There are not many industries that deal with great wealth and generate controversy in the same
manner as the casino industry. It is quite surprising that for an industry that handles billions of
dollars, outside the controversy and negative headlines not much is information is readily
available.
The casinos are built to facilitate an even older concept; gambling. Although we cannot put a
date on gambling it is widely accepted among historians that the first form of casinos
emerged in Italy during the 17th century. The “IL Ridotto” meaning the private room was the first
government-sanctioned casino in the world. It may surprise you to know that it is still open and
functioning under the name “Casinò di Venezia” nearly reaching 382 years in operation.
Today though, the Casino industry has grown beyond the confines of Italy and Europe. While
European casinos continue to bring in millions of affluent patrons, there are many other casino
hotspots around the world. One of the most famous is the city of Las Vegas and its famed Las
Vegas Strip is home to some of the world’s biggest casinos. Outside of Europe and the
USA, Macau is perhaps the most famous destination often considered the Vegas of Asia. Based
just off the south coast of China it is home to nearly 40 casinos. This is closely followed by
Singapore which has the world-renowned Marina Bay Sands Casino complex.
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It is no great secret that Casino makes tremendous amounts of money. But it is not often known
what casinos offer in terms of its games. According to some experts, Slots machines remain the
most used across casinos in terms of the volume of people it attracts. This is often a novices’
favorite due to its simple nature and little risk. Some of the other popular games include
Blackjack and Roulette. Although they don’t attract the same volume of people as Slots, these
games, in particular, generate higher stake games. Sometimes stretching up to a few million
dollars a hand or a turn in the case of Roulette.
The modern-day casinos are not just about gambling. They’ve evolved to offer entertainment,
dining and even operate as great hotels. Many of the great hotels in Vegas are also doubling up
as casino destinations. They have also become tremendous venues for hosting worldwide
events attracting millions of viewers. They also frequently host various live shows, acts from
around the world and even host celebrities. However, it must be noted that these comforts are
all designed to keep the visitors in and thereby increasing their likelihood of gambling.
Casinos attract tremendous opposition as well. In particular from conservative communities. It is
often suggested it brings a negative effect on a community around it. While there may be some
truth to that statement it is not the only angle to look at it. Casinos generate many jobs around them
and can have an uplifting effect as well. For example, we need not look further than destinations
such as Vegas or Monte Carlo based in Monaco. Due to its Casino, Monte Carlo attracts the
most affluent of the world and this generates massive employment for restaurants, housing,
shopping and generates higher tax returns for the township.
The future of Casinos is also advancing with many casinos opening up online operations to
attract younger crowds. There is significant growth happening in these as well and the reason
seems to be its convenience and the sense of excitement it brings.
At the end of the day, we can agree or disagree if casinos are good or bad. However, the one
thing we must agree on is that Casinos are here to stay. They’ve faced many challenges over
400 years and all the signs point to them growing more successful in the future.