The Unethical Practices Of Casinos - 2880 Words

The Unethical Practices of Casinos When walking into â€Å"The Strip† in Las Vegas, an instant feel of excitement rushes up. The flashy neon lights paired with glimpses of amazing acrobatics on gigantic screens easily brings up the energy of tourists, businessmen, and gambling addicts. You may wonder how a once stranded desert can transform into such a paradise of skyscrapers. The answer lies in casinos. In the early 1930s, gambling was legalized throughout the state of Nevada and casinos began to flourish (Dunstan, 1997). The economic growth in Nevada, especially the city of Las Vegas, has improved tremendously by the creation of casinos. Many people were employed since the operation of casinos requires a huge amount of labor, skill, and expertise. In addition, local retail sales also increased from casinos when gamblers visit the stores to spend their winnings on various items and products (Garrett, 2003). As a result, many state governments began to legalize casinos in order to boost their economies and increase employment. As of today, there are roughly 1500 casinos in the United States and they generate almost 65 billion dollars in revenue (â€Å"Facts on U.S Casinos† 2013). However, casinos use immoral methods to achieve this incredible feat of big profit with few government interventions. While the city of Las Vegas becomes more prosperous than before, many citizens los e their fortunes or even lives by the immoral business practices implemented by the casinos. Even though theShow MoreRelatedControl at Sands1673 Words   |  7 PagesThis report seeks to examine and evaluate the gaming control practices implemented in Sands Hotel and Casino before exploring the possibilities of its application in other gaming casinos and industries. The control system at Sands comprises of its control of cash and the movement of cash within the casino and, control of operation at the casino table. The control of cash at Sands is further subdivided into accountability, standard operating procedures during filling and security at the countroomRead MoreBlog 37 - Microgaming Evolves With New Evolution Gaming Partnership1781 Words   |  8 Pagesonline casino industry as a whole has been fairly notable over the years, but on case-by-case basis it is a little more difficult to define. However, one company in the field has recently made a very public move that can definitely be summarised as a true signal of intent. Microgaming has recently announced that they will join forces with Evolution Gaming to create a new live casino platform. It is safe to say that when two industry heavyweights like this come together, the online casino portalsRead MoreCooking the Books Essay1043 Words   |  5 Pagesexplored to see if there was a violation due to the unethical behavior of the company’s management and the inaccuracy of the company’s financial information. Keywords: Integrity, Ethics, Sarbanes-Oxley, Fraud Cooking the Books The problem is that the accounting manager has ordered his employee to falsify the books so that the company can show higher revenue in their current year in order to meet volume for a management bonus. These actions are unethical, fraudulent and may violate the Sarbanes-OxleyRead MoreThe American Gaming Association ( Aga )1465 Words   |  6 Pagesthings of value to the athletes in order to influence, or attempt to influence, the final score of both football and basketball games† (Fish). Manni and Karam paid players to â€Å"point-shave† to guarantee they would win their bets. Point shaving is â€Å"the practice by favored teams of attempting to win by less than the point spread to yield profits for gamblers who bet on the underdog† (Bernhardt and Heston). In 2007, NBA referee Tim Donaghy â€Å"started making NBA bets†¦and didn’t hesitate to wager on games heRead More3.0 Islamic Banking Now that, Islamic law has been defined and explained in detail, Islamic Banking600 Words   |  3 Pagesrules that govern investment behaviour in Islamic banking (Suleiman 2001): 1. Interest (Riba) 2. Deception/Uncertainty (Garar) and Change/Speculation (Maiser) 3. Trade (Haram) 4. Support Islamic tax system (Zakat) Alongside these four rules, unethical behaviour needs also needs to be considered. Followed, on I will discuss each of these four/five compliances of Islamic banking. 3.1 Interest (Riba) Interest, also known as Riba in the Quran is strictly prohibited in Islamic banking. It is the keyRead MoreThe Philosophy Of Virtue, By Jeremy Bentham And John Stuart Mill Erect The System Of Utilitarianism Essay1544 Words   |  7 Pagesnow my understanding that there is a difference in experimentation between â€Å"research† and â€Å"practice.† For example, experimentation by means of practice would be that a physician might recommend a new medication (if other have had fail to work) to find out if this new drug would be more efficient. However, if the physician is trying to experiment with the sole purpose to do research, this would be unethical, as it is forbidden; before a medication is out for a physician to use, lengthy studies/researchRead MoreThe Work Of Dr. Seuss1336 Words   |  6 Pagescommunities like Springfield and Holyoke. Considering the work of Kathryn McDermott, this research will highlight how this myth Dr. Seuss presents may not fully be the rea l story. Targeting contradictions in his work that do not account for discriminative practice affecting many people of color who suffer from reading disabilities and literacy skills. Through the perspective of Dr. Seuss push towards increasing reading levels and the notion of all it takes is hard work. Concluding this body of work we’llRead MoreAdvantages and Considerations for Wynn Macau’s Casino2526 Words   |  11 PagesExecutive Summary Wynn was among the first 3 concessionaries to enter Macau when its gaming industry was liberated and quickly became one of the most profitable casinos in Macau relative to its size. Junketeers have contributed greatly to wins success, along with government initiatives. Though gambling is illegal in many parts of the world, the industry is growing and competition is increasing, particularly in the east By 2015, the Asian gaming market is expected to be the biggest in the worldRead MoreIdentify And Evaluate Marketing Opportunities BSBMKG501B5284 Words   |  22 Pagesentrepreneurs current business Crown Casino Idea Developed New market Open bet shops in the City Brainstorming New products Poker and Dine in the Crown Casino Brainstorming Turning ideas into business opportunities Virtual Casino with 3-D Glasses Brainstorming Innovate approaches Hostesses who watch out for rookies and show them how to play Brainstomring 25/05/2015 Stefan Frener Potential for new marketing opp. Opens a new market for the Casino which are people who bets on horseracesRead MoreEnron Smartest Guys On The Room1573 Words   |  7 Pagesperspective that holds that criminality is the result of conscious choice and that predicts that individuals choose to commit crime when the benefits outweigh the costs of disobeying the law†(pg 62). For instance, he received many complaints of illegal practices by his trading team, but he refused to take action or discipline them because they making him and the company rich. He even went as far as praising them to continue with their action as long as they are generating more money. Based on Mr. Lay childhood