{"id":1869,"date":"2020-02-06T17:39:49","date_gmt":"2020-02-06T15:39:49","guid":{"rendered":"http:\/\/www.liberalglobe.com\/?p=1869"},"modified":"2020-02-06T17:39:52","modified_gmt":"2020-02-06T15:39:52","slug":"the-casino-industry-and-how-their-future-is-shaping-up","status":"publish","type":"post","link":"https:\/\/www.liberalglobe.com\/?p=1869","title":{"rendered":"The Casino Industry and how their future is shaping up"},"content":{"rendered":"\n

The Casino industry in many countries of the world is going through a\nserious crisis and many businesses of this type slowly or steadily are driven\nto extinction, and since they turn into “carcasses” businesses,\nleaving hundreds unpaid workers and large debts both to the public funds and in\nthe social security funds of workers, sending them to unemployment, while\ncreating large debts to their suppliers.<\/p>\n\n\n\n

This situation that has emerged over the last fifteen years in the casino\nindustry is mainly since most businessmen of this type of business drastically\nunderestimated the power of the internet and especially the power of its online\nservices.<\/p>\n\n\n\n

by Thanos S. Chonthrogiannis<\/strong><\/p>\n\n\n\n

\u00a9The law of intellectual property is prohibited in any way unlawful use\/appropriation of this article, with heavy civil and criminal penalties for the infringer.<\/em><\/p>\n\n\n\n

\"\"
The Casino Industry and how their future is shaping up<\/strong>
Photo by Author: Pobrien301, licensed Public Domain<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

The causes of the problems<\/strong><\/strong><\/p>\n\n\n\n

In fact, with the appearance of online gambling, casino players disappeared\nfrom the casino tables and literally “married” their mobile phone and\nmore generally any type of mobile device that has internet access betting and\ngambling from home and from anywhere else.<\/p>\n\n\n\n

The immediate result of the online betting services was to urbanise\nbetting, multiple players participating with smaller amounts away from casinos\nby increasing the profits of online betting companies and even further emptying\nthe casino tables.<\/p>\n\n\n\n

If the country hosting such businesses as casinos is going through a\nserious financial crisis creating long-term conditions of shrinking the\ndisposable income of its citizens then casino businesses are among the first\ncompanies they will experience very difficult times and as citizens in these\nmacroeconomic situations drastically reduce their number of visits to casinos.\nIn this case the viability of the company depends on the size of its debts in\nrelation to its shrinking revenues.<\/p>\n\n\n\n

The result of these developments is to close businesses and shrink the\nindustry to a few but powerful players creating very strong oligopoly\nsituations.<\/p>\n\n\n\n

Strategies to maximize casino profits<\/strong><\/strong><\/p>\n\n\n\n

Casinos should change their overall strategy. More specifically,<\/p>\n\n\n\n

1.<\/strong> Casinos should turn most of their business into an entertainment and wellness business, with expensive and high-level restaurants, integrate expensive shopping malls into their business, make hotel facilities the standard tourist hotel complexes in which they will receive, among all other high level, conference tourism throughout the year.<\/p>\n\n\n\n

2.<\/strong> Casino revenues derived from betting should make up 25% of the company’s total revenue.<\/p>\n\n\n\n

3.<\/strong> The aim of the casinos should be to attract customers with a very high wallet who will sit at the tables of the “black-jack”, roulette and “poker” respectively. In order to achieve this, the services offered by these companies should be in their entire spectrum very high both before and after the players sit at the tables of luck. <\/p>\n\n\n\n

4.<\/strong> At the same time, casinos should eliminate from their businesses the so-called slot machines or VLTs. The reason is that players who will want to test their luck in these machines within casinos will be limited and have a small wallet blurring the high level of expensive services of these businesses.<\/p>\n\n\n\n

Players who will want to test their luck on these machines can do so well\nvia the internet. In recession times, financial recession visitors to casinos\nlimit their “luck” only to slot machines or VLTs. The reason this is happening is that these games allow\nhigher profit recycling for their customers and users.<\/p>\n\n\n\n

In other words, the customer and user of these games plays more time and with less money but also with less risk. But the casino earns less than these customer actions. That’s why VLTs should be kicked out of casinos.<\/p>\n\n\n\n

5.<\/strong> The ideal location of casino businesses is to be in cosmopolitan places to pull tourists from abroad. And if their location is not cosmopolitan, companies themselves should create it through their most high-profile services.<\/p>\n\n\n\n

The road to transform these casino businesses in which one can find what\none wants and desire their heart is long but not endless. It wants boldness on\nthe part of entrepreneurs but also an immediate adjustment to the\nsocio-political and economic conditions that is formed each time by finding\nthese businesses ready from each side to face the challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Casino industry in many countries of the world is going through a serious crisis and many businesses of this type slowly or steadily…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[620,946],"tags":[1419,1420],"class_list":["post-1869","post","type-post","status-publish","format-standard","hentry","category-business","category-companies","tag-casino","tag-online-gambling"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/1869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1869"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/1869\/revisions"}],"predecessor-version":[{"id":1871,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/1869\/revisions\/1871"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}