A Swot Analysis And Porter s Five Forces Model Of...

Abstract The casino industry is very important within the USA because of its size and the amount of yearly revenue it produces. Statistically, in 2009 alone, the industry alone produced approximately 30.74 billion. Also, the casino industry provides multiple job opportunities and helps build attractive places that encourage tourism, and bring revenue to states in different ways. However, this industry is currently facing multiple challenges due to competition among casinos, the construction of new casino locations, governmental regulations and the new technologies that are revolutionizing the gambling world. This report will analyze this industry by using a SWOT analysis and Porter’s Five-Forces Model of Industry Competition. Finally, in the concluding paragraph, an answer as to how to deal with the slower growth in gaming revenues will be provided. Case Study – Casino Industry in 2011 Las Vegas and Atlantic City casinos are used in the case study due to them being the two most popular places for gambling in the country. In order to have a general picture of this industry, a SWOT analysis can be conducted. In Strategic management, text cases seventh edition (2014), the authors provide that â€Å"SWOT stands for strengths, weaknesses, opportunities, and threats. It provides ‘raw material’- a basic listing of conditions both inside and surrounding your company† (p. 47). Furthermore, the definition of SWOT is expanded by explaining that â€Å"the general idea of SWOTShow MoreRelatedSwot And Analytical Tools : Business Analysis Tools1040 Words   |  5 PagesANALYTICAL TOOLS Business analysis tools are different techniques investors use to assess a company’s operations. In most cases, the purpose of the analysis is to determine how effective or efficient a company is in the overall market locally, nationally and globally. 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