Kevin Sheehan has always found it a passion of his to learn new things and there is no other way to do this then to start a new venture in a business. If you have skin in the game, it means you have your own money invested into a company and the well-being of that business will also dictate your well-being. To keep learning about a new industry, it is important to start a business plan to understand who your competitors are and how to differentiate themselves.
What to look out for in the future
There are a couple things to note about the casino industry within the next couple of years. It is expected that the casino gaming market will grow 10.16% over the next few years. It is no secret that this industry provides a lot of funds to the local community it operates in. It can either help fund roads or other projects to the economy. With all other industries in the United States, it accounts for 0.45% of the country’s GDP. If you think about it, a very large casino in the US is going to employ anywhere from 8000 to 10000 employees throughout the year. 25% of their revenues go towards paying taxes while the regular rate of which regular employees pay is 10% of their salaries to taxes. Since government bodies rely on tax as their main source of revenue, they are trying to ease the regulations for gaming within the country.
Kevin Sheehan has noticed that online gambling is a big sector of which is going to expect a lot of growth within the next few years. With more states legalizing these games on the Internet, there are more players that will come in take the more of the market share. The leading deciding factor on legalization of these games is due to protecting the consumer. There are a lot of black market online gambling sites that suck money right out of the country. In addition, you may not even know if the site is reliable as well. When it comes to the debate of whether or not these sites cannibalize casinos, this is not necessarily the case since the nature of how the consumer uses the product and service is different. It may affect sales slightly but overall, there should be very little change.