MADM725 Exam Rated A+ 2025 New Update

MADM725 Exam Rated A+ 2025 New Update When was Las Vegas founded? - Answer- 1905, as a railroad town. Its stint as a small western town was short lived - A strike idled the line; many businesses caved. Investors desperate to save the town dreamed up crazy schemes; dude ranch for divorcees, golfing, county fairs. 1890 - Nevada was the lowest populated state in the union. Sin kept Nevada going in prohibition America. When was gambling legalized in Nevada? - Answer- March, 1931 Las Vegas labeled itself... - Answer- The gateway to the boulder dam (Hoover Dam). 100,000 people made their way to the dam in 1932. President Roosevelt visited in 1935. Dam workers all left. Monte Carlo - Answer- A sunny place for shady people The Comstock Lode - Answer- The Comstock Lode is a lode of silver ore located under the eastern slope of Mount Davidson, a peak in the Virginia Range in Virginia City, Nevada, which was the first major discovery of silver ore in the United States and named after American miner Henry Comstock. Casinos - Early History (1800's) - Answer- 1859: Comstock Lode 1869: Legalization NV's First Casinos William Clark's RR Casinos - Criminalization (Early 1900's) - Answer- 1909: Illegal (again) 1913: Nickels Legal 1929: Crash and Great Depression Boulder Dam Project Casinos - Early Nevada Casinos (1930's) - Answer- 1931: NV AB 98 Pass 1st Casino Licenses Northern Club Las Vegas Club Prostitution, Block 16 Casinos - Birth of the Strip (1940's) - Answer- 1941: El Rancho 1942: Last Frontier 1947: Flamingo 1948: Thunderbird Casinos - Racial Tensions (1950's) - Answer- 1951: Binion's Horseshoe 1955: Moulin Rouge LV's First Integrated Casino Focus on Entertainment Opened May 1955, Closed October 1955 Casinos - Themed Resorts (1960's) - Answer- 1966: Caesars Palace 1968: Circus Circus First Themed Resorts Emergence of Howard Hughes, "First Clean Businessman in LV" Casinos - End of an Era (1970's) - Answer- Poor economic conditions in the east Las Vegas' Monopoly on Legal Casinos Ends First Atlantic City Casinos: 1978: Resorts Int'l 1979: Bally's Park Pl Caesars Regency Casinos - Expansion (1980's) - Answer- 1988: Indian Gaming Regulatory Act (IGRA) 1989: Deadwood, SD - - - - - - 1989: Mirage Las Vegas marks shift to non-gaming amenities Casinos - More Growth (1990's) - Answer- Riverboat Gambling in Iowa, Illinois, Louisiana and Colorado 1992: Foxwoods 1996: Mohegan Sun MGM Grand, Luxor, Stratosphere and Bellagio Las Vegas Casinos - Shifting Industry (2000's) - Answer- 2000: MGM-Mirage merge 2005: MGM buys Mandalay 2005: Harrah's acquires Caesars to form world's largest gaming company 2006: PA legalizes casinos 2008: MD legalizes casinos 2009: DE expands gaming Emergence of Macau; beats LV in gaming revenue in '06 Casinos - Great Recession & Recovery () - Answer- 2010: Cosmopolitan of Las Vegas Opens 2010: Harrah's changes name to Caesars 2014: SLS opens on former site of Sahara 2014: 4 Atlantic City Casinos close permanently Casinos - (2018---) ReBirth and Growth of Mobile, eSports and Sports Betting - Answer- May 2018: US Supreme Court overturns Professional Amateur Sports Protection Act, the law that limited legalized sports betting to just a few juridictions June 2018: Legalized sports betting in Delaware, New Jersey, West Virginia, Mississippi, and Rhode Island June 2018: Two previously closed AC casinos reopen as Ocean Resort and Hard Rock Industry shifts to more skill based games to lure millennial gamblers who are less interested in traditional games of chance than previous generations What two states allow no gambling? - Answer- Hawaii, Utah Moulin Rouge - Answer- First integrated hotel/casino in Vegas; added 3rd nightly show Moulin Rogue Agreement - Answer- Agreement struck between mayor, NAACP, and hotel owners that lifted Jim Crow restrictions throughout all restaurants, hotels, casinos, and bars in Las Vegas. Pressure applied from black entertainers and strikes threatened by NAACP for hotel workers spurred action. Wide Open Gambling Bill - Answer- Hoped to reinvigorate economy following the 1929 crash by legalizing gambling. Assemblyman Bill Tobin hoped this would provide economic relief. 1. It would provide gaming taxes. 2. It would bolster business in general. 3. It would ensure the federal government would not interfere in illegal gambling if the state made it legal.