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Music industry "striking it rich" at casinos

The music industry has been doing good business with casinos in the USA, according to a report.

Casinos tend to pay more money for acts than other promoters because of the importance of putting on good entertainment, Reuters has revealed.

Vice president of entertainment for Trump Entertainment Resorts in Atlantic City Steve Gietka said: "Because we're casinos, and agents, artists and managers believe that their artists help us drive gaming revenues, we typically pay premiums when compared to regular promoters."

Tom Cantone, vice president of sports and entertainment at the Mohegan Sun added: "You really have to get into the event business to drive traffic and revenue on a consistent basis."

Giving the music industry's perspective, agent Greg Oswald said that people in the business really like casinos because of the money they generate.

The music industry is not the only sector benefiting from casinos either.

Boxing's richest ever event, the Oscar De La Hoya - Floyd Mayweather fight from earlier this year, was held at the MGM Grand in Las Vegas.