A casino is a facility for certain types of gambling. Modern casino facilities are like indoor amusement parks for adults, and they draw billions in annual profit from slot machines, blackjack, roulette, craps, and keno. They also offer a wide range of other gambling-related games, and they can be found online and at various land-based locations around the world.
Gambling probably predates recorded history, with primitive protodice and carved six-sided dice among the oldest archaeological finds. But the term casino did not emerge until the 16th century, when a gambling craze swept Europe and Italian aristocrats met in private clubs called ridotti to gamble and enjoy each other’s company. Because gambling was technically illegal, these social gatherings were rarely inspected by the authorities.
In Nevada, mob money was the lifeblood of the casinos until federal crackdowns and the threat of losing a license at the slightest hint of mobster involvement forced legitimate businesses to take over many of them. Real estate investors and hotel chains, who had more money than the mobsters, bought out the casinos and ran them without mob interference.
Although casinos are profitable, they generate few local jobs and often cause a loss in property values for nearby homes. And some studies suggest that the costs of treating compulsive gambling and lost productivity by addicted workers more than offset any initial revenue gains from a casino. This is a significant factor in some states’ decision to ban casinos or limit their operations.
