Abstract:

This paper covers a multitude of topics regarding the modern-day casino industry, but it’s primary focus is to serve as an argumentative paper investigating the leading cause for the rapid growth and expansion of the casino industry over recent years. First, the paper dives into a historical evolution of the industry, dating all the way back to the Ancient Greeks and building up to the early 20^th Century. Next comes a data analysis section where the recent revenues of American commercial casinos are investigated, as too are the commercial casino tax revenues. There is then a quick dive into some of the behavioral tendencies of gamblers to help explain why they seemingly always come back for more. Furthermore, the first argument for what has contributed to the surge in the casino industry is presented. This includes a heavy reliance on innovative technologies, including specific examples used by the MGM Grand Hotel & Casino as well as the technology developed by Aristocrat, a well-established gaming provider within the industry. Finally, and containing the bulk of the paper and corresponding research, is the argument for why the legalization and implementation of sports gambling has been the main contributor to the recent success of the casino industry. A variety of economic implications are considered and analyzed, leading to a conclusion that mobile sports betting has and will continue to be a driving force in the sports betting markets. Overall, it has been determined that both innovative technologies and the recent usage of sports gambling has led to the success of the casino industry over the last decade.