A casino is an establishment for gambling. The modern casino is like an indoor amusement park for adults, with music shows, lighted fountains, shopping centers and elaborate themes helping to draw in the crowds. But the vast majority of revenue (and profits for the owner) still comes from games of chance, like slot machines, blackjack, craps, roulette and baccarat.
Casinos have to work hard to keep people betting. They advertise their promotions and rewards programs, provide free drinks and food, offer luxury suites, clubs and concerts to entice gamblers to stay longer, and invest in high-tech security systems that monitor patrons and employees for signs of cheating or criminal activity. The most popular casinos are located in Las Vegas and Atlantic City, where they often combine with hotels, resorts, restaurants, retail shops and other tourist attractions.
Every casino game has a built-in advantage that ensures the house will make a profit, called the “house edge.” This gives casinos a virtual guarantee of gross profit even when nobody wins a single game.
But the mob had lots of cash from its drug dealing, extortion and other illegal rackets. So it became the biggest supplier of capital for casinos in Nevada and Las Vegas. But federal crackdowns and the risk of losing a gaming license at the slightest hint of mob involvement caused legitimate businessmen to take over casinos. Hotel chains and real estate investors bought out the mobsters, and the casinos moved from the shadows into the bright lights of the Strip.