In some states, casinos have to give out a portion of their profit to foundations. They are required to grant it out and are allowed to put a portion into their endowments. It has become one of the most overlooked fundraising opportunities casinos can have.
In between the years of 2006 and 2008, Harrah’s gave out $1.2 million to the organizations. This casino along with many others give to locations in where their employees are at. They give to institutions like universities in order to have goodwill within the communities that have a high chance to be negatively impacted by casinos being present. This is done to support research programs for problem gambling treatments. These treatments are similar to drug ones, but for pathological gambling.
The casino industry has been growing a lot. Now casinos are not just in Las Vegas and Nevada. Many small and large communities have casinos now. Some of the communities include Tupelo, Mississippi, Gary, Indiana, Cripple Creek, Colorado and more. Areas that do not have a casino probably will soon in the future.
In some cases the casino employees are the ones giving back and not the casinos. Some casino employees give through payroll deductions. A lot of times the deductions are matched to at least some extent by the companies themselves. Isle of Capri Casinos have properties in Colorado, Iowa, Florida, Louisiana, Mississippi, and Missouri. They have said they donated millions to charities in the local areas. However, a lot of the charitable activity comes from their employees and volunteers.
Casinos love to get money out of their customers. Having a nice system to receive donations from casinos would definitely be nice.
The casino industry is very large. An estimate amount of 500 commercial casinos have earned $31.4 billion in the gross gaming revenue in the year of 2009. Gross gaming revenue is the total dollars wagered except the winnings that are distributed to bettors.
The $35 billion revenue money generated from the retail sporting goods industry in the same year was spread through a large group of 20,000 companies.
An extra $2.1 billion is received by charitable gaming. This is called nonprofit bingo. In other words those who are in the nonprofit sectors of the casino industry. It is important to be aware that the numbers do not include the huge government operated lottery industry.
A lot of casinos do show their charitable efforts like United Way campaigns and volunteer employees.
Harrah’s Boyd Gaming and Ameristar usually are in the top ten corporate donors for the United Way of Southern Nevada.
Back in 2005, Harrah’s acquired Caesar’s Entertainment. Currently it is the largest gambling company in the world. It has 100,000 employees and $8.9 billion in their annual revenue.
Like a lot of other corporations, Harrah’s Foundation gave most of their grants where their largest casinos are located at. Those locations are Nevada, DC, New Jersey, Louisiana, and Illinois.
A lot of time grants go to nonprofits that have service in areas that have youth, diversity, and health.
This is due to many casinos proposed and locations in African-American cities like East St. Louis, Tupelo, Tunica, Biloxi, and Gary.
A Blue Avocado reader once reported that the Harrah’s Foundation are extremely supportive of a lot of elders in communities where there are employees who live and work for her nonprofit organization.
Harrah’s and other casinos that have operators in the Mississippi River delta have disaster relief programs set up for casino workers and relatives whose lives were disrupted by Hurricane Katrina.
Harrah’s and a lot of other casinos give to the National Center for Responsible Gaming and the American Gaming Association.
Usually, casinos are very concerned about their impact on local employment. Typically, they like to go along with their employee’s charitable interests. There are some casinos who are looking into leading their own campaigns rather than depend on United Way as a campaign manager. Also there are some who follow employee donations with corporate funds. Their unions like SEIU and UAW along with nonprofit outreach and cultivation of employees where they exist might end up being lucrative.
A lot of giving is done for pragmatic reasons. Meaning areas that have a negative stigma associated with gambling. It is important to note that in order for casinos to operate, they have to receive government licenses. Government regulation is what leads to the casinos being able to give.
There are casino owners who give back. Not that long ago, gambling mogul Kirk Kerkorian transferred his Lincy Foundation $200 million to UCLA (University of California at Los Angeles).
Casinos have a deep connection to different charities in a few different ways. A lot of casinos are able to generate a lot of money. Since they are able to do this, they are able to give back.