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Gaming Continues To Pay Off; As casinos open in more areas, gambling industry enjoys a lucrative run.(INDUSTRY SNAPSHOT)(LEISURE - GAMING AND EQUIPMENT)
Byline: BRIAN DEAGON
Las Vegas has a slogan: What happens in Vegas stays in Vegas.
That would include the billions left in slot machines and gaming tables each year.
Gaming casinos -- the operators no longer use the word "gambling" -- always ensure the betting odds are in their favor. And people who visit them know this, studies show. Visitors factor the cost of a hotel room, food and tickets for a show. Then they'll chuck another $500 in the wallet expecting to leave it behind -- and most of them do. They win some, lose some, and lose some more.
"People know the house has the advantage, but they still go for the entertainment value," said Joe Weinert, vice president of Spectrum Gaming Group, an international gaming consulting firm. "They put down that money hoping the next card dealt will be lower than the one they have in the hole."
1. Business
In Las Vegas, the world's gaming mecca, visitors gambled away about $5 billion in 2004. They also spent another $6 billion or more on rooms, drinks and other forms of entertainment. That ratio used to be just the opposite.
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