Monte Carlo Casino
Gambling is one of the leading industries in the world. It is famed for the revenues that gambling institutions generate since the amount of money that is being circulated in these establishments is very high. Monte Carlo Casino is a luxurious casino located in Monaco which targets its services on the individuals with high net worth. It is one of the leading European travel destinations with tourists coming from all over the world and it is in the same league with the biggest casinos in the USA and around the world. Monte Carlo Casino has many establishments and has influence on the economy of Monaco since it generates revenue for the city. This paper analyzes Monte Carlo Casino and assesses its factors of success in international gambling industry over the years.
Monte Carlo Casino, built in the mid-nineteenth century in Monaco, is one of the most seasoned casinos in the world. It was initially imagined by Princess Carolina, who needed to raise money through the Casino and was later transformed into a corporation. The Casino is owned by Societe des Bains de mer de Monaco, a public Company based in Monaco (Lubitch et al 52). The firm runs Monte Carlo Casino as a business where it is probable to gain from the different revenues collected and the facilities that the visitors use in the city. One of the main impediments to the success of the Casino in the mid-19th century was the lack of infrastructure to support such a large establishment as a casino. There was a need for roads which would lead to the casino and other amenities that would make access to it much The Monte Carlo Casino occupies an extensive area of the city and is a substantial part of Monaco’s economy. The owners have ensured that the government owns some stake in the Casino and, therefore, has interest in its operations. This allows the Casino to operate freely in the city with the control of the government being minimal (Lubitch et al 93). Annually, the Casino and its establishments host a lot of guests
The architectural style of the casino is fascinating. The historical symbolism that the casino possesses makes it a unique destination for tourists. The Bohemian glass chandeliers, rococo ceilings and column gold and marble atrium make the casino a great masterpiece of architecture. It lays a mark for other casinos all over the world to try to imitate or surpass its design. (Lubitch et al 107). The casino has changed the economic landscape of the city and had played a role in Monaco becoming a major travel destination of Europe. It has the same level of popularity as Paris and Nice – cities that were famed since the mid-19th century, the time when Monaco was nowhere near as popular.
Technology has influenced the methods and controls that casinos are implementing in order to minimize losses from hacking and cheating. Monte Carlo Casino implements the best controls which facilitate safe betting and gambling (Polovtsov, 81). Betting and gambling can only thrive and succeed if there is no one has an unfair advantage. Prior knowledge of the results leads to having such an unfair advantage over the competitors. It is, therefore, critical that the people that are involved in the games at the casino have equal chances of winning the game. Monte Carlo is very strict on its methods and equipment that it uses to ensure equal opportunities of winning for its players (Fielding 77). This is very important for giving the casino credibility. The Monte Carlo Casino does not allow people under the age of 18 in their premises unless they are being accompanied by their guardians. This presents the casino as a safe area and improves its credibility among the people within the country and from all over the world. The Monte Carlo Casino aims to be exclusive in its services and thus the admission barrier is quite high. Those who gamble in it are expected to play with large sums of money. It is, therefore, famed to be the best casino in Europe and can be compared only to the other major casinos of the world such as MGM in Las Vegas.
The Monte Carlo Casino is as magnificent and detailed as the casinos in the United States and the standards for admission are also very similar. These standards ensure that the casino is represented in a good light to its potential customers. It utilizes the same rules and policies that are being implemented in the American casinos making it a good harbor for global gambling industry. The security measures are synchronized in the same manner as in the United States. The unique characteristic of the Monte Carlo Casino is the help that it received from the local government. The casino enjoys the tight interaction with government officials and the use of some of their resources. Monte Carlo Casino has been a leader for other casinos all over Europe making it a harbor for many international customers (Champion and Rose 113). It has succeeded in the European market forcing other operators to utilize the same methods of developing international gambling scenes in their countries. This will only improve the future of international gambling and with the competition that is being offered by competitors in France and other European countries the Monte Carlo Casino should only get better.
In conclusion, Monte Carlo has transformed the city of Monaco into one of the most popular and fames places in Europe. It has transformed the city to become a major competitor in the gambling industry and has witnessed the drastic increase in the number of people visiting the country.