Gambling Swot Analysis

SWOT and Strategy Evaluation Paper

Eric Hunt

PHL/320

February 29, 2016

Sherrie Bedford

GAMBLING SWOT ANALYSIS

 These days there are many companies that are involved in gambling. Worldwide, gambling generates more revenue than movies, sports, theme parks, cruise ships, and even recorded music. There are major gambling markets such as in the US, but Indian gambling has become the fastest growing industry in the world. There are 150 Indian casinos in the US as of May 1997. Also, is it said that 87% of those who visit Las Vegas go to gamble. There are about 40 states that contribute annual revenue of $85 billion. When you walk in to a casino your eyes light up because there are so many things that you can do. Many casinos offer free drinks, and some even have live entertainment for you to enjoy while playing. From the very moment you enter you just know you will have a night of fun, fun, fun!

Strengths

When we think about small gambling businesses usually we don’t expect them to generate as much business, but see that’s where we are wrong. There are many people who love to gamble but they don’t have all of the resources to travel to the big cities. This is where small gambling business make their profit. Another thing that makes a casino strong is when there is strong management and employees which really make the casino thrive and reach its true potential. Good attitudes and vibes makes customers want to keep coming back. Other accommodations such as, entertainment, food, hotel stay, and drinks makes customers stick around a little linger as well. Whichever game you play be it hitting the card tables, craps, roulette or slot machines you can be sure you will be expecting great courtesy and a positive attitude by any means necessary. Something else that is taking place and growing is online gambling.

Weakness

One thing that will weaken a casino would be the fact that  their cost structure is weak. When I say the structure is weak I mean that the cost are higher then the competitiors. This could potentionally become a huge problem. Once customers get wwind of cheaper prices that where they tend to flock to, leaving the one casino to loss profits. This could end up having a long term effect on the company. With any business you need strong communication and without it things would start to fall apart.  A thin supply chain can also put a major delay the entrance of products to Casino’s clients. When customers are used to certain things when coming into a casino you should always have things in order so that your customers stay happy. A lack of scale indicates a very high product output cost per unit. The growing volume, while maintaining quality, would assist reduce those costs. Internet gambling especially online poker has relished a rise in fame and has become very popular. Many casinos offer markers or personal warranties that clients are good for their debts. Although most consumers must settle up before they leave the casino, some companies may make exceptions for certain players.

 Opportunities

New games and models are cosmetic variations on existing games, which means new games are getting to be introduced. Everyday Gambler Rewards in the casino has been driven partly by operators so that multiple gambling agencies can be advertised. The explosion of the casino and other gambling operations on an Indian reservation has generated opportunities for existing businesses so that they will be able to sell their operational skills. Swift gambling revenue increase is Macau in current years has encouraged other countries in Asia/Pacific region to think through the expansion of gambling laws. With the Continued growth in gaming that could mean additional profits for traditional casino managers that offer online games under their brands. Gambling growth could also mean the new development of opportunities for other markets. Singapore had two big wants the time it decided to allow casinos: a top notch theme park and a world-class convention center. The park’s 15millionth guest since its March 2010 opening crossed the threshold in August. The resort added Marine Life Park at the end of 2012, which consist of a water park and aquarium along with a maritime museum. Last year, the resort calculated 6.7 million guests at its attractions. Casinos are pampering naturally; customers will always be the primary priority of the staff, and this comes with a very nice setup of complimentary treats. Most times your drinks are in the house, you will be welcomed to the buffet and with time these gifts may extend to free accommodation, tours and about anything you can imagine.