A Casino (also known as a gambling house) is a place where people can gamble by playing games of chance. Most casinos also have restaurants and other entertainment options. Some are attached to hotels, while others stand alone. In some countries, casinos are licensed and regulated by the government.
Largely known for its glamorous reputation and big-name clientele, the city of Las Vegas has made casino culture an integral part of its identity, and many Hollywood movies and TV shows have been filmed here. While most visitors go to Las Vegas to gamble, the world’s largest resorts offer much more than just the opportunity to play. They also offer luxury hotels, restaurants and even golf courses.
The word “casino” comes from the Latin for small box, and early casino buildings were often converted from other uses. The oldest surviving casino is the Casino di Venezia in Venice, built in 1638 and still open. It is probably the most romantic casino in the world, a gilded paradise overlooking the Grand Canal with an entrance reached by a free boat shuttle.
A casino is in business to make money and successful casinos earn billions each year for their owners, investors, Native American tribes, local governments, and other stakeholders. They rely on a mathematical expectation of profit, also called the house edge or expected value, to generate gross revenue from players’ wagers. This is calculated by experts in the field of gaming mathematicians and analysts.