Time Is Money in the Casino - Part 3
The last couple of weeks, we’ve explored how speed of play and the house’s mathematical edge on casino games work together to make money for the casino. And we’ve taken both speed and edge into account to list your average cost per hour when you play, first on table games, then on electronic games.
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Gambling history facts:
- 1994: On New Year's Day Frank Sinatra gives his last Las Vegas performance at the MGM Grand.
1998: Opening of the Bellagio. With 3,026 rooms it is the largest hotel in the world, and also the most expensive - it cost $1.7 billion to build.
- Parimutuel wagering refers to the type of gambling where the total prize pool is based upon the amount of money wagered. The more money gambled, the bigger the prize.
- It was during the 1930's that slot machines began to become very popular across America, and in the late 40's Bugsy Siegel added machines to his Flamingo Hilton hotel in Las Vegas.
- 1973: The MGM Grand opens on the Strip, becoming the world's largest hotel.
1989: One of Vegas's most extravag-ant hotels opens. Steve Wynn's Mirage resort features a man-made volcano and over 3,000 rooms. Siegfried and Roy sign a $57 million, five-year contract to provide entertainment at the hotel.