[von949]

List or not, I don't think Macau is on most people's bucket list. Vegas on the other hand...


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[Asheville1]

Las Vegas has been losing gaming revenue to the Indian Casino's and online gaming sites for years. All the while, Las Vegas has continued to grow, not only for gaming, but as a all inclusive resort destination for business, individuals and yes, even families. I'd bet on Vegas being around for a very long time.

[von949]

Only certain type of people go to the Indian casinos. Probably none in my generation. I doubt any of them have it on their bucket list either.

Also, there is not Kim Kardashian sitting in VIP in those casinos.


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[Gatsby1925]

Dining, hotels, nightlife, concerts, shows, shopping. There may be legalized gambling in other counties, but Las Vegas will always be the mecca of gambling, and even if gaming revenue goes down there will still be many other things for tourists to do on the strip and in the resorts.

[Llew]

Originally Posted by Asheville1

Las Vegas has been losing gaming revenue to the Indian Casino's and online gaming sites for years. All the while, Las Vegas has continued to grow, not only for gaming, but as a all inclusive resort destination for business, individuals and yes, even families. I'd bet on Vegas being around for a very long time.

I don't doubt that Las Vegas will be the premier gambling destination for a long time. What I do doubt is that being the premier gambling destination will bring in the same kind of money and support the same kind of workforce as it did in the past decade.

[BBMW]

Your basic assumption is completely incorrect. Gaming in other juridictions in the US has not aversely affected Las Vegas. Up until the economy crashed gaming in Nevada was gaining strongly, even with the proliferation of gaming in other states. See the data in the site below:

http://gaming.unlv.edu/media/longterm_nvgaming.pdf

By the time the crash hit, gaming had spread to at least 30 states. Gaming revenue in Nevada still rose something like 25% 2000-2007.

Your wrong. Give it up.

Originally Posted by Llew

The economy going off the cliff is what's making it possible to open casinos in all these new locations. The states are broke and want revenue even if they have to allow a little bit of sin to get it.

Nowadays, it's tourism and conventions drawn by cheap hotel rooms, not gambling, that are responsible for the number of LV visitors.

Also, the economy is going nowhere anytime soon. Stagflation from the Fed's QE is going to throttle any recovery once money starts to pick up any sort of velocity.

[ScoopLV]

Originally Posted by BBMW

Your basic assumption is completely incorrect. Gaming in other juridictions in the US has not aversely affected Las Vegas. Up until the economy crashed gaming in Nevada was gaining strongly, even with the proliferation of gaming in other states. See the data in the site below:

And even though our monetary numbers are down, our visitor numbers have never been higher. More people are coming to Las Vegas than ever. They're just not spending as much as they used to. Those visitors are the only thing keeping this town afloat. Once the economy improves, I think we're going to see a boom like never before.

[Willy702]

Originally Posted by Gatsby1925

Dining, hotels, nightlife, concerts, shows, shopping. There may be legalized gambling in other counties, but Las Vegas will always be the mecca of gambling, and even if gaming revenue goes down there will still be many other things for tourists to do on the strip and in the resorts.

Many casinos are following this model elsewhere and it's still the same 20% of gamblers who often don't care about these amenities providing all the profit.

Casinos build these things because they are profitable on their own. Casinos stopped providing loss leader activities to gamblers a decade ago. Comps still are offered but they are just a line item expense. Casinos to compete now only need hotel rooms and not that many of them.

The business model is changing and yet people still focus on what happened in the past. Gambling has just about maxed out as a growth industry and most consumers of it in current form tend to be over 50. The younger demographic might be tapped by online play but quite frankly I think people are missing the story. Young people have way too many choices for entertainment and gambling is falling down the list. Gambling revenue is still strong because there are so many boomers hitting their highest incomes right now, but it's not a trend that will last much longer.

Last Vegas isn't going anywhere and part of that is its understanding about needing diversification of entertainment options. Casinos will get smaller and be a lesser part of the resort business model and gambling revenues spent in resorts are a near certainty to decline.

[BBMW]

When I was in LV in August, I didn't see too many old codgers around the craps and blackjack tables. And, while it's not a big money maker for the casinos, poker has brought in a much younger demographic.

[Willy702]

Originally Posted by BBMW

When I was in LV in August, I didn't see too many old codgers around the craps and blackjack tables. And, while it's not a big money maker for the casinos, poker has brought in a much younger demographic.

Slots and elite high rollers are what drive gaming revenue in every US casino. When the casinos find the next poker and make a lot more money on it then I will start believing there is a way to turn back the inevitable peak in gaming revenue. Casinos don't need the revenue as much as people think. If a young person brings in $500 to blow on high margin activities like clubs and spending the day by the pool the fact that they don't step foot in the casino doesn't matter.