Casinos on the Las Vegas Strip grossed $626 million last month, 20% better than August 2019. Statewide, the jump was 22% to $1.65 billion but the real overachievers were locals casinos, leaping 41% (to $250 million) with a little help from end-of-July slot revenues that were literally dumped into the early August grosses. Locals also demonstrated more resilience, down just 3% from an epic July, whereas the Strip slipped 21% month/month. Strip slot win was $358 million, a 38% vault on 26% more coin-in (plus tighter hold). Table game win—$259 million—was relatively static, up a point, on 4% higher wagering. Subtract baccarat and it looked better, 7% more win on 12% larger betting. Not that baccarat was bad: Win was down 7% and play was 8% lower, pretty good when you consider the game’s high volatility.
Downtown jumped 42% to $64 million, while North Las Vegas grew 19.5% to $23 million and the Boulder Strip rocketed +67% to $91 million. Laughlin only climbed 6% to $41 million while miscellaneous Clark County hopped 32% to $136 million. Reno eked out a 1.5% gain to $65.5 million, Lake Tahoe was—given the conflagrations nearby—surprisingly only flat at $23.5 million and the Elko region, which includes all-important Wendover, nudged up 8% to $29 million. Amazingly, the Strip numbers were accomplished with 14% fewer air passengers than two years ago, including less than 80,000 international travelers (that number shouldn’t expand until next month). Domestically, passenger loads were down only 8.5%. As for airlift capacity, the market could be summarized as Southwest Airlines and Everybody Else. Given our recent experience on American Airlines, we don’t blame anyone for preferring Southwest.
Before Coronavirus laid us low, we were busy beavers on Casino Life Magazine. You can read our thoughts on “Covidiots” and Macao, find out why Century Casinos is evacuating Europe and eliminating buffets from its Missouri casinos, get the inside scoop on Park MGM from President Ann Hoff, get a preview of post-Covid Global Gaming Expo, explore the question of to what degree AI is really “artificial” and get the state of the overseas casino industry from Per Jaldung of the European Casino Association. Enjoy!
Jottings: Humor-impeded poker pro Scott Robbins has dropped a $1.2 million lawsuit against Borgata. The resort 86’s him after he ‘jokingly’ asked a check-in clerk “If I had to jump from a low floor window, would I make it?” (As in die.) He was subjected to an involuntary hospital visit and a psychiatric evaluation. Robbins indicates that he and the casino settled out of court … Speaking of Borgata, we’ve been hearing rumblings about its superannuated slot product. Seems that many machines date back to 2010, even 2006. Also, some ‘vintage’ slots have been turned off during Coronavirus and never (understandably) reactivated … Hard Rock Live, the new entertainment arena in Gary, will debut Nov. 4. The venue seats 2,000 with space for 200 in standing room … Las Vegan Gregg Fisher is vying to be in the Guiness Book of World Records for having the largest casino-chip collection. Fisher’s stash of 2,222 chips will be evaluated over a three-month period … Laid low by Covid-19, casino megaresort Genting Highlands will be back on its feet by Oct. 1—sooner than us … Caesars Sportsbook logos, in minuscule form, will appear on the uniforms of the NHL‘s Washington Capitals, but only during home games. They’ll be packed away for road games, in deference to states that have not legalized sports betting … We’d better learn how to spell Yaamava’ Resort & Casino, the new name of the San Manuel Band of Mission Indians‘ home-base resort. The purpose of the name change “allows the tribe to pursue additional growth opportunities,” as in renaming Palms Casino Resort perhaps? Yaamava’ means “spring” in Serrano.
Quote of the Day: “I saw this for Harrah’s AC: ‘10/16 • BLOOD, SWEAT AND TEARS HARRAH’S RESORT ATLANTIC CITY’ and I thought they meant how most customers feel when they leave any casino, anywhere. I was wrong, they are selling tickets for a music group.”—from our Atlantic City correspondent.
Borgata, while still the supreme leader in AC has not been managed well since Boyd gave up their operating control when they sold there interest to MGM. It is mega resort for that market but had a personal touch right on down to Bill Boyd attending dinners and events there. There marketing and player development members all moved on to Hard Rock and Ocean (hence part of the more recent success of those two resorts).
I will personally never forget that during a pandemic and accompanying economic hard time for most, that the casinos made bank on stimulus money and “thanked” the dedicated players responsible for the success by jacking up table minimums, laying off staff, and trying to change the literal semantic word meaning of “housekeeping”… I use my feet, my feet are not coming in to town to play $15 minimum craps Downtown during daylight hours. I do not root for the Las Vegas casinos to do bad generally, but the crap sandwich they are currently serving to players during good financial times for them leaves a mark on me. I say beat the freaking virus, get your conventions back, and begin the healing process. If super high minimums persist after resolution, just expect many will lose interest in visiting, and stay home…
David, how are you feeling? Has it nailed you, or is it more of a mild thing. Lots of us wondering.
Lucky, thanks for asking. I’m tired and ache-y but otherwise not suffering anything indistinguishable from the flu. I’ll try to post some S&G today but can’t make any promises. I’ll also be covering some Global Gaming Expo panels remotely for CDC Gaming Reports (shameless plug), thanks to AGA prexy Bill Miller’s vigorous use of virtual conferences. It’s not as good as going to Vegas but it will have to do.
David, glad its not nailing you. i have other friends that were vaccinated that came down with it, but most of them did not even know they had it, getting tested for work. Only one had a tough time, but nothing deserving a ride to the ER.