Casino Management UPDATED Exam Questions and CORRECT Answers
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Course
Casino Management
Institution
Casino Management
Casino Management UPDATED Exam
Questions and CORRECT Answers
Gambling - Correct Answer- to play a game for $$ or something of value; involving a risk or
uncertainty
Gaming - Correct Answer- action or habit of playing at games of chance for stakes (activity
permitted by law)
Types of US Gam...
Casino Management UPDATED Exam
Questions and CORRECT Answers
Gambling - Correct Answer- to play a game for $$ or something of value; involving a risk or
uncertainty
Gaming - Correct Answer- action or habit of playing at games of chance for stakes (activity
permitted by law)
Types of US Gaming (7) - Correct Answer- Charitable gaming, Commercial casino gaming,
Native American Casinos, Lotteries, Pari-mutual gaming, Sports betting, & iGaming
Charitable gaming - Correct Answer- card rooms
Types of Commercial casino gaming (3) - Correct Answer- Land-based, River boat casinos,
& Race track casinos (Racinos)
Racinos - Correct Answer- Race track casinos
Lotteries - Correct Answer- 1964, first lottery legally operated in NH iLottery
UNLV - Correct Answer- Center for Gaming Research
Gaming revenue in Nevada - Correct Answer- 42.78%, rooms, food and beverage accounted
for 57.6 percent of revenue, the highest combined share recorded in the abstract's history
Clark County, Las Vegas GGR - Correct Answer- Slots highest (63.4%), then table games
(32.6%)
LVCVA - Correct Answer- Las Vegas, Convention and Visitors Authority
Gamblers in Las Vegas over 21 - Correct Answer- 74% gambled
,Where Visitors Gamble in LV - Correct Answer- Strip Corridor (89%), downtown (40%),
Boulder Strip (2%), North LV (2%), Outlying Areas (1%)
Hours of Gambling in LV - Correct Answer- Among those who gambled while in Las Vegas,
77% gambled for 2 hours or less, up significantly from each of the past four years, 3-4 hours
(17%) down, average time/day 1.6 hours down
AGA - Correct Answer- American Gaming Association
Spending on games has been declining & other non-gaming amenities are becoming popular -
Correct Answer-
igaming and sports betting are new types of (legal) gaming - Correct Answer-
Lotteries was a popular form of raising money - Correct Answer-
GGR had steadily been increasing after the great recession - Correct Answer-
2300 B.C. - Correct Answer- First accounts of gambling in China, Japan, Greece, Rome and
Egypt
1700s - 1800's - Correct Answer- Fashionable dice game, "Hazard" played by wealthy
English aristocrats. Bet everything from coins to family silver. Americans learn from French
who learn from English and the game evolves to modern-day "Craps".
1765 - 1806 - Correct Answer- Massachusetts authorizes lotteries to help build dormitories
and buy equipment for Harvard College.
1964 - Correct Answer- First legal lottery operated in New Hampshire
1989 - Correct Answer- Mirage opens in LV, starting a new era of the destination casino
resort (the most expensive casino in history-$630 million in construction costs)
, 1991 - Correct Answer- First state to introduce riverboat casino gambling on Mississippi was
Iowa.
1992 - Correct Answer- First racino in Rhode Island
Multiplier - Correct Answer- unique features found within slot machines that carry with them
the capacity to multiply your winnings by a predetermined figure
Leakage - Correct Answer- (ownership of company, customer basis)
Postitive Economic/Social Impact - Correct Answer- Direct and indirect employment, spin-
off development, & taxes-tax relief
Tax rates - Correct Answer- Tax rates range from 6.75% on gross gambling revenue (GGR) in
Nevada up to 50% in Illinois for commercial casinos
Indian Casinos (taxes) - Correct Answer- No collection of taxes for Indian casinos, Social
impacts included health, educational and cultural benefits
CRDA (Atlantic City) - Correct Answer- Casino Reinvestment Development Authority
Mission of CRDA of Atlantic City - Correct Answer- •Shall provide capital investment funds
for economic development and community projects that respond to the changing economic
and social needs of Atlantic City and the State of New Jersey. It shall encourage business
development and permanent job creation, promote opportunities for business expansion, and
commit to facilitating a vibrant economic investment and employment environment for New
Jersey.
Legal bookmaking - Correct Answer- sports betting only legal in Nevada, Delaware, Montana
and Oregon
GGR - Correct Answer- Commercial casinos, indian casinos (tribal), and lotteries
Problem gambling - Correct Answer- A mental disorder characterized by a continuous or
periodic loss of control over gambling, a preoccupation with gambling and with obtaining
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