1. What are the strategic groups in the casino industry?
The Las Vegas and Atlantic City which are known for their popularity have been around for sometimes since 1970s. These strategic groups have been operated under one business model. Their main objectives are investing in gambling industry that was not allowed back in 1970s. The time they were initiated this type of business was very challenging to them but they have lived until today. The Nevada legalization of the casino industry had increased the potential popularity of Las Vegas and Atlantic City in the United States and around the world. The Las Vegas and Atlantic City have developed more small convenience casinos in different venues to operate for similar competitive strategies.
These small companies are clustered to each other but they have significantly different prospective from companies in other groups. For instance in Las Vegas, the casinos have expanded their facilities to increase the number of services in different locations to attract customers to boost up their profits. In addition the casinos industry has begun to change their environmental to improve consumers’ satisfaction in introducing several alternative services to keep them from moving to other locations. These services include luxury hotels, condominium units, convention centers and more retail space. The Atlantic City casino industry has also developed new facilities in some other areas to improve its services.
The Essay on Atlantic City
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 ...
Porter’s five forces
The increase number of casinos in different part of the United States and around the world has threatened the Las Vegas and Atlantic City casinos industry. The number of competitors doubled up in last few years. These rivalries have caused more downside effect to the casino industry. The growing of Native American casinos, riverboat casinos, and slot machines installed at some convenience stores has led Las Vegas and Atlantic City to close down some of their casinos locations. In addition technology and various locations outside the United States and some parts of Europe and Asia have attributed to the shrinking revenues. The internal and external rivalries have made it difficult them to bargain with their suppliers. Also the threat of substitution has contributed to market failure.
