[dogromeo]

Originally Posted by stevek64

the slot %'s vary based on strip, downtown, and more local casinos.

Definitely. Here are the 2015 slot hold percentages through November, compiled by UNLV from NV Gaming reports:

Reno 5.14%
North Tahoe 5.55%
Boulder Strip 5.59%
Mesquite 5.85%
Elko 5.94%
South Tahoe 6.27%
North Las Vegas 6.35%
Downtown Vegas 7.01%
Laughlin 7.65%
Vegas Strip 7.84%

Statewide 6.6%

[stevek64]

Originally Posted by dogromeo

Definitely. Here are the 2015 slot hold percentages through November, compiled by UNLV from NV Gaming reports:

Reno 5.14%
North Tahoe 5.55%
Boulder Strip 5.59%
Mesquite 5.85%
Elko 5.94%
South Tahoe 6.27%
North Las Vegas 6.35%
Downtown Vegas 7.01%
Laughlin 7.65%
Vegas Strip 7.84%

Statewide 6.6%

Wow, Laughlin is almost right up there with the strip.....that's a surprise to me. The gap between the strip and downtown used to be much greater years ago as I recall.

[dogromeo]

Laughlin surprised me also.

Downtown I guess is living off its reputation. Using the earliest available reports on the Gaming Board site, I averaged the June numbers for 1989 & 1990. This is for quarter slots, which was the common denomination at the time:

statewide 5.51%
downtown 4.59%
strip 6.09%

So downtown was a much better value 25 years ago.

[BBMW]

The title of this thread isn't "Casino's Lack of Growth", or even "Casino's Declining Revenue". It's "Casino's massive losses". For most of the big players, that just isn't the case. Caesar's is a basket case, due to their own bad financial engineering. But the other three big ones are making money. Not as much as they might like, and not by increasing amounts. But sustaining massive losses? No.

Originally Posted by stevek64

But look where most of that growth/profit/revenue is coming from and that's China/Macau. And more specifically, gaming from China at their operations.

For example, Wynn back in early 2015/Q4 2014(just did a quick search for an example):

Struggling Macau hurts Wynn Resorts

In the article, notice where Wynn is building and where he's excited about making his money.....hint.....it's not Las Vegas

2015 Q3 wasn't pretty either in my view in regards to Las Vegas:

Wynn Resorts Q3 Earnings Top, Macau a Drag on Revenues - October 16, 2015 - Zacks.com

"Wynn Resorts’ revenues from Las Vegas operations declined 3.9% year over year to $411.2 million due to a decline in casino revenues, partially offset by an increase in non-casino revenues. Net casino revenues fell 14.8% from the prior-year period to $152.1 million. Table games win percentage was 23.7%, down 200 bps year over year. The decline was within the expected range of 21% to 24%."

And of course China's economy getting worse won't help matters but this thread is about Las Vegas.

Wynn's a smart guy/businessman and I wouldn't call the operation results from Las Vegas "solidly profitable". Macau/China/international/outside Las Vegas is driving the profit that exists based on my research.

[PinkString]

I really do not believe they are losing so much money. Since they suck the wallets dry of about everyone who plays in their casinos, they are making money. But probably not as much as they expect.
We totally quit gambling in casinos now, because when we consistently lose time after time, we are not going back. Simple as that.

[mojavedxer]

Originally Posted by PinkString

I really do not believe they are losing so much money. Since they suck the wallets dry of about everyone who plays in their casinos, they are making money. But probably not as much as they expect.
We totally quit gambling in casinos now, because when we consistently lose time after time, we are not going back. Simple as that.

You will be amazed on how much extra money you will have from not being bled from the visits.

[yellowsnow]

Originally Posted by stevek64

I agree 100% with this. I've heard more than a few people that we've known/overheard on our trips say the same thing. I think like you say in the end, people would play even more if things were loosened up a bit. To many value = more play time, to hang around and be entertained longer, have some drinks, etc.

Do you know when the machines began to tighten up in Las Vegas? For many years we didn't visit much.



Agree. I think there are still some cheap places/good values to eat and drink that we've found downtown and at some of the suburb/local casinos but the cheap eats on the strip I think have gone a long time ago.



Some of the casinos I've noticed have quite a few people in their 20's/30's playing table games, especially in places that I think are going after that market like the Golden Gate and the D downtown. The slot machines I've noticed overall are being ignored by that age group. But in the end, it's apparently no where near enough to stem the tide of dwindling gaming revenue.

Just my personal observation but my 'luck' changed right after 9/11. At least that's when I noticed it.

I was never a high roller type. Just a consistent low roller. My favorite game was VP. And I play well. Very few mistakes. Pre 9/11 I almost always went home with money. I always had a daily gambling budget, always the same amount. When the money was gone I was done for the day. I did always do better downtown than on the Strip.

Now I live here so I don't gamble much. And it's just entertainment.

[Caltovegas]

Here's my take. When I first came to Vegas Boulder station during football season had $1 hot dogs, $1 beers, and had a $5 parlay card on Wednesday's that paid out either $100K or $1,000,000 depending on how many winners.

Today...$1 hot dogs, $2.50 beers and no more special parlay card. That's what I see. Now as for slots I have very rarely seen anyone hoping and hollering after a big win. It probably happens but I mostly hear all the bells and whistles going off on the penny slots. The thing is if people win in most instances they will pump it back in and a bit more.

If anyone has first hand experience can someone chime in on tips today compared to maybe five years ago..Better, worse, or about the same.

Oh yea one more thing I think is funny. People renting a limo to go up and down the strip when a 24hr bus pass cost what about $8?

[LasVegasPlayer]

Originally Posted by FML157

this is bad for the State which uses taxes on gaming as a source of funding. Less gaming revenue = less revenue for the State to provide services Nevadans need like funding for education, mental health, social services, etc.....

Gaming revenue has almost completely recovered from the recession, while amenities have nearly doubled. The new margins tax on non-gaming operations, combined with the sales tax on those items, more than make up for the very small decline. That $1,000 bottle at the club has an $815 sales tax on top of the bottle's excise tax. Each hotel room pays just over 10%. That $100 restaurant tab pays $8.15.

With that said, gaming pays just 6.75%, the lowest in the country. The next closest are 9% (South Dakota) and New Jersey (9.25%). Every other state is well into the double digits. A few are over 50%.

[ScoopLV]

I'd like to see this broken down from 1970 to today, in inflation-corrected dollars, as a percentage of total revenue.