Casino Operations
Essay title: Casino Operations
Pricing
The Lakeside Casino Resort deals a lot with selling items as well as experiences. Every aspect of running the casino as well as all the other operations that keep the casino running has to be priced right and reasonable, from playing the casino games to ordering the food for the Wheelhouse Buffet.
Casino Floor:
Every game on the casino floor has to be purchased from a dealer. A blackjack table alone costs between $1,500 to $4,000 dollars, and on the floor there are 8 tables. Other games such as Three Card Poker and Let it Ride cost around $2,000 and the big tables such as roulette and craps cost $5,000 with the casino having 2 of each. All in total, the casino floor tables cost the casino $24,000. An investment that we think would help in our pricing for the casino floor would be reversible table covers, where a game can be changed to fit the popularity of the gamblers. This would cut the costs of the casino tables by a significant margin. Another big item on the casino floor is the slot machines. These are a huge revenue maker; each slot machine will bring in hundreds of dollars. A slot machine cost ranges from $1,000 to $3,000 and the casino floor has hundreds or slot machines spread around the casino in strategic locations. The slots machines vary in price from$10, $5, $2, $1, 25 cents 5 cents to 1 cent.
Located in the casino is a bar. This bar can generate good revenue for the whole operation if the pricing is right. Drinks range from beer and wine to whiskey and vodka. Drink prices vary from $1.50 to $5 depending on the amount of alcohol content.
How to Make the Money:
The pricing of the casino has to be elevated in different levels for the costumers. Each gaming table has different prices to play and to have payback. The object