Casinos Owned By Corporations Tend to Be Better Known and More Lavish Than Those Owned by Individuals
Corporate versus Individually Owned Casinos
Most casinos are owned and operated by corporations, like Harrah’s or Caesar’s or MGM Grand. When the corporation builds a casino in a new city, what they bring is a brand name and reputation. For some corporations, casinos aren’t their main business, but a particular opportunity happened along and the casino was built under their management. A quick look at the New York Stock Exchange shows a good number of casinos with public holdings.
However, some casinos remain owned by individuals or families (this would include Donald Trump, who is the sole stockholder to Trump Casinos Inc.).
Both corporate and individually owned casinos are required to follow state regulations. They must follow the same state guidelines for game odds and rules. For the most part, both corporate and individually owned casinos are large hotel/casino combinations, with the same types of offerings. Without knowing in advance, it would often be hard to tell the type of ownership from the casino itself (indeed, most people think of Donald Trump as a corporation rather than an individual, so the lines between corporate and individual are often blurred).
The biggest difference between corporate and individually owned casinos is in the number. Corporate casinos are well-known names that can be found all over the world. When the general public hears the name, it knows automatically that the establishment is a casino. Names like Harrah’s and Caeser’s and Bellagio don’t need to add “casino resort” or a gambling term in the name for people to know what is being talked about. Corporate casinos, then, have a reputation. Patrons expect certain amenities and a certain standard of excellence whenever visiting one of these establishments. Individually owned casinos tend to be original and, with only a few exceptions, found in only one location.
The names often have a gambling term in the name to advertise itself as a casino. Smaller, individually owned casinos will take a different approach when it comes to special offers and incentives. Some casinos are owned by local organizations, as well. These casinos tend to offer less than the bigger names or long-established casino owners. They have fewer games and lower-billed entertainment.