handle of casino

Question

A casino's gross revenue—all the money wagered by players—is referred to in the business as the handle. The hold is the profit the casino retains after players are paid. If a casino's hold is $2,500,000 in a month and it takes in 4.8% of the money wagered, how much is the handle?Round your answer in millions of dollars to two decimal places.

Answer 1

If it takes in 4.8% of the money wagered, that is the profit or the hold in your terms.

 

So 2,500,000 = .048 x    divide by .048

x = 52,083,333.33 or 52.08 million dollars.

 

Hope this helped. PS....the casino at Cherokee makes money!!