The evolution of casino industry
A banked game is a game of chance. The participating players don’t determine the prizes. A casino offers banked games. The commercial casino industry in the U.S. has changed over the last two decades. An increased emphasis has been placed on a wide range of entertainment and recreational activities.
The above chart shows different types of casinos in the U.S. It shows that land-based casinos are widespread. Racetrack casinos are popular in the eastern U.S. Tribal casinos are the Native American casinos. They’re the gambling operations on Indian reservations. Tribal casinos are widespread across the U.S. They aren’t always run by the tribe itself. The casinos can be run by an outside management company. Other commercial gaming venues include excursion—mobile—and dockside—permanently moored—riverboats and card rooms.
Until the recession started at then end of 2007, the U.S. casino industry was thought to be recession-proof—especially in Las Vegas. However, the industry experienced a steady decline in revenue during 2008 and 2009.
The casino industry’s expansion depends on voters. It also depends on hosting government jurisdictions. Governments enjoy the potential tax revenues that casinos offer. However, they have concerns about potential social costs and other problems that casinos may bring. The uncertainty has caused extreme volatility in the industry’s stock prices.
Key stocks and exchange-traded funds (or ETFs)
Key players in the casino industry include Las Vegas Sands (LVS), MGM Resorts (MGM), Caesar Entertainment (CZR), and Melco Crown Entertainment (MPEL). Exchange-traded funds (or ETFs) like the VanEck Vectors Gaming (or BJK) and the Consumer Discretionary Select Sector SPDR Fund (XLY) give investors exposure to the leisure industry.
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Casino games have a built-in advantage for the operator. It's known as the "House Edge." The House Edge is the difference between the true odds and the odds—or probability—that the casino pays you when you win. This is known as the casino odds. The likelihood of rolling a particular number is known as the true odds. The more combinations possible, the higher the odds.
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