GAMBLING SWOT ANALYSIS
The Gambling Industry
Javier Seda
Companies in the gambling industry include those that offer gambling or gaming activities. These may be casinos, casino resorts and hotels, betting and lottery companies. Though legally restricted by many governments all over the world, gambling industries are a major source of revenue to the government. The gambling industry has also helped in eradicating unemployment as it has created new job opportunities and often with higher wages. Major gambling companies in this industry globally are MGM Resorts, William Hill, Caesars Entertainment and Las Vegas Sands among others.
The gambling industry is one of the most competitive and risky industries all over the globe. The demand for gambling is influenced by consumer income growth and state spending (“Hoovers”, n.d). Effective operations and marketing strategies of individual companies in this industry determines the profit rates and levels of the companies. Large gambling operators in this industry can be able to make large investments in gambling facilities and efficient computer operations, and are also exposed to cross-marketing opportunities (“Hoovers”, n.d). Small gambling operators, on the other hand, are not well exposed like the large gambling operators. They operate in their local areas and centers where the locals may not afford travel to major gambling facilities.
SWOT Analysis
Strengths
The gambling industry has distribution and sales network that enable them to reach everybody. These networks allow the firms to distribute their products and services effectively. The management in the gambling industry is growing as the employees are receiving training. Lower costs in products lead to higher profits to the gambling industry.Technology acts in favor of the gambling industry as they enable them meet the needs of their customers (Jueves, 2013). Unique products of the gambling industries enable them to differentiate themselves for their competitors. High tax and fee
Javier Seda
Companies in the gambling industry include those that offer gambling or gaming activities. These may be casinos, casino resorts and hotels, betting and lottery companies. Though legally restricted by many governments all over the world, gambling industries are a major source of revenue to the government. The gambling industry has also helped in eradicating unemployment as it has created new job opportunities and often with higher wages. Major gambling companies in this industry globally are MGM Resorts, William Hill, Caesars Entertainment and Las Vegas Sands among others.
The gambling industry is one of the most competitive and risky industries all over the globe. The demand for gambling is influenced by consumer income growth and state spending (“Hoovers”, n.d). Effective operations and marketing strategies of individual companies in this industry determines the profit rates and levels of the companies. Large gambling operators in this industry can be able to make large investments in gambling facilities and efficient computer operations, and are also exposed to cross-marketing opportunities (“Hoovers”, n.d). Small gambling operators, on the other hand, are not well exposed like the large gambling operators. They operate in their local areas and centers where the locals may not afford travel to major gambling facilities.
SWOT Analysis
Strengths
The gambling industry has distribution and sales network that enable them to reach everybody. These networks allow the firms to distribute their products and services effectively. The management in the gambling industry is growing as the employees are receiving training. Lower costs in products lead to higher profits to the gambling industry.Technology acts in favor of the gambling industry as they enable them meet the needs of their customers (Jueves, 2013). Unique products of the gambling industries enable them to differentiate themselves for their competitors. High tax and fee
References: Hoovers. (n.d). Gambling Report Summary. Retrieved from http://www.hoovers.com/industry-facts.gambling.1431.html Martin Baird. (2002). Seven Keys to Improving Casino Guest Service. Retrieved from http://www.urbino.net/articles.cfm?specificArticle=Seven%20Keys%20to%20Improving%20Casino%20Guest%20Service Jueves. (2013). Casinos in the World: SWOT Analysis. Retrieved from http://casinosintheworld.blogspot.com/2013/02/swot-analysis.html Responsible Gambling Strategy Board. (2012).Responsible gambling strategy prioritises its focus for the next three years. Retrieved from http://www.rgsb.org.uk/press-releases/responsible-gambling-strategy-prioritises-its-focus-for-the-next-three-years.html Ministry of Public Safety and Solicitor General. (2011). B.C.’s Responsible Gambling Strategy and Three Year Plan (2011/12 – 2013/14). Retrieved from https://www.gaming.gov.bc.ca/reports/docs/plan-rg-three-yr-2011-2014.pdf