How the Casino Business Has Changed
The casino business has changed a lot since the days of "Bugsy" Siegel and Frank "Lefty" Rosenthal. The smoke that once filled the casino floor has lifted, and we can now see a new set of games filling the floor -- games that are advantageous to the house but lose some of the old luster of gaming.
If casinos wanted, they could go almost all-electronic these days. Here are a few of the noteworthy developments in recent years:
- International Game Technology (NYS: IGT) recently announced partners for its new cloud computing management system. It allows casinos to manage game content and maximize performance in their casinos.
- Casinos like Las Vegas Sands' (NYS: LVS) Marina Bay Sands have begun using RFID chips from companies like Gaming Partners International to enhance security of their chips.
- It once was about the touch of the felt when gamblers were playing everything from blackjack and craps to poker, but Shuffle Master (NAS: SHFL) is trying to change all of that with electronic table games. The company offers blackjack, roulette, and a number of other electronic games that have changed the look of the casino floor.
- But maybe the biggest change is the advent of mobile gaming. IGT has a mobile gaming system that allows gaming from your mobile phone, a drastic change from the old casino days. The Venetian is offering some mobile gaming with its Pocketcasino gaming system.
These changes to the casino may lose some of the old feel of gaming, but they wouldn't be on the floor if they weren't good for the casino. If there's no dealer, there's no benefits to pay, and with automatic shufflers and other technologies, it's harder to gain an advantage over the house.
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At the time this article was published Fool contributorTravis Hoiumhas sold put options in Melco Crown. You can follow Travis on Twitter at@FlushDrawFool, check out hispersonal stock holdingsor follow his CAPS picks atTMFFlushDraw.The Motley Fool owns shares of International Game Technology. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.