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How the gaming industry has changed over the last 2 decades

Posted by : Admin

In a few words: The gaming industry has become almost unrecognizable to those who remember the smaller gambling rooms of Las Vegas in the ‘50s and ‘60s. Major changes were made during the 1970s and 1980s, of course, primarily because Native American tribes began operating gaming businesses on reservation land.

Whether the changes made since 1991 have been more or less significant than the changes of previous decades is still in doubt. In this limited space we can only address some of the changes made since the late 1980s and early 1990s. Federal legislators passed the Indian Gaming Regulatory Act in 1988, a law that defined how the casinos would be operated and supervised.

This new legislation was the springboard for amazing growth in Native American gaming. One study shows that the $100 million industry grew to a multi-billion dollar industry by 2006!

The word “tolerance” explains a lot about the growth of gambling in the past 20 years. Many more people accept gaming as a fact of life than accepted gambling in the middle of the 20th century. However, the growth of gambling has also led to greed and corruption (naturally). Thus, the industry has become more stringently regulated.

Most serious observers of the gaming industry feel that we are in a gambling trend that actually began about 70 or 80 years ago. It seems that this trend started when some states recognized the revenue potential in gambling. Lotteries were a huge part of this revenue increase, though casino gambling certainly played a part in the growth.

The changes in the past 20 years have primarily come from: the introduction of legalized gambling in eight states; the growth of riverboat gambling; the increase in the number of Native American casinos; and the major overhaul of Las Vegas, with an emphasis on entertainment and family amusement.

In addition to the massive growth in “live” gambling, the online industry now generates millions of dollars each year.

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4 Responses to “How the gaming industry has changed over the last 2 decades”

  1. Tracy Gillespie says:

    My siblings and our mother meet up at the Hard Rock Casino a few times a year. We all have a certain amount of cash we bring and when it’s gone we stop. It’s just something fun to do and I am glad there are more places to go now because I used to drive all the way to Mississippi to the boats to gamble.

  2. Robert says:

    I have never been in a professional casino, but I like the allure of them. I do play the lottery religiously hoping for the big pay out, but I know that with the lottery I’m not going to lose my savings in a night.

  3. Alison Blair says:

    Growing up the only gambling I ever herad of was Vegas…and that was on T.V. Now, it seems it’s everywhere I think so because of the money it generates. Governments want money, and I think that is partially the reason cigarettes have never been banned, because to the taxes they generate.

  4. Harry Kent says:

    If this started about 70 – 80 years ago that would put around the end of WWII. I just don’t remember ever learning about much gambling back then, at least not until around the 60′s. I think I’m going to look into this more. Thanks.