casinos continued to be the primary mode of
expansion in the commercial casino industry? Most of the increases in revenue,
employment and tax payments in 2008 were driven by expansion into what two
states
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Racetracks, Pennsylvania and Indiana
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Name a state with land
based casinos that during 2008 raised its maximum bet from $5 to $100.
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Colorado
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What two states have no gambling
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Hawaii and Utah
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Define ―Gross Gaming Revenues.
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Amounts wagered by patrons minus the amounts returned to winning
players; like sales, it is a measure of how much consumers spend, or the
operator wins; it’s not the handle (handle includes the winnings returned to
players)
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Is legalized gambling
a $600 billion industry or a $50 billion industry? Explain your answer (For
help see the AGA Fact Sheet for this question.)
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50 billion. 14.1 billion paid in wages; 32.54 billion in gross gaming
revenue; 5.44 billion in direct gaming taxes
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What is the formula for calculating a player‘s theoretical loss? (Think
in terms of theoretical loss at a table game.)
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Statistical Advantage X
Number of Decisions per Hour X Length of time Played X Average Bet (jlg)
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Give an example of a
―hybrid casino in
Las Vegas… a casino that is not located on the Strip and that caters to locals
and tourists. One example of this would be the casino that Steve Cyr works
exclusively for.
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Hard Rock Hotel (ket)
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In 2005 mega-mergers of casino companies became the norm. Name the two
largest mergers and the companies involved.
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MGM and Mandalay Bay AND Harrah’s and Caesar’s
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What two gaming companies built the Borgata as a joint venture?
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Boyd Gaming and MGM MIRAGE
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List five of the ―Borgata: Ten Lessons Learned Since Opening
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Acreage Matters
2. Vision Matters 3. Sex Sells 4. Physical Appeal Matters 5. Casino Retail Works 6. Quality Entertainment is Contagious 7. Restaurants Matter 8. Tables are HOT 9. Busses are not necessary 10.The gaming pie is not finite (Market expansion!) |
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Someone hit a jackpot on the machine you just left; you would have
gotten that jackpot if you kept playing.
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False:
The
slot machines have a computer chip inside that runs the Random Number Generator
(RNG). The RNG is continuously cycling through numbers even when the machine is
not being played
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You can tell the odds of winning by counting the symbols on each wheel
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False: The RNG generates a number for each spin. The number corresponds to the symbols on the Reel. There can be hundreds of Virtual stops on each wheel even though you only see a few examples.
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Casinos can loosen or tighten the slot machines with the flip of a
switch
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FAlse. The slot machines have a computer chip in them that determines the pay back percentage. These are preset at the factory.
In
order for a casino to change the pay back, they would have to change the chip
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A machine that has not been paying is due to hit
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False.
There is no way to determine if a machine is due
to hit. Each spin is a random occurrence and has no bearing on what has
happened previously
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