Industry business model paper Essay Example | Topics and Well Written Essays - 2000 words

Industry business model paper - Essay Example Some fifty million Americans gamble each year, betting anywhere from $30 billion to $100 billion, depending upon the estimate one chooses. The vast majority of this money is wagered illegally. Many states, however, are now stampeding to legalize lotteries, approve new racetracks and set up off-track betting! By early 1974, eight states were operating lotteries, with at least four others about to open for business. New York city began legalized Off-Track Betting (OTB) in 1971, and many other places, too, may soon do so. Also, New Jersey, Maryland and Hawaii are said to be considering joining Nevada in legalizing casino gambling. Yes, gambling is indeed a huge industry that is largely growing around the world today. For this particular reason, business organizations are actually becoming more interested in investing in gambling industries at present. For them, the said approach to business may indeed be risky, but the returns from the said challenging risks are all worth it. Among the business entities that were able to identify this particular truth behind the worldwide gambling industry’s progress towards the future is that of the Mandalay Business Corporation. The Mandalay Resort Group has invested a $1billion business entity to establish the Mandalay Bay Resort and Casino in Las Vegas. This particular investment has actually made a great impact in bringing in a tropical resort theme in the middle of the wild luxurious gambling industries. This particular resort holds at least 3,700 rooms within it vicinities and several huge function rooms within the area which are all made for gaming, dining and entertainment options that are considered as the main life of the said resort operations. Hotels are mainly establishment who accommodates people who needs housing due to traveling reason and those who are searching for temporary residence. Since they establishments are known for