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Nevada gambling revenue falls 13.7 percent in Feb; Strip casino winnings down 20%

Discussion in 'Casino Industry & Development' started by Viva Las Vegas, Mar 28, 2014.

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  1. gilly from philly

    gilly from philly Low-Roller

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    Although hardly scientific, my ORD-LAS and return flight in mid Feb appeared to be full.
     
    Last edited: Apr 5, 2014
  2. thoots

    thoots Low-Roller

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    Resort fees and the general rise in prices for EVERYTHING has kept me from going to Las Vegas more often than I would like. Gosh golly, what happens when you price "normal people" completely out of their travel budgets? And then don't get me started about the catering to "the young" who seemingly just want to get as drunk as they can possibly get.

    All I can tell the people who are in charge of this stuff is that I just recently made the "not going this year" decision. I can spend an entire summer traveling to all sorts of other places for the price of one Vegas trip.

    Just a quick snapshot for me, but in the end it's a competitive world out there, and Vegas just isn't competing as well as it did in the past for me. Go ahead and keep on trying to attract millionaire whales and young drunk partiers, while you completely ignore "normal" people. There are plenty of other things we can do with our travel and entertainment money.

    thoots
     
  3. HoyaHeel

    HoyaHeel Grammar Police & Admin

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    The past few years, my only trips to Vegas have been for business - one of my husband's trade shows rotates cities and is in Vegas every couple of years. But now, apparently Vegas is a problem for scheduling the show (they reward those shows that stay in Vegas every year, plus other reasons) so we're not planning on Vegas in the near future. So that sucks for me for a couple reasons - I likely won't go to Vegas for other reasons (pure fun) AND I have to go to Atlanta for the show at least once :vomit:
     
  4. Viva Las Vegas

    Viva Las Vegas Elvis has left the building

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    United cut the 5-6 daily direct flights to/from Vegas to as low as three per day. I had trouble using points and getting any flight in June as far back as Dec of last year.

    Airlines on most routes have cut a bit to bump up the seats sold per plane in the air. Haven't seen as many "bump" opportunities due to over selling, but I have noticed tweaking of schedules and 1/2 flights dropping off the normal schedule beyond seasonal scheduling.

    I went to Vegas 5-6 trips per year for a 4 year stretch (2008-2011) due to many free flights (points/bumped vouchers) and great comps, but I'm back down to the 1-2 trips, partially due to having to pay for flights and partially due to the drying up of easy comps and decent widespread gambling options.

    I'm pretty much down to the three MGM properties & LVH/TI for BJ (w/ no comps spreading 1-4+ green chips), tournament poker w/ tourists (the decent / loose $3-$6 through $6-$12 limit games have dried up at most casinos - I miss the easy $4-$8 Wynn game which gave more action than most NL games), and VP downtown or at a few Strip / off-strip locations (9/6 JOB, 10/7 DB or FPDW).

    If 3-2 BJ, limit poker and full pay video poker ceased to exist in Vegas (and we are heading there), I wouldn't return beyond seeing family w/ no gambling whatsoever.

    Gambling is declining mostly due to the decline of average household income/ full time jobs, but the growing casino greed / indifference to offering decent gambling is impacting casinos at the margins on the Strip, and significantly in local markets (Boulder Strip / Rent/Tahoe / AC / across the nation).
     
  5. hail2skins

    hail2skins VIP Whale

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    Sounds like March was a pretty good month for Vegas. Gaming revenues up 10 pct in Clark County, record visitation numbers.
     
  6. Funkhouser

    Funkhouser In Charge of the Big Door

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    I managed to sneak out of LV a winner in Feb, and the way the spring / summer offers are going. I say F'm im taking my winnings out to AC where the comps are plentiful.

    Downtown offers from DTG, The D, and Nugget are good but not enough to draw me out there before my CET Labor Day visit to Caesars.

    Maybe people are rethinking Vegas. New supply has been opening up on the eastern states, and comp's are loosing up. Hell even the Ill casinos have sent some love, so I plan to stay away and play the more favorable gaming odds in nearby markets at least for spring and most of summer.
     
