A specialized MBA provides training in a particular industry in addition to a foundation of business management courses. When candidates consider whether to enroll in a specialized MBA program or a general MBA, the choice usually hinges on commitment to one industry. Specialized MBAs have grown with their corresponding industries, and the hospitality and casino management specialization is no exception.
If you are currently in the casino industry, you have seen strong growth in your industry since the second half of 2016. Improved tourism dynamics, rising discretionary income and reduced government restrictions in the United States and around the world have been catalysts for growth. Casino hotels have a broad range of revenue streams including gambling, lodging, dining, entertainment and conventions. Each of these revenue streams presents growing career opportunities for professionals with a specialized management education. With experience, managers can move up into executive roles, overseeing multiple revenue streams. Major players in the industry like Las Vegas Sands Corp. and Eldorado Resorts are making heavy bets on new casinos and resorts, which will continue to keep demand rising for MBA-educated management professionals.
According to Research and Markets data featured in a Nasdaq article, the global casino industry has a projected annual growth rate of 10 percent for the 2017-2021 period, and the U.S. market is anticipated to grow at a 5 percent pace during the same period.
Industry Demand for Specialized Managers
As an industry grows, processes become more refined but also more complex. Two decades ago, an education in the general hospitality industry or a general MBA may have been sufficient to excel in a casino or resort management role. Today, employers in the industry require an understanding of core concepts and best practices in specific industry disciplines, including:
- Casino and resort hospitality
- Gaming issues
- Casino finances
- Resort and casino marketing
- Risk management
- Gambling quantitative methods
LSU Shreveport Meets the Industry's Management Needs
Louisiana is one of the states with excellent growth prospects in the casino and resort industry. LSU Shreveport, with input from major industry employers within the state, has developed an accelerated MBA program to prepare professionals for management careers in the industry. The program trains students in key concepts and marketing challenges unique to casino and resort operations. The industry-specific management training offered in each program addresses products, operations, legal concerns, financial controls, quantitative methods for decision-making and human resource management.
Graduates of this program may pursue a wide variety of career opportunities, including:
- Casino Manager/Assistant Manager
- Casino/Hotel Services Manager
- Business Development Manager
- Director of Casino/Hotel Operations
- Revenue Manager
- Player Development Manager
- Financial Manager
- Hospitality Manager
- Human Resources Manager
The LSUS online MBA program with a Hospitality and Casino Management Concentration provides a foundation in business administration. Through the program's core courses, you'll strengthen your general business acumen. In the concentration courses, you'll learn the ins and outs of casino and resort management. You'll also learn how to base gaming and business decisions on data insights. Students in this program take these three industry-specific courses in addition to seven core business courses:
This course considers the challenges of resort and casino management, including operations, legal concerns, products, financial controls, human resource management and strategy.
This course considers the unique marketing challenges inherent in organizations with combined hospitality and gaming facilities.
This course covers quantitative methods, management science and statistics for business decision-making, including statistical estimation, regression analysis and forecasting techniques.
The LSUS online MBA program with a Hospitality and Casino Management Specialization offers the opportunity to learn more about management and marketing issues in the gaming industry while customizing your studies with a business elective course. Students in this program must take MADM 725 and MKT 705 as well as one MBA elective course on topics including strategic management of human capital, international experience and data analytics.
If you're interested in this fast-growing industry and want to place an informed bet on your success in the field, the LSUS hospitality and casino management-focused MBA provides a rare opportunity to target your career objectives.
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