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Must-know: The most popular casino games
Casinos can impact the society where they�re located. The size of the effect depends on how many visitors the casino draws from outside the area. It also depends on the number of jobs the casino generates within the area.
Casino revenues that support jobs and purchases are generated by casino visitors� spending. The jobs and purchases generate funds. These funds are diffused into the community. The funds have secondary or multiplier effects in subsequent rounds of spending. There�s a second category of direct and secondary effects. They include the non-casino expenditures generated from visitors outside the area. These non-casino expenditures include purchases in local stores or meals in local restaurants.
A variety of factors impact the degree of the direct and secondary effects experienced outside the local area. This occurs when a casino purchases supplies from an out-of-area vendor. It also occurs when a casino hires a worker who commutes to the casino from outside the community. The individual takes the income they made at the casino and spends it outside the local area. This is a phenomenon known as �leakage.�
Displacement effect
The positive economic impact is offset by other local economic activity. It�s negatively affected by the casino. The casino could cause a loss of a business in the existing local economy. For example, an existing restaurant could lose business to a restaurant that�s located inside the casino. Also, local residents could take money that they would spend for other purposes and redirect the funds to the casino. This is referred to as �displacement.� Casino-related spending displaces or substitutes other forms of spending.
Social cost
Social costs impact major players including Las Vega Sands (LVS), MGM Resorts, Wynn Resorts (WYNN), and Caesar Entertainment (CZR). Social cost includes is the increase in corruption or organized crime. Casinos offer gambling for entertainment. However, they also have financial activities that are similar to financial institutions. These activities put casinos at risk for money laundering. This could be controlled through careful regulations.
Exchange-traded funds (or ETFs) like the VanEck Vectors Gaming (BJK) and the Consumer Discretionary Select Sector SPDR Fund (XLY) track leisure companies.
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Discretionary consumer spending effect
The casino business is sensitive to reduced consumer spending. Reduced spending can be caused by economic downturns. Consumer demand for hotels, casino resorts, and luxury amenities is also impacted by the state of the economy.
This could impact major casino players like Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown Entertainment (MPEL), and Caesar Entertainment (CZR). Exchange-traded funds (or ETFs) like the VanEck Vectors Gaming (or BJK) and the Consumer Discretionary Select Sector SPDR Fund (XLY) track the performance of leisure companies. The ETFs could also be impacted by an economic downturn.
Must-know: The most popular casino games
The above chart shows that in 2012, consumers spent more at commercial casinos than they did on movies, craft beer, and outdoor equipment combined. However, consumers spent less on casino gambling than what they spent on full-service restaurants or consumer electronics.
Changes in discretionary consumer spending could be caused by many factors. These factors include:
- weaknesses in the job or housing market
- additional credit market disruptions
- high energy costs
- fuel and food costs
- increased travel costs
- the potential for bank failures
- recession fears
- changes in consumer confidence in the economy
- fears war and terrorism
hese factors could reduce consumer demand for luxury amenities and leisure activities.
Political effect
The casino business is prone to extensive regulations. The compliance costs�or the cost of not complying with regulations�may have a negative impact on the business, financial conditions, operations, or cash flows.
The casino business is sensitive to customers� willingness to travel. As a result, acts of terrorism, regional political events, and conflicts in other countries could disrupt air travel. This would reduce the number of casino visitors. Fewer visitors could hurt the casino�s financial conditions, operations, or cash flows.
The business is also subject to taxation and regulation by various government agencies�primarily in Macao, Singapore, and the U.S. The government agencies include the federal, state, and local levels. U.S. federal, state, local, and foreign governments change tax rules. Changing rules could result in higher taxes than existing tax laws. Changes in tax laws and regulations could have a severe impact on the business� financial condition and operations.
How does it work?
The right location has to be selected before a casino is built. The local zoning laws have to be checked to make sure they will allow a casino in the area. The casino has to register with the city and state. It also has to get the required licenses and employer identification number (or EIN).
The capital that the casino raises could be invested to get gaming equipment like slot machines, video poker machines, roulette tables, poker tables, blackjack tables, craps tables, baccarat tables, chips, cards, and card shoes.
Advertisement is important for a casino. Television and radio commercials draw attention to the casino. Internet advertisements also increase tourism and recreation.
Must-know: The most popular casino games
The above chart shows how an accurate business plan and enough funding make sure that a casino is established correctly. Generated revenue is used to meet business costs�like license fees, capital expenditures, and wages. The revenue is also used to distribute the free cash flow to the shareholders�through dividends and share buybacks. If there�s any remaining free cash flow, the business keeps it. The business uses it to provide for more growth. It can also use it to meet any contingent liability.
Licensing requirements
Three types of licenses are required to run a casino:
- Operating license � This is required to run a casino or offer casino games�for example, running a website that offers poker, roulette, and blackjack.
- Personal license � There are two kinds of personal licenses�the personal management license (or PML) and personal functional license (or PFL). PML is for individuals who are responsible for specific areas in the organisation. Casino employees would have to apply for PFL if they are involved in gaming or handling gambling money.
- Premises license � This is required to run small or large casino. It�s also required to run an existing casino. It�s issued by the local licensing authority.
Key stocks and exchange-traded funds (or ETFs)
Key players in the casino industry include Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National Gaming (PENN), and Melco Crown Entertainment (MPEL). Exchange-traded funds (or ETFs) like the Consumer Discretionary Select Sector SPDR Fund (XLY) and the VanEck Vectors Gaming (or BJK) track leisure companies.
https://marketrealist.com/2014/09/must-know-most-popular-casino-games/
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