Casinos revenues and profits are having problems due to the bad economy. However estimates indicate that revenue and profits will grow in the future. But even though the economy gets better competition plays and important role in this situation since now new casinos are allowed in different states. Which means people wont have to travel to Las Vegas or Atlantic City. They will have casinos closer to where they live.
Concerns about casinos outside the USA also are accounted for many high rollers that are frequent to Las Vegas or Atlantic City could choose to go to other places. Because of this Las Vegas and Atlantic city are trying to make their buildings and hotels more attractive as possible to differentiate themselves from others.
Looking back Nevada was the only state that allowed gambling for many years retaining its status as the state with the highest revenues from casinos. Eventually other states allowed casinos and gambling calling it an acceptable form of entertainment for a night out. Most of the growth of casinos has come from the growing popularity of slots machines. Which counts about 2/3 of all casinos revenues.
Las Vegas clearly acts as a magnet for over night gamblers, and even though casinos have spread all over the country Las Vegas and Atlantic city generate greater revenues than all casinos combine in the whole United States. Finally even though competition will increase many believe that this market will increase as new people gain a taste for gambling and eventually will want to visit these two locations creating a new chain for the future.
Officially established as a city in 1854, Atlantic City was poised to become the next resort town with great real estate opportunities. Located in South New Jersey on the Absecon Island, the new island resort town was frequented by the neighboring states via the newly installed railway that led all the way up to the beach. By the 1920s; Atlantic City was a boom town, even with prohibition in full ...
Through the Porter’s five forces of competition las vegas and Atlantic city location casinos , we can identify some of their strengths as unique product, where the variety of entertainment deliver to their costumer is not limit to gamble , they also offer adult shows, night clubs and some more , also accommodations available and quality services
Las vegas and Atlantic city casino Weakness are the online present , cost structure and the changes in the economy. The internet has made it easies for customers to gamble without leaving the comfort of their home and less expensive. With the ups and down of the economy casinos are one of the first industry to feel it , gambling is just not a priority .
These casinos locations also offer some opportunities like innovation and new services. casino industry always is looking for new ways to keep and attract more customers and the best way it to keep creating , The incentive and reward program help maintain those high rollers spending on the same casino .
On the other hand intense competition is a major threat for las vegas and Atlantic city casinos . More and more states are allowing casinos as a way of entertainment making hard for current casinos to stand out
Casinos are a way of entertainment which mean they need to be in a constant search for new ways to keep and attract new customers, even with all the changes in the economic the casino industry has proven to be a strong one. The continues growing of the industry has force many existing casinos to develop bigger and luxury properties, other merge creating bigger and powerful firms .
Overall las vegas and Atlantic city are still the number one casinos in the united state and should stay market as an adult place of entertainment and definite not a family friendly zone.