What Is a Casino?
A casino is a gambling establishment that offers chances for players to win money or other prizes through games of chance. These games include slot machines, blackjack, roulette, craps and keno. Modern casinos are elaborate entertainment complexes featuring dining, shopping and nightlife. They also feature a variety of games of chance and skill. Casinos generate billions of dollars in profits each year for owners, investors and Native American tribes. They have become the primary source of income in many towns and cities.
Casinos are licensed and regulated by state and local governments to operate legally. They provide jobs and tax revenue. In addition, casinos attract tourists and conventions that stimulate other businesses. But the industry is not without its critics. Some believe that casinos subsidize compulsive gambling and divert spending from more productive activities. Critics also point to the high cost of treating problem gamblers, and argue that the net benefit of casinos to a community is negative.
The elegant spa town of Baden-Baden became a playground for Europe’s royalty and aristocracy 150 years ago, and its casino is one of the most luxurious in the world. Inspired by the baroque flourishes of Versailles, it’s decked out with red-and-gold poker rooms and a plethora of roulette and blackjack tables. Marlene Dietrich once called it “the most beautiful casino in the world.”
From a business standpoint, casinos are all about making money. To do that, they must have enough patrons to make a profit, and they must keep them playing long enough to offset the costs of running the place. To lure customers, they offer free food and beverages, hotel rooms, show tickets and other gifts, known as comps. To qualify for these gifts, patrons must use a special card that is swiped before each game. The cards tally the amount of money spent and tally up points that can be redeemed for prizes.
During the 1950s, mobster money flowed into Reno and Las Vegas, and organized crime families took sole or partial ownership of several casinos. But federal crackdowns and the possibility of losing a casino license at even the slightest hint of mob involvement forced these casinos to clean up their acts. Legitimate real estate investors and hotel chains eventually bought out the mobsters, and casinos began to focus on the needs of mainstream patrons.
In the 21st century, casinos employ a variety of security measures to protect their patrons and their assets. Besides the obvious surveillance cameras, they monitor gamblers and their habits to spot patterns that could indicate cheating or stealing. They also have people to oversee table games and ensure that dealers are following protocol. For instance, the way a dealer shuffles and deals cards and where the betting spots are located on the table all follow specific patterns that can be easily spotted by trained eyes. The most successful casinos are highly selective about who they let play in their premises. They invest heavily in high rollers, giving them luxury suites and other amenities, while steering clear of low rollers.