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FY 2012 Las Vegas - Inside the Numbers

Discussion in 'Misc. Vegas Chat' started by Viva Las Vegas, Feb 28, 2013.

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  1. Viva Las Vegas

    Viva Las Vegas Ramblin' Gamblin' Man

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    The Nevada Gaming Board released their YE June 30, 2012 Gambling Abstract Report a few weeks ago. This report covers casino revenue and expenses by location and gambling revenue size. The 2010 report was covered here a few years back.

    You can access reports from 1990 through 2012 here.

    1. It's a Family Affair or the 80/20 rule:
    Of the 265 casinos covered by the report ($1M + Gambling Revenue), seventy are held by twenty two different publicly held corporations. These casinos generated 78.3% of $10.3 Billion in gross gambling revenue during FYE 6/30/12. Top statewide license holders w/ casinos generating over $12M/year include Caesars (12), MGM (12), Stations (9) & Boyd (7) controlling most of the action.

    2. We can sell room and board:
    Gambling revenue (44.8%, $10.3B) continues to decline as a percentage of overall revenue. Rooms broke the 20% threshold (20.6%, $4.7B - $3.76B Paid, $0.96B Comped - Comps > 25%) of casino revenue in FYE 2012. It looks like Vegas has finally absorbed the excess room revenue after the launch of City Center.

    Food exceeded the 15% barrier ($3.5B - $0.7B Comped or 20%) with Beverage/Booze ($1.6B - $0.7B comped) and "Other" (12.5%) making up the remaining revenue. Vegas casinos were $27M shy of selling $1B in beverages. That's a lot of bottle service.

    3.Yes, you really are getting poorer service in Vegas:
    Clark County Casinos (Strip, Downtown, Boulder Station, Laughlin & Other areas) have fired around 4,500 front line staff over the past two years despite an increase in visitors and revenue:

    Food staff decreased by 3,200 : 35,721 vs. 38,921
    Beverage staff decreased by 1,336: 9,766 vs. 11,102
    Casino staff decreased by 527: 35,915 vs. 36,442
    Room Staff increased by 666: 26,052 vs. 25,386 (Cues Iron Maiden)

    4. Are you an above average Vegas visitor?
    Boulder Strip - Few Rooms, mostly machine play.
    Downtown - Low rolling, strong machine play, tables gather cobwebs.
    Las Vegas Strip - Many guests, far less gamblers, machines gather cobwebs.
    Laughlin - Strong gambling for 9 casinos, degenerate machine gamblers.
    Reno / Sparks - I've fallen, and I can't get up.
    South Shore / Lake Tahoe - Fewer guests, more gamblers and drinkers!

    Average Pit Revenue Per Room Per Day:
    South Shore Lake Tahoe (4 Casinos) $106
    Las Vegas Strip (44 Casinos) $84
    Statewide (265 Casinos): $71
    Boulder Strip (31 Casinos) $64
    Downtown (16 Casinos) $41
    Reno / Sparks (23 Casinos) $38
    Laughlin (9 Casinos) $20

    Average Slot Revenue Per Room Per Day:
    Boulder Strip $715 (Locals = 86% of gambling revenue - skewed by few rooms)
    South Shore Lake Tahoe $265
    Laughlin $180
    Reno / Sparks $176
    Statewide $156
    Downtown $138
    Las Vegas Strip $97

    Average Daily Room Rate - Includes Room Rate attributed to Comped Rooms:
    Las Vegas Strip $131
    Statewide $108
    South Shore Lake Tahoe $104
    Boulder Strip $73
    Reno / Sparks $70
    Downtown $55
    Laughlin $41

    Average Food Sales Per Room Per Day:
    Boulder Strip $158 (skewed by fewer rooms)
    Las Vegas Strip $81
    Statewide $79
    South Shore Lake Tahoe $76
    Reno / Sparks $70
    Downtown $51
    Laughlin $34

    Average Beverage Sales Per Room Per Day:
    South Shore Lake Tahoe $61
    Boulder Strip $59
    Las Vegas Strip $39
    Statewide $37
    Reno / Sparks $32
    Downtown $27
    Laughlin $18

    Average Occupancy Rate:
    Las Vegas Strip 90%
    Downtown 83%
    Statewide 82%
    Boulder Strip 80%
    Reno / Sparks 65%
    South Shore Lake Tahoe 64%
    Laughlin 62%

    Total Gambling Revenue - FYE 2012
    Statewide (265 Casinos): $10,283,752,257 (44.8% of casino revenue)

    1. Las Vegas Strip Area (44 Casinos) $5,556,359,281 (36.4% of casino revenue)
    2. Balance of Clark County (52 Casinos) $1,465,558,240 (64.7% of casino revenue).
    3. Boulder Strip (31 Casinos) $857,094,479 (70.0% of casino revenue)
    4. Reno / Sparks (23 Casinos) $651,679,840 (51.7% of casino revenue)
    5. Downtown (16 Casinos) $512,574,421 (54.2% of casino revenue)
    6. Laughlin (9 Casinos) $460,025,000 (64.2% of casino revenue)
    7. Elko County (19 Casinos) $262,067,312 (66.4% of casino revenue)
    8. South Shore Lake Tahoe (4 Casinos) $197,462,917 (57.5% of casino revenue)
    9. Balance of remaining Nevada Counties (43 Casinos) $146,284,659 (66.0% of casino revenue)
    10. Carson Valley Area (15 Casinos) $97,573,763 (64.7% of casino revenue)
    11. Balance of Washoe County (9 Casinos) $77,072,345 (42.5% of casino revenue)
     
    Last edited: Feb 28, 2013
  2. Kickin

    Kickin Flea

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    Interesting read! Thanks for compiling all this data.
     
  3. lionelhutz

    lionelhutz Low-Roller

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    somewhere outside of Toronto
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    nice...

    thats one hell of a presentation, thanks for putting it all together.
     
  4. LV_Bound

    LV_Bound VIP Whale

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    After opening the link, I can appreciate your summary that much more. :beer:
     
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