We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

See Pricing

What's Your Topic?

Hire a Professional Writer Now

The input space is limited by 250 symbols

What's Your Deadline?

Choose 3 Hours or More.
2/4 steps

How Many Pages?

3/4 steps

Sign Up and See Pricing

"You must agree to out terms of services and privacy policy"
Get Offer

High Competition in the Casino Industry

Hire a Professional Writer Now

The input space is limited by 250 symbols

Deadline:2 days left
"You must agree to out terms of services and privacy policy"
Write my paper

Competition in the Casino Industry has been intensified since the business landscape has changed tremendously. Changes in the industry include the increasing legalization of gambling activities and the alternatives available in the industry such as internet gambling and the waterborne casinos. The first issue which affected the competition in the casino industry is the legalization of gambling activities. This has affected the threats of the new entrants since more businesses is able enter the industry without the law restrictions.

However, although it is relatively easier to enter into the industry, but the large amount of capital required for building a casino and the current companies in the industry poses certain issue for new entrants.

Don't use plagiarized sources. Get Your Custom Essay on
High Competition in the Casino Industry
Just from $13,9/Page
Get custom paper

Thus, the threats for new entrants remain relatively medium. Comparatively, the bargaining power of buyers is considered medium. Although there are several other forms of gambling games available; such as Orlando, New York, Native American Casinos and waterborne casinos, but all these belongs to different sector of the industry.

In general, these various casinos cater to different types of visitors.

Furthermore, visitors have little say in the pricing of the casinos thus, bargaining power of buyer can be considered medium. Contrastingly, the bargaining power of supplier in the industry is low. The only supplier in which casinos may have can be related to the normal furnishing of the casinos and perhaps the food supplies. However, bargaining power of supplier is relatively low since the casinos are still relatively dominant and they have more advantage over the small suppliers. The most prevalent issue in the case is the threats of Substitutes.

Since the legalization of the law, more gambling and other form of gaming is also flourishing across the nation. Gaming on tribal lands had attracted customers to patronize. Furthermore, gaming machines at racetrack, internet gambling, waterborne casinos are also on the rise. Thus the threats of substitutes are relatively high. Lastly, the competitive rivalry in the industry is seemingly high. As illustrated, most of the casinos are undergoing facelift and trying to outdo each other in terms of the luxury, the size and the offerings they provide.

Other gambling business such as the waterborne casinos is also in the competition in offering a lower cost for their gaming facilities. Moreover, the Native American tribes are also offering unique gambling experiences at their tribal island. Thus, the massive influx of competitors increases the competitive rivalry and thus it is considered high. In a nutshell, threats of substitutes and competitive rivalry appear to be the highest threat and the bargaining power of suppliers is relatively low.

Reviewing the five forces, competitive climate is vicious. Consumers have more choices of gaming to choose from and this forced companies the need to constantly improve and innovate on new incentives to provide customers to gain loyalty. Thus, companies require strong financial structure in order to remain competitive. Casino industry still remains a lucrative business, as long as company is able to build their empire and captivate the needs and wants of consumer, they will be able to emerge winner in this industry.

Cite this High Competition in the Casino Industry

High Competition in the Casino Industry. (2018, Mar 11). Retrieved from https://graduateway.com/casino-industry-essay/

Show less
  • Use multiple resourses when assembling your essay
  • Get help form professional writers when not sure you can do it yourself
  • Use Plagiarism Checker to double check your essay
  • Do not copy and paste free to download essays
Get plagiarism free essay

Search for essay samples now

Haven't found the Essay You Want?

Get my paper now

For Only $13.90/page