| Status | 已發表Published |
| A quantitative approach to determine the optimal table occupancy in casinos | |
Xiaoming Liu1 ; Davis Fong1; Jason Gaoｖ2
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| 2013 | |
| Conference Name | 26TH EUROPEAN CONFERENCE ON OPERATIONAL RESEARCH. ROME. |
| Source Publication | Proceeding of the 26TH EUROPEAN CONFERENCE ON OPERATIONAL RESEARCH. ROME.
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| Conference Date | 2013,06 |
| Conference Place | ROME |
| Abstract | We present a quantitative framework to determine the optimal number of customers at any type of casino gaming table (table occupancy) when the casino is not too crowded. Using baccarat tables in Macau as an example, we demonstrate how casino managers can apply this methodology based on the real situation in their casinos. We show theoretically that once the optimal occupancy for each type of table (a combination of the game and the lower limit) is known, a casino can achieve near-optimal average hourly profits as long as the occupancy of most tables is close to the optimal.
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| Keyword | Revenue Management And Pricing Decision Analysis Optimization Modeling |
| Language | 英語English |
| Document Type | Conference paper |
| Collection | Faculty of Business Administration DEPARTMENT OF INTEGRATED RESORT AND TOURISM MANAGEMENT |
| Affiliation | 1.FBA, University of Macau 2.School of Mathematics, Carleton University |
| First Author Affilication | Faculty of Business Administration |
| Recommended Citation GB/T 7714 | Xiaoming Liu,Davis Fong,Jason Gaoｖ. A quantitative approach to determine the optimal table occupancy in casinos[C], 2013. |
| APA | Xiaoming Liu., Davis Fong., & Jason Gaoｖ (2013). A quantitative approach to determine the optimal table occupancy in casinos. Proceeding of the 26TH EUROPEAN CONFERENCE ON OPERATIONAL RESEARCH. ROME.. |
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