External Analysis of the Casino Industry - 2562 Words

One of the top industries in the US is the casino industry, which is in the process of expanding into new states and increasing its market availability. There are many factors that play into the growth of the casino industry such as different rules and regulations from both the federal and state governments to go along with the business factors of technology, social acceptance and target demographic. The companies within the industry also have to look at Porters five forces to determine whether or not that the company they are in is a strong or weak one. An industry consists of a group of companies that have similar products/services, and have a similar way of delivering them to the consumer. There are many companies that make up the†¦show more content†¦By introducing electronic slot and table games into the casinos, the industry has found a way to adapt the changes of technology. Electronic slot machines and video games revolutionized the casino business, and the industry wants to exploit this cash cow to the fullest. One proposal gaining a lot of attention is the idea of a universally configurable game machine that downloads the gaming â€Å"software† -- a new slots game, or pretty much anything else -- thus eliminating the need to constantly bring in new machines and shuffle out the less popular ones. Variations on networked game play -- locally, nationally and globally -- will become more commonplace. In addition, some table games are even getting mechanized, with automated versions of roulette and craps popping up in Europe and set to test soon in the United States. (TODAY.com) By having these new electronic slot machines and other electronic games, the casino industry is able to cut down cost on having to switch out the games every time one goes out of style. Even though technology is changing everyday and is keeping some people out of the casinos, the industry as a whole is takingShow MoreRelatedMgm Case1283 Words   |  6 PagesTRM 472- BUSINESS STRATEGY | MGM MIRAGE CASE ANALYSIS | MERVE BUBLÄ °Ã…ž - 2007103241 | 22.03.2012 | I. INTRODUCTION MGM Mirage is one of the largest gaming industries in the United States and mainly located in Las Vegas, Nevada.   The first MGM Grand was established in Las Vegas, Nevada in 1973. After investing in land on the strip the company followed with Treasure Island and the Bellagio.   The MGM Mirage was created during the merger in 2000.   Since this merger, MGMRead MoreCase 33 – the Casino Industry in 2011752 Words   |  4 PagesCase 33 – The Casino Industry in 2011 Brant Davis Problem Summary The Las Vegas and Atlantic City locations have lost revenues in recent years. 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