Mobile Gambling Is A Multi Billion Dollar Business

Introduction Mobile gambling is a multi-billion dollar business. Companies world-wide are competing for customers’ dollars, from large established casinos to smaller upstarts. Many people are now finding it more convenient to wager via online casinos, instead of stepping inside a casino or other physical gaming location. Mobile devices have further simplified the process for these gamblers and gaming â€Å"apps† now act as a catalyst for betting online. According to BlackJack Champ, an online guide to mobile casinos, â€Å"The latest trends show about half of the world’s population engages in some form of gambling every year, and smartphones have literally brought mobile casino games to our fingertips, making gambling more accessible than ever†¦show more content†¦Industry Structure There are 1,511 casinos in the United States, generating annual revenue of over $65 billion (Statista). Casino gambling is legal statewide throughout Nevada and Louisiana, with 50% of the US casino hotels operating in Nevada alone. In the other 20 states where casinos are legal, they are restricted to certain areas, such as American Indian Reservations (Alvarez 19). There are several different kinds of casinos, including Las Vegas-style, dockside (built on barges), riverboats, card rooms, and racetrack casinos (Vault). The two largest gaming companies, in terms of market share, are Caesars Entertainment Corporation (13.6%) and MGM Resorts International (11.2%). Caesars owns 49 casinos in eight states and employs 70,000 workers. MGM owns 15 casinos in four states and Macau, China and employs about 61,000 people (Alvarez 25). As previously mentioned, 20 other states allow some form of casino gambling. This includes states that surround former strongholds, like Atlantic City, New Jersey. However, recent state legislation allowing casino gambling in surrounding states such as Pennsylvania, have caused revenue to drop by almost half in Atlantic City, causing many casino properties to close (Alvarez 19). Competitive Strategy Competitive strategy is an organization’s long-term plan used to remain competitive in the