Some of the largest gaming companies, including Harrah's Entertainment, Inc., MGM Mirage, Park Place Entertainment, and Mandalay Resort Group, operated floating casinos.Īccording to the AGA, there were 432 major commercial casinos operating in eleven states during 2002. Major markets for floating casinos included Chicago, Illinois Tunica, Mississippi the Mississippi Gulf Coast and Bossier City, Shreveport, and Lake Charles, Louisiana. In 2004 State of the States, the AGA reported that consumer spending on gambling ($27 billion) was far less than consumer spending on fast-food meals ($137.8 billion) but greater than spending on other leisure activities, such as amusement and theme parks ($10.3 billion) and movies ($9.49 billion).Ģ004 State of the States reported that there were eighty-three riverboat/dockside casinos operating during 2003 in Illinois (nine), Indiana (ten), Iowa (ten), Louisiana (fourteen), Mississippi (twenty-nine), and Missouri (eleven). This is called the gross gaming revenue or 'casino win.' The remaining $573 billion was taken home by gamblers and is called the 'payout.' The casino industry considers its revenue to be consumer spending, as gamblers 'spent' that money while gambling. The American Gaming Association (AGA) reported in 2004 State of the States: The AGA Survey of Casino Entertainment that commercial casinos kept $27 billion of this amount in 2003. As reported by Dan Seligman in 'In Defense of Gambling' ( Forbes, June 23, 2003), approximately $600 billion was gambled at U.S. In gambling terminology, the 'handle' is the gross amount of money wagered by gamblers. Some states place a limit on the amount that can be wagered, in so-called 'limited-stakes' gambling.

Most states specify exactly which table games can be played in casinos. A handful of states allow slot machines at noncasino locations, such as horse and dog racetracks or other commercial establishments. Some states allow land-based casinos, while others restrict casino games to floating gambling halls on barges or riverboats. Each state sets different limits on the types and locations of casinos permitted. They are heavily regulated by state governments. Chapter 4 CASINOS, PART 2: COMMERCIAL CASINOS THE MARKETĬommercial casinos are those owned and operated by large and small companies.

86 casino term