Casino revenues: gambling's contribution declines

https://www.vegasinc.com/news/2012/jan/06/shift-spending-gambling-continues-state-reports/

Thanks Westie, for posting that!

I think that part of the lower amount of casino play may involve the casinos not lowering table minimum bets so more people might afford to bet (such as lowering minimums at Blackjack or the betting minimum at Craps [where players might be able to use Quarter or Fifty-Cent chips as betting units]).

RecVPPlayer

Personally I feel that gaming revenues will continue to decline due to the tightening of the payoffs for slots and video poker. People are tired of getting less play and having the slot clubs revamped under the guise that the revamping will mean more benefits for the players.

And yes, I also agree with drmilled that part of the gambling contribution declines is due to the "tightened" up machines that casinos have been offering which enable players to play for less time due to the casinos causing higher money drain for the players.

I also think that more and more players are finding and realizing that casino play when the returns are tightened up by the casinos to be not much worth it.

And I also definitely believe that not only did casinos overbuild (and aim towards too high-end accommodations) but also that their consolidation (like Harrah's/CET and MGM/Mirage/Mandalay Bay Groups owning so many casinos) has decreased the amount of competition out there and then increased the prices for the public.

And so with the public having less disposable income in combination with the casinos tightening up and offering players less, this I think will continue to cause the players to allocate less and less money for casino play.

RecVPPlayer

I have another take on the gambling revenue decline-- In the 90's the strip hotels advertised the "family friendly" Las Vegas (that was a bust), Now all the Strip (and upscale off-strip) hotels have two or three "nite-life" clubs catering to the younger party type. These people do very little gambling. They "party" all night, sleep all morning, and go to the pool all afternoon, leaving no room, or money, for gamblimg. I wonder, is this type of revenue enough to make up the loss of gambling revenue?

Believe it goes beyond that. It used to be Vegