Time is Money in the Casino Industry
December 21st, 2007
The new casino debate going on in the gambling industry as of late is how fast a casino can actually make money. While some analysts claim that it should only take four years to raise $3 billion, others say it takes much more time once you factor in negative costs.
Atlantic City, the second largest casino gaming destination in the United States, surpassed only by the splendor of Las Vegas, took twenty-two years to generate $3 billion in annual revenue from their slot machines. But supporters of the Pennsylvania casino gaming industry predict that the slot machines predicted to be open by the end of 2008 should bring in at least $3 billion by 2010.
Three billion dollars in two years? Now as unlikely as it sounds say some casino industry analysts. States like Delaware and Michigan have casino slot machine revenue similar to what Pennsylvania is hoping for. However those numbers focus on the incoming revenue and taxes generated by gambling, and do not take into account the costs of such a venture.
New casinos don’t just bring in added revenue; they also bring in certain economic costs such as dealing with an increase in traffic and the cost of treating citizens with gambling addictions.
“You would never hire an accountant to just put in the income side of how much you earn if you have a business. You put in the income and expenses and come up with a net figure,” said author of The Luck business, Robert Goodman.
Pennsylvania’s Gaming Control Board is holding public hearings this week on applications filed by 22 separate groups competing for 14 new gambling licenses. Each applicant filed local impact reports earlier this year, each promising millions of incoming tax and tourism dollars, thousands of new jobs and little increases in local crime.
Brian McGill, of the Susquehanna Financial Group LLP, believes that Pennsylvania looks to bring in $3 billion in revenue form slot machines alone.
“Even though $3 billion in gaming ‘win’ [incoming revenue] is achievable, it will likely take several years before this number is achieved,” McGill said.
Pennsylvania needs to build a customer base, and faces high levels of competition due to its neighbors; Delaware, Connecticut and New York all have some casinos and legalized gambling. However Pennsylvania’s biggest casino competition comes from it’s proximity to New Jersey, home of Atlantic City. Atlantic City is so closely linked with many of Pennsylvania’s citizens many will be hard pressed to move their casino gambling within state limits.
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Top online casinos Offer
December 20th, 2007
Online gambling is, naturally, just an internet-based version of a regular land-based casino, but the top online casinos offer far more than just an internet gambling site.
You can find all the usual land-based casino games at the top online casinos, including blackjack, roulette, poker, craps, slots, bingo and keno, to name just a few. The top online casinos also offer exciting bonuses and comps far exceeding those found in land-based casinos, even for the regular everyday player. After all, who ever heard of a Las Vegas casino offering 100% match-bonus or better, as is offered at many of the top online casinos?
Of course, there are obvious benefits for choosing to play at one of the top online casinos, such as being able to enjoy all the thrilling entertainment of gambling from the comfort of your own home, and the chance to win great jackpots too, but the major advantage of gaming with the top online casinos is that they allow players to practice their games for “fun”, before any real money is put on the table.
Imagine walking into a casino on the Vegas Strip and asking to play “for funzies”. Well, it would be good for a laugh, but that is exactly what you can do in the top online casinos. Some of the top online casinos are even beginning to offer introductory bonuses that allow players to keep their winnings from an initial amount of “fun” money, without ever having bet a cent of their own hard cash!
The only hard part is deciding which of the hundreds of the top online casinos to choose. All the top online casinos offer varying bonuses, comps and introductory offers, and all of them carry fine print, so it’s important to read the terms and conditions carefully. Check the top online casinos for the payment options offered, as well as what languages the site can be displayed in. Customer support is important, and their service can help you out with any problems or questions that may come up, making or breaking your online gaming entertainment experience, so check out their support service.
The best way to check up on the top online casinos is to look at the sites of industry watchdogs and independent review sites. Read message boards and forums to see what other players are saying about the top online casinos, and check the site for licensing and accreditation.
There are a few independent internet gambling accreditation sites that give seals of approval to the top online casinos, after rigorous testing to ensure that the casinos meet the highest standards in game fairness, consumer safety, customer support, range of games and quality of software.
Software is also an important consideration. Generally, unless your computer is really old, running really out-of-date software or low on disk space, you should have no problems at all to download games from the top online casinos, and many of the top online casinos even offer games in Flash, that can be played directly without downloading, though the download games are usually better.
Remember to keep careful track of how much you are spending online, and account for online gambling from your entertainment budget. Don’t try to recoup gambling losses by gambling further, it usually leads to a downward spiral of debt. Check the legality of online gambling in your local area. Online gambling is legal in many countries and regions, but illegal in others.
It can be so easy and so much fun to enjoy the top online casinos!
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