Overview

Complete guidance to the ins and outs of gaming operations Management personnel need a thorough understanding of the business side of the casino industry to ensure profitsâ??and to avoid losses. It's a sure bet that Casino Operations Management, Second Edition will help current and future gaming management professionals better serve any casino. Written by experts with over 65 years of combined experience in the field, this Second Edition offers all the critical skills and know-how to equip gaming and casino operators with the knowledge needed for the management office, cage operations, and table game and slot operations. This updated edition features detailed coverage of: Current high-roller marketing tactics and their effect on profitability The effect of popular money management systems on casino profits The initial development process of an Indian casino Studies designed to identify the patronage motives of gamblers, including those of riverboat customers Slot club design: player rating issues, point accumulation schemes, and more Principles of casino floor design: managing table game and slot location Studies designed to measure the profit contribution of popular slot promotions Casino Operations Management, Second Edition uses simplified mathematics and statistics throughout, and provides readers with a thorough understanding of all aspects of the casino industry business. It is a must-have reference for students and casinos that develop managers internally.

Full Product Details

Author:   Jim Kilby ,  Jim Fox ,  Anthony F. Lucas
Publisher:   John Wiley and Sons Ltd
Imprint:   John Wiley & Sons Inc
Edition:   2nd Edition
Dimensions:   Width: 19.20cm , Height: 2.60cm , Length: 24.10cm
Weight:   0.862kg
ISBN:  

9780471266327

ISBN 10:   0471266329
Pages:   416
Publication Date:   15 March 2004
Audience:   Professional and scholarly ,  Professional & Vocational
Replaced By:   9780470042854
Format:   Hardback
Publisher's Status:   Out of Stock Indefinitely
Availability:   In Print  
Limited stock is available. It will be ordered for you and shipped pending supplier's limited stock.

Table of Contents

Preface ix Chapter 1 THE HISTORY OF MODERN GAMING 1 Nevada: The Birthplace of Modern Gaming 1 The Wide Open Gambling Bill 2 The Bull Pen Casino 3 The Grandest Club in Southern Nevada 4 Big-Time Gambling 4 The Birth of the Las Vegas Strip 5 Bugsy 5 Howard Hughes 7 Modern-Day Las Vegas 8 Steve Wynn 9 Sol Kerzner 10 Chapter 2 GAMING CONTROL 13 History of Gaming Control in Nevada 13 Atlantic City Gaming 21 Indian Gaming 24 Chapter 3 GAMING TAXES 35 Gaming Taxes 35 Internal Control Systems 39 Differences Between Nevada?s and New Jersey?s Internal Controls 41 Chapter 4 CASINO MANAGEMENT 43 The Management Pyramid 43 Casino Organizational Structure 43 Casino Hotel Systems 49 Staffing 53 Chapter 5 CURRENCY REPORTING 61 History 61 Nevada?s Regulation 6A Model 63 Title 31 Reporting 74 Currency Transaction Reporting in Nongaming Areas 81 Chapter 6 CASINO CAGE, CREDIT, AND COLLECTIONS 83 Casino Cage 83 Casino Credit 84 Collections 103 Chapter 7 SLOT MANAGEMENT 107 Slots 107 Video Pokers 120 Floor Configuration 129 The Slot Floor Layout and Consumer Behavior 133 Elements of a Successful Slot Servicescape 134 Determining Slot Win 134 The Importance of Hit Frequency 135 Random or Pseudo-Random? 139 Chapter 8 INTRODUCTION TO TABLE GAMES 141 Dice 141 Roulette 150 Blackjack 151 Baccarat 156 Keno 158 Caribbean Stud 161 Let It Ride 163 Pai Gow Poker 165 Chapter 9 TABLE GAME OPERATIONS 167 Table Game Operations 167 Revenue and Profit per Square Foot 179 Betting Limits 184 Chapter 10 CASINO ACCOUNTING 193 Table Drop and Count 193 Slot Drop and Count 195 Key Control 197 Internal Audit 199 Casino Audit 201 Statistical Reports 204 Chapter 11 MATHEMATICS OF CASINO GAMES 207 Dice 207 Roulette 214 Blackjack 214 Baccarat 214 Keno 216 Chapter 12 ELEMENTS OF AN EFFECTIVE PLAYER RATING SYSTEM 219 Importance of Player Rating Systems 220 Actual versus Theoretical Win 220 Estimation of Average Bet and Time Played 221 The Player Rating System 221 Establishing Guidelines 233 Player Rating Systems 233 Chapter 13 TABLE GAME HOLD AS A MANAGEMENT TOOL 241 Uses of Table Game Hold 241 Determinants of Hold 241 Theoretical Win and Hold 245 High Table Occupancy May Be Hazardous to Profit 250 Chapter 14 CASINO MARKETING I 255 The Cost of Match Plays and Nonnegotiables 255 Match Play: Problems and Solutions 259 Gambler?s Spree 260 Dead Chips and Chip Warrants 267 General Slot Marketing 276 Consumer Choice Factors 279 Chapter 15 CASINO MARKETING II 283 Rebates on Loss 283 Player Action Criteria 294 Table Game Rule Modification as a Marketing Tool 295 Chapter 16 CASINO MARKETING III: THE PREMIUM PLAYER SEGMENT 301 Defining the Premium-Play Segment 302 Acquisition Costs Keep Going Up 302 Deconstructing the Premium-Play Segment 304 The Hidden Cost of Discounting 304 The Net Effect of a Premium Play 307 Quick-Loss?Rebate Policies 308 Costs of Competing for Premium Play 310 Discounts for Twenty-one Players 311 Discounts for Craps Players 312 Testing a Minimum-Play Constraint 312 Rationale Behind Discounting 313 Baccarat Discounting Recommendations 315 Dangers of Discounting 318 Chapter 17 SPORTS BOOK OPERATIONS 319 History 319 Sports Betting 322 Money Lines 324 Point Spread Betting 334 Chapter 18 RACE OPERATIONS 343 Betting at the Track 343 Types of Races 345 Types of Bets 346 Racing Terms 346 Regulatory Requirements 347 Race Book Operations 349 Chapter 19 CASINO STATISTICS 357 Population 357 Sample 358 Parameters and Statistics 358 Average or Mean 358 Median 359 Mode 360 Measures of Dispersion 360 Range 360 Variance 361 Standard Deviation 361 Weighted Average 364 Probability Distribution 365 Expected Value 365 Calculating the Standard Deviation with Uneven Betting 367 Sample Game Probabilities, Variances, and Standard Deviations 371 Our Worst Fears Realized??A Money Manager? 372 Appendix: Z Table 377 Glossary of Casino Terminology 379 References 391 Index 397

Reviews

Author Information

JIM KILBY is the Boyd Professor of Gaming at the University of Nevada, Las Vegas. He has more than 35 years of experience in all facets of casino operations and has served as a consultant to casinos throughout the United States, the Caribbean, Malaysia, Australia, and South Africa. JIM FOX is the Director of Nevada Destinations for Jefferson Wells International. A Certified Internal Auditor and Certified Fraud Examiner, he has over 20 years of experience in the gaming industry and is the instructor for the Auditing in the Gaming Industry class at the University of Nevada, Las Vegas. ANTHONY F. LUCAS, PhD, is a professor of gaming management at the University of Nevada, Las Vegas. Drawing on his 10 years of casino industry experience, Dr. Lucas has produced award-winning research articles in the area of casino marketing. He has also served as a consultant to many leading casino companies.

Tab Content 6

Author Website:  

Customer Reviews

Recent Reviews

No review item found!

Add your own review!

Countries Available

All regions