A Casino is an establishment that offers various forms of gambling, including slot machines, table games (such as blackjack, roulette and baccarat) and live entertainment. Casinos are generally licensed by governments to operate and regulate gambling activity. They are often located in areas with high population density, and serve as major sources of revenue for their host cities.
In addition to gambling, casinos are known for their live entertainment and have hosted celebrities like Frank Sinatra, Celine Dion, Mariah Carey, Rod Stewart, Bette Midler and Elton John in the past. One of the world’s most famous casinos is Caesars Palace in Las Vegas, a Roman-themed resort with a circus-themed showroom that has been home to residencies for such superstars as Cher and Madonna.
During the 1990s, casinos greatly increased their use of technology, with many implementing systems that electronically monitor and supervise the games themselves. For example, in some modern casinos, betting chips have built-in microcircuitry that enables the casinos to oversee exactly how much is wagered on each spin of the wheel or hand of cards, and to detect quickly any statistical deviation from expected results.
Some casinos also employ mathematicians to analyze the game rules and determine the house edge for various games, which is a critical part of their business model. These people are known as gaming mathematicians or gaming analysts, and their analysis is often performed by independent companies that provide services to the casino industry.