Benefits Of Gambling And Nevada - 1674 Words

Gambling has been a form of entertainment since ancient history. Games of skill and chance using an early form of playing cards can be dated as early as 2300 B.C. and for thousands of years has evolved to become one of the most lucrative forms of business. In the year 1931 a bill was introduced to legalize gambling and Nevada s first casino resort, the Meadows opened. By December 1946 brought a new form of casino gaming with the Flamingo Hotel as the first modern casino in Las Vegas offering, luxurious rooms, nightclub, golf course, and a fine dining restaurant. Caesars Entertainment Inc. is a perfect example of a modern casino that has evolved to become the largest casino company in the world and contributed in the revolution of the†¦show more content†¦Arthur Goldberg, Park Place Entertainments chief executive, stated in an article written in the New York Times â€Å"By acquiring the Caesars brand name and related customer data base, we have plan to heavily cross-market between our destination resorts. This will boost revenues and expand the markets where we operate.† (CITE) Arthur Goldberg planned to expand on what Starwood had started which, made Park Place the largest gaming company before the millenium. The combined properties had the most hotel rooms in the industry and an estimated 2 million square feet of gaming space and net revenues reaching $3.2 billion dollars in 1999. The loss of Arthur Goldberg in October of 2000 was the epitome of the saying â€Å"all good things come to an end† the company had been doing extremely well with sales reaching $4.9 billion and the industry started to see significant growth. Days after Goldbergs passing Thomas Gallagher, a former Hilton Hotels exec,was chosen to be Park Place’s CEO. During Gallaghers tenure Park Place Entertainment hit a few rough patches with shares falling 2 consecutive years valuing 45% (CITE), and the economic effects of terrorist attacks during 9/11 did not contri bute much to the financial situation that the company was experiencing. Despite all the issues Gallagher did his best to steer the company in the right direction attempting to remain consistentShow MoreRelatedShould Sports Be Legalized?978 Words   |  4 PagesSome jobs would also be created if online gambling was legalized. Many of the existing online gambling sites would move their operations to the United States, while other sites would be newly created in here. The jobs created would range from computer programmers to customer service jobs (Rousu). Our economy is always looking for new jobs to decrease the unemployment rate. This is a great way to lower unemployment and increase the economy at the same time. In Canada, the provinces experience additionalRead MoreEssay on Is Gambling Good?1582 Words   |  7 Pagesbeing confined to Nevada, the gambling industry has started appearing in new locations. Of course, this is expansion is not supported by everyone. In some locations, the government allows casinos on Indian reservations and â€Å"river boat casinos.† Certain governments, such as the state of Nevada, allow gambling in all parts of the state. Originally, gambling was only legal in Nevada. The other locations are fairly recent and many other local governments are considering legalizing gambling in their citiesRead MoreNevadas Winnings against Protesting a Lottery800 Words   |  4 Pagesthe option of Nevada having a lottery has been enticing for many. Although lotteries might provide extra revenue for school, when one takes a deeper look into the facts, everyone loses. On average Nevadas casinos profit at about 11 billion a year. People come from all over the states and even the world to gamble in Nevada. 87% of Nevadas tourists specifically come to play the slot machines, and on average Nevada makes around 9 billion dollars a year due to the slots. If Nevada had a lotteryRead MoreIs Lottery a Good Idea1189 Words   |  5 PagesIs a Gambling a Good Idea? Definition of Gambling Merriam-Webster’s Learners Dictionary defined gambling as â€Å"playing a game in which you can win or lose money or possessions† (Merriam). Origin of gambling in the United States The first lottery was held in the America by the Virginia Company with the permission of the Crown to raise money to finance the establishment of the Colony in 1612. The lotteries were relatively sophisticated and included instant winners. All the original 13 raised revenueRead MoreLegalized Gambling Essay919 Words   |  4 PagesLegalized Gambling Have you ever wagered on a game? If so you were gambling and should have been fined. Gambling should be legalized in the state of Florida. The lawmakers, who have decided that it is evil for you and me to gamble, have justified it as a means to scam billions from citizens in order to compensate for their mismanagement of tax money. First they waste what they collect in taxes and then recover the wasted billions with gambling scams to get more, much more. AddingRead MoreCasinos Offer Many Things, To Different People. Most People1023 Words   |  5 Pagesbe on track. Many people go to have fun, while for some people it’s a lifestyle. Despite the other problems like addiction, gambling is something that is very popular and it just continues to grow more and more, illegalizing this would cause problems and not end easily. The positive benefits of legal gambling far out weigh the disadvantages proposed by any naysayers. Gambling is something that will continue to grow and will always be a thriving thing. The job opportunities given by this industryRead MoreThe States Policy On Gambling1416 Words   |  6 Pagesdiscussing what the states policy on gambling should be, one must first become familiar with the definition of gambling. Gambling is defined as â€Å"the activity or practice of playing at a game of chance for money or other stakes†. When people hear the word gambling, casinos, lotteries, and online gambling websites are what is most often thought of, however, these are not the only types of gambling. People can gamble throughout a variety of fashions, such as virtual gambling on tablets or smartphones, scratchRead MoreGambling Research Paper1427 Words   |  6 Pages â€Å"I play blackjack. I’m not addicted to gambling, I’m addicted to sitting in a semi-circle.† by Mitch Hedberg. Are you a tax payer? Do you believe you pay too much in taxes? Well the amount of money that casinos and gambling bring into a state in taxes is a phenomenal amount. Thi s could possible help lower your taxes and save you money. First, we are going to discuss what I believe to be the problem. Then, I would like to share with you what I think is the cause. Finally, I am going to inform youRead MoreGambling In Texas Essay2103 Words   |  9 PagespIn 1995, Texas proposed a referendum for the legalization of casino gambling. However, perhaps due to Texas extreme conservatism, many Texans opposed the idea. Since then, other states have joined Nevada to allow unlimited gambling in their state. From record economic growth to billions of revenue dollars for state expenditures, these states continue to reap from their bold decision while Texas remains watching from the sidelines. Rather than enjoying the same profits as its fellow statesRead More gambling Essay858 Words   |  4 Pagesincredible growth in the gambling industry. Twenty years ago if a person wanted to gamble they had to go to Nevada. Nowadays, there are only six states in which no form of legalized gambling exists. Proponents of the gambling industry feel that this growth is a good thing a nd that it is helping the national economy. However, there are many opponents that feel that gambling is hurting families and society. Indeed, there needs to be a limit to the growth of the gambling industry, although, this