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Showing posts from September, 2019

Harrahs

In 1931, the state of Nevada passed a law legalizing casino gambling. In 1935, Harold's Club opened in Reno, Nevada. In 1937, Bill Harrah opened his first club in Reno. This club was the first to attract large numbers of out-of-state patrons. Harold and Harrah’s casinos were viewed as the first successes in the history of the American gaming industry. They encouraged the development of similar private and public casinos in Nevada, making Reno, Nevada the center of the casino industry at that time. As of 2003, the industry had come a long way since its inception. A significant new expansion phase was started in the late 1980s, when Iowa and South Dakota legalized casino gambling. Nevada and New Jersey were the only two states that allowed such operations until that time. Many other states soon followed suit. In 2000, there were 11 states with commercial casinos, 23 with tribal casinos and five with racetrack casinos. The casino industry employed over 370,000 people and paid over $4...

Amazon

On January 31, 2018, the market capitalization of Amazon.Com Inc. (Amazon) hit $702 billion, the highest level ever.2 When its fourth-quarter results were released on February 1, 2018, Amazon showed a 30-per-cent increase in revenues, to $60.5 billion for the quarter, and net income for the quarter had increased by 150 per cent, to $1.9 billion.3 From its start as a venture looking to build “earth’s largest bookstore” in 1994, Amazon was now one of the most valuable companies in the world, and founder Jeff Bezos was the richest person on earth. In 2018, Amazon had an online store that sold its own products and listed products for sale by more than two million third-party sellers.4 Since its founding, Amazon had added more than 30 store categories, ranging from electronics to furniture, selling millions of different products and making an estimated 1.2 billion domestic customer shipments in 2017.5 Amazon Web Services, the company’s on-demand cloud- computing service, generated $17.5 bil...