A casino is a building or room in which games of chance, such as blackjack and poker, are played. A casino may also include a stage for entertainment, such as live music or theater. Modern casinos are usually heavily themed with elaborate decor and lighting. Many are built in conjunction with hotels, restaurants, retail shopping, cruise ships or other tourist attractions. In the United States, casinos are generally licensed and regulated by state governments.
Casinos earn billions of dollars every year for the companies, investors and Native American tribes that own them. The casino edge (sometimes called the vig) of each game gives the casino a statistical advantage that can be as low as two percent, but the millions of bets placed by patrons over time give the casinos a virtual guarantee of profit. To offset the vig, casinos offer extravagant inducements to big bettors in the form of free spectacular entertainment, transportation and living quarters.
While the casinos bring in huge sums of money, they can also have a negative impact on local economies. Studies show that casinos divert spending away from other forms of recreation and can lower property values. In addition, the costs of treating problem gamblers can offset any economic gains casinos make. Nevertheless, it is important to note that casinos provide jobs and tax revenues. In the US, most casinos are located in the Las Vegas Valley and Atlantic City. However, land-based casinos are also present in other cities, including Chicago.