LEI Final Exam UPDATED QUESTIONS
AND CORRECT ANSWERS
Overview of Attractions - CORRECT ANSWER Attractions: (Drive Most Leisure
Travel)
-Entertainment
-Events
-Cultural
-Natural
-Recreation
Entertainment Attractions - CORRECT ANSWER Casinos
Amusement parks
Theme parks
Performing arts centers
Sports complexes
History of Gaming - CORRECT ANSWER -Elegant casinos (Monte Carlo etc.)
developed in mid 1800s
•Many other countries throughout the world have gambling
•In many countries, casinos are owned or controlled by the government
• Largely employed as an economic tool (jobs, income, taxes)
Modern Gaming - CORRECT ANSWER •Rebirth in Vegas during the Depression
• The Flamingo Hotel and Casino opened in 1946 (first elegant casino/entertainment/hotel:
largely the Hollywood crowd)
•Atlantic City - 1976
• Legalized casino gambling for economic reasons
•Riverboats - 1990s
• Laws vary (stay on dock, leave the shore, "cruises to nowhere")
,•Only 2 States continue to outlaw all gambling (Utah and Hawaii)
Indian (Native American) Gambling - CORRECT ANSWER •Permitted by federal
government in 1988 (Indian Gaming Regulatory Act: IGRA)
•Done largely to promote tribal economic development
•Foxwoods Resort Casino: Ledyard, CT (largest casino in the world)
Types of Casinos - CORRECT ANSWER •City-‐‐based mega casinos
• Las Vegas, Atlantic City
•Local-‐‐market casinos
• Tribal casinos
•Riverboat casinos
• Several States along the Mississippi River
•Racetracks
• Recently allowed to have table games and slot machines
Commercial Casino Industry Trends - CORRECT ANSWER -Increased international
presence
•Macau-‐‐ "Las Vegas of the East"
›2013 revenue= $45.2 billion (+19%; 7x Las Vegas)
-Growth of non-‐‐gaming amenities
•Spas, golf courses, theater-‐‐style shows, shopping, fine dining, etc.
Casino Terminology: Gamblers - CORRECT ANSWER •Grind Players (modest
gamblers)
• Play on a budget
• for example, $20 in chips through a series of $1 bets.
• Gambling in entertainment/losses are price of fun
•Premium Players (high rollers)
, • Bet in large amounts • Tend to have better understanding of the games in general
• Complementary rooms, meals, etc.
• Estimated that over $700,000 worth of comps are given away everyday in Las Vegas alone.
• Personal representatives can negotiate terms
Casino Marketing - CORRECT ANSWER •High end
•Middle range
• This is the core market!!!
• Comps up to 50% of losses • Gaming Junkets -‐‐ agree to gamble x amount
•Low end players
• Play slots, make the place seem full and exciting • Often day trippers • Casinos work hard to
keep them from walking down the
street to competitors
Casino Hotel Operations - CORRECT ANSWER •Subordinate to gambling operations
•VP of gaming operations and VP of hotel operations both report to President of the Hotel
•In many big properties VP of hotel runs rooms, F&B, and amenities only
•F&B is very important - quality/value
Amusement Park Industry - CORRECT ANSWER Amusement park
• A collection of amusement rides and other entertainment attractions assembled for the
purposes of entertaining a
fairly large group of people
World's oldest operating amusement park
• Bakken, north of Copenhagen, Denmark (1583)
History
•In the late 1800's, the growth of the industry shifted to America (Coney Island resort in New
York in 1895)
•By 1919, over 1,500 amusement parks were in operation
AND CORRECT ANSWERS
Overview of Attractions - CORRECT ANSWER Attractions: (Drive Most Leisure
Travel)
-Entertainment
-Events
-Cultural
-Natural
-Recreation
Entertainment Attractions - CORRECT ANSWER Casinos
Amusement parks
Theme parks
Performing arts centers
Sports complexes
History of Gaming - CORRECT ANSWER -Elegant casinos (Monte Carlo etc.)
developed in mid 1800s
•Many other countries throughout the world have gambling
•In many countries, casinos are owned or controlled by the government
• Largely employed as an economic tool (jobs, income, taxes)
Modern Gaming - CORRECT ANSWER •Rebirth in Vegas during the Depression
• The Flamingo Hotel and Casino opened in 1946 (first elegant casino/entertainment/hotel:
largely the Hollywood crowd)
•Atlantic City - 1976
• Legalized casino gambling for economic reasons
•Riverboats - 1990s
• Laws vary (stay on dock, leave the shore, "cruises to nowhere")
,•Only 2 States continue to outlaw all gambling (Utah and Hawaii)
Indian (Native American) Gambling - CORRECT ANSWER •Permitted by federal
government in 1988 (Indian Gaming Regulatory Act: IGRA)
•Done largely to promote tribal economic development
•Foxwoods Resort Casino: Ledyard, CT (largest casino in the world)
Types of Casinos - CORRECT ANSWER •City-‐‐based mega casinos
• Las Vegas, Atlantic City
•Local-‐‐market casinos
• Tribal casinos
•Riverboat casinos
• Several States along the Mississippi River
•Racetracks
• Recently allowed to have table games and slot machines
Commercial Casino Industry Trends - CORRECT ANSWER -Increased international
presence
•Macau-‐‐ "Las Vegas of the East"
›2013 revenue= $45.2 billion (+19%; 7x Las Vegas)
-Growth of non-‐‐gaming amenities
•Spas, golf courses, theater-‐‐style shows, shopping, fine dining, etc.
Casino Terminology: Gamblers - CORRECT ANSWER •Grind Players (modest
gamblers)
• Play on a budget
• for example, $20 in chips through a series of $1 bets.
• Gambling in entertainment/losses are price of fun
•Premium Players (high rollers)
, • Bet in large amounts • Tend to have better understanding of the games in general
• Complementary rooms, meals, etc.
• Estimated that over $700,000 worth of comps are given away everyday in Las Vegas alone.
• Personal representatives can negotiate terms
Casino Marketing - CORRECT ANSWER •High end
•Middle range
• This is the core market!!!
• Comps up to 50% of losses • Gaming Junkets -‐‐ agree to gamble x amount
•Low end players
• Play slots, make the place seem full and exciting • Often day trippers • Casinos work hard to
keep them from walking down the
street to competitors
Casino Hotel Operations - CORRECT ANSWER •Subordinate to gambling operations
•VP of gaming operations and VP of hotel operations both report to President of the Hotel
•In many big properties VP of hotel runs rooms, F&B, and amenities only
•F&B is very important - quality/value
Amusement Park Industry - CORRECT ANSWER Amusement park
• A collection of amusement rides and other entertainment attractions assembled for the
purposes of entertaining a
fairly large group of people
World's oldest operating amusement park
• Bakken, north of Copenhagen, Denmark (1583)
History
•In the late 1800's, the growth of the industry shifted to America (Coney Island resort in New
York in 1895)
•By 1919, over 1,500 amusement parks were in operation
