Casino Operations Management / Edition 1

Casino Operations Management / Edition 1

by Jim Kilby, Jim Fox
     
 

ISBN-10: 0471163902

ISBN-13: 9780471163909

Pub. Date: 02/28/1998

Publisher: Wiley

Management personnel need a thorough understanding of the business side of the casino industry to ensure profits -- 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…  See more details below

Overview

Management personnel need a thorough understanding of the business side of the casino industry to ensure profits -- 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.

Product Details

ISBN-13:
9780471163909
Publisher:
Wiley
Publication date:
02/28/1998
Edition description:
Older Edition
Pages:
368
Product dimensions:
7.84(w) x 9.56(h) x 1.01(d)

Table of Contents

Prefaceix
Chapter 1The History of Modern Gaming1
Nevada: The Birthplace of Modern Gaming1
The Wide Open Gambling Bill2
The Bull Pen Casino3
The Grandest Club in Southern Nevada4
Big-Time Gambling4
The Birth of the Las Vegas Strip5
Bugsy5
Howard Hughes7
Modern-Day Las Vegas8
Steve Wynn9
Sol Kerzner10
Chapter 2Gaming Control13
History of Gaming Control in Nevada13
Atlantic City Gaming21
Indian Gaming24
Chapter 3Gaming Taxes35
Gaming Taxes35
Internal Control Systems39
Differences Between Nevada's and New Jersey's Internal Controls41
Chapter 4Casino Management43
The Management Pyramid43
Casino Organizational Structure43
Casino Hotel Systems49
Staffing53
Chapter 5Currency Reporting61
History61
Nevada's Regulation 6A Model63
Title 31 Reporting74
Currency Transaction Reporting in Nongaming Areas81
Chapter 6Casino Cage, Credit, and Collections83
Casino Cage83
Casino Credit84
Collections103
Chapter 7Slot Management107
Slots107
Video Pokers120
Floor Configuration129
The Slot Floor Layout and Consumer Behavior133
Elements of a Successful Slot Servicescape134
Determining Slot Win134
The Importance of Hit Frequency135
Random or Pseudo-Random?139
Chapter 8Introduction to Table Games141
Dice141
Roulette150
Blackjack151
Baccarat156
Keno158
Caribbean Stud161
Let It Ride163
Pai Gow Poker165
Chapter 9Table Game Operations167
Table Game Operations167
Revenue and Profit per Square Foot179
Betting Limits184
Chapter 10Casino Accounting193
Table Drop and Count193
Slot Drop and Count195
Key Control197
Internal Audit199
Casino Audit201
Statistical Reports204
Chapter 11Mathematics of Casino Games207
Dice207
Roulette214
Blackjack214
Baccarat214
Keno216
Chapter 12Elements of an Effective Player Rating System219
Importance of Player Rating Systems220
Actual versus Theoretical Win220
Estimation of Average Bet and Time Played221
The Player Rating System221
Establishing Guidelines233
Player Rating Systems233
Chapter 13Table Game Hold as a Management Tool241
Uses of Table Game Hold241
Determinants of Hold241
Theoretical Win and Hold245
High Table Occupancy May Be Hazardous to Profit250
Chapter 14Casino Marketing I255
The Cost of Match Plays and Nonnegotiables255
Match Play: Problems and Solutions259
Gambler's Spree260
Dead Chips and Chip Warrants267
General Slot Marketing276
Consumer Choice Factors279
Chapter 15Casino Marketing II283
Rebates on Loss283
Player Action Criteria294
Table Game Rule Modification as a Marketing Tool295
Chapter 16Casino Marketing III: The Premium Player Segment301
Defining the Premium-Play Segment302
Acquisition Costs Keep Going Up302
Deconstructing the Premium-Play Segment304
The Hidden Cost of Discounting304
The Net Effect of a Premium Play307
Quick-Loss-Rebate Policies308
Costs of Competing for Premium Play310
Discounts for Twenty-one Players311
Discounts for Craps Players312
Testing a Minimum-Play Constraint312
Rationale Behind Discounting313
Baccarat Discounting Recommendations315
Dangers of Discounting318
Chapter 17Sports Book Operations319
History319
Sports Betting322
Money Lines324
Point Spread Betting334
Chapter 18Race Operations343
Betting at the Track343
Types of Races345
Types of Bets346
Racing Terms346
Regulatory Requirements347
Race Book Operations349
Chapter 19Casino Statistics357
Population357
Sample358
Parameters and Statistics358
Average or Mean358
Median359
Mode360
Measures of Dispersion360
Range360
Variance361
Standard Deviation361
Weighted Average364
Probability Distribution365
Expected Value365
Calculating the Standard Deviation with Uneven Betting367
Sample Game Probabilities, Variances, and Standard Deviations371
Our Worst Fears Realized--"A Money Manager"372
AppendixZ Table377
Glossary of Casino Terminology379
References391
Index397

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