Listen and Download Planet Money Podcast Hosted by Keith Romer Featuring Stephen (Mr. Las Vegas) Crystal

Stephen Crystal recently appeared on Planet Money to address the intriguing question: "Are casinos banks?" Drawing on the history of Las Vegas, Crystal highlighted the increased bank-like regulations casinos now face. However, he was clear in emphasizing that casinos are fundamentally different from banks. While banks profit from managing and investing deposits and earning interest, casinos operate on a different model, relying heavily on mathematical margins. Crystal further elaborated that casinos are diversifying their revenue streams, focusing less on gambling and more on the lucrative potential of upselling related experiences and amenities.