  7. zamboni

    zamboni VIP Whale

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    Resorts and shopping centers. And lets not forget dance clubs with millionaire DJ's spinning records.

    Vegas was founded and it was the only place around beside Atlantic City to gamble. I think there are casinos in just about ever state now, aren't there? That hurts. I can be at 5 different ones at least in a 3-4 hour drive. Personally I would rather go to Vegas, but there are a lot that would rather stick close to home and gamble
     
  8. lithium78

    lithium78 VIP Whale

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    Vegas just can't keep doing things the same way as they always did and expect it to keep working. The country has changed. Gambling isn't seen as a terrible vice anymore, so people no longer have to go to specific remote destinations like Nevada or Atlantic City to do it. AC has it even worse than Vegas right now. There is absolutely no reason to go there unless you want to gamble and now there's gambling in PA, MD, and DE and soon to be NY as well. Vegas has no choice but to make themselves over into a resort destination. Until that transition is complete, there is going to be a lot of pain for the casino operators for a while.
     
  9. brucky11

    brucky11 Tourist

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    I'm A low roller but get free rooms at the Flamingo. I use the free rooms but gamble elsewhere because the strip is tight and 6-5 BJ. I will continue to go to LV until airfares become to high. Right now they are $379 from CVG
     
  10. leo21

    leo21 VIP Whale

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    Numbers out of other states aren't pretty, especially in older markets. Vegas is doing well by comparison. It's not Vegas that is hurting, it's the industry as a whole.
     
  11. melbedewy

    melbedewy MIA

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    Now that is just NOT true. There are two dozen LV casinos you can play over 100% VP 24 hours a day 7 days a week not including comps, promotions or welfare checks.
     
  12. Viva Las Vegas

    Viva Las Vegas Elvis has left the building

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    IF

    We are trending there. Many casinos HAVE pulled their 99-100% machines. The strip and even downtown have increased 6/5 offerings over the years.

    Local joints and a few downtown / near strip casinos still offer all three. Most casinos offer 3/2 BJ and about half deal live poker, but most strip casinos do not offer decent VP beyond the $1-$5 level.

    I'm still able to find enough places I like to play in to keep visiting, but I wouldn't assume this will continue indefinitely. I gave up playing mostly BJ after S17 became the exception (Bellagio, MGM, Aria), not the rule. I'll do the same with VP (99.54% or better disappears), and I'm not flying out there to get drunk playing $4/$8 limit or under $100 poker tournaments.

    [YOUTUBE]l-ij_iTQt2w[/YOUTUBE]
     
  13. rrdoublet

    rrdoublet Tourist

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    As a shareholder in MGM, i'm quite confident Vegas is right smack in the middle of yet another re imagining. I agree with a lot of posters ITT that are saying gambling is no longer the central focus of Vegas as it shouldn't be. You can gamble anywhere now. "Partying in style" is now the focus, with gambling being a cog in the machine instead of the machine itself. Think about it, why the hell do we go to vegas? To gamble? God no, i can do that at home on the internet. I go to vegas to let loose, get free drinks while gambling, meet people, go to clubs, and party in a very high profile environment.
     
  14. Nick61

    Nick61 MIA

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    I suspected as much, revenues are in decline.

    I can usually tell this is occurring before it is officially reported, by gauging various property room prices. Room rates most recently appear to be trending lower.

    And you're right about the resort fees. They've gone way beyond what could be construed as fair.

    I don't worry about black jack. I quit playing years ago, when they changed all the rules eliminating the players edge, i.,e., the only chance you had of winning.
     
  15. LOCALGAMBLER77

    LOCALGAMBLER77 Local Las Vegan

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    Doom and Gloom?

    Yes, the numbers were bad in February, but since then gaming revenues have increased dramatically as well as visitor numbers. Also, Nevada continues to make major strides in Housing Values and Unemployment numbers. Definitely on the mend here. Las Vegas is on track to top 40,000,000 visitors this year for the first time. With the LINQ, Cromwell, SLS (soon) and upgraded shopping, Las Vegas will continue to improve and get better. Genting just got gaming approval for their casino license and building will begin soon on the next mega-resort! Onward!!! Good thoughts.
     
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