Hotels and Casinos in Las Vegas Research
For this to work, the shareholders in the industry and the authorities in charge have to work cooperatively. This would mean that information has to be freely shared and competition has to be controlled. Las Vegas is already known across the world for entertainment. This is a good selling point to stand on. In addition to this, there is the need to innovate new technological solutions to the emerging problems in the industry. Clark County reported this amount and over 42. 9 million visitors for that year as well which was the most in history. And with the progressive change of the hotel and casino industry with the incorporation of technology, revenue from gaming has increased by 4. 2% despite a decline in the number of visitors by 1.
1% in 2007. 8% market share, while Melco is at 2. 1%, Wynn at 2. 4% and Las Vegas Sands at 2. Most of these resorts have their stocks that trade every day which allows for the hotel to be sustainable on the stick exchange market as well as the gambling, hotel and tourism scene. Some of these resorts have suffered in business as a result of mass shootings and allegation so of sexual misconduct (Peters, 2018). Equipment vendors provide the necessary machines and gaming equipment to hotels and casinos for business to suffice. Technology companies offer services that are tech-oriented which create systems necessary to run all businesses. Finally, supervisor agencies are a part of the key stakeholders in the supply chain who offer regulatory and control services that maintain standards within casinos and hotels (Schofield, 2015).
Market stability is dependent on many factors such as security and consumer influx. This can be seen when cases of insecurity such as the mass shooting reduced the influx of customers to casinos and hotels which significantly reduced revenue. The IT budget for hotels and casinos in Las Vegas may appear to be reducing but management plans on investing more in technology in the coming years to improve service and functionality which will increase business and profitability. The estimated percentage of the total revenue that will be invested in IT will be more than the 3. 5% used in 2016. Most hotels, 57% will spend more in the coming years in IT while some (42%) will maintain the expenditure on IT while a mere 2% will reduce spending (Freed, 2017).
Applications and technology The deployed technology incorporated in casinos and hotels range from management systems, sales and booking systems, gaming systems to surveillance systems. Leading developers of the technology include a company such as Bally Technologies and Playersoft which is a software company responsible for the development of systems to be used in casinos and hotels. The core focus is on customer service and hospitality. They create a custom software management system for hotels and casinos that work with hardware components for gaming and room service to be able to handle operation and processes. These technology companies also offer maintenance services as well as upgrades to software and hardware units in order to move with technological advancements. Their products and services are affordable and secure which create more functionality with simplicity for staff to be able to use the system easily as a result of their user-friendly platform and interface.
Hence technology will be used to process and analyze data faster for quality services and conformity to industry standards. Future trends focus on innovations that engage customers in aspects such as mobile application, websites and social media channels. Interactive platforms for casinos and hotels allow for customers to get information and knowledge about the industry. Incorporation of LED screens and digital displays to advertise and provide information in hotels and casinos. LED is also incorporated interactively in hotel and casino chairs and table to engage customers who are gamers or just enjoying the hotel. Conclusion Tourism is a major economic pillar of Las Vegas. The increased number of tourists to a number greater than forty million annually raises an alarm. The concern raised is about the expansion of the available resources in Las Vegas to take care of the future needs in the industry.
Currently the tourism industry has stabilized. In order to sustain and eve improve the revenue earned from hotels and casinos, there are several technological improvements which need to be addressed. com/blogs/use-of-latest-digital-technology-in-casino-and-gaming-industry/ Freed, J. (2017, February 2). 7 facts about hotel technology spending. Retrieved from duetto: http://duettocloud. com/7-facts-hotel-technology-spending-2017/ Lewinski, J. aspx Moore, T. (2017, April 26). The four basic buckets of Vegas tourists, and what they are worth. Retrieved from Las Vegas Sun: https://lasvegassun. com/news/2017/apr/26/the-four-basic-buckets-of-vegas-tourists-and-what/ Okada, S. com/research/ibd-industry-themes/macau-gaming-revenue-growth-light-wynn-sands-other-casino-giants-near-key-support/ Ro, S. Las Vegas Hasn’t Been About Gambling Since 1999. Retrieved from: http://www. businessinsider. com/las-vegas-gaming-vs-non-gaming-revenue-2013-3?IR=T Rothberg, D. Why standards in information technology are critical. Retrieved from The Open Group: https://blog. opengroup. org/2011/07/05/why-standards-in-information-technology-are-critical/ Statista.
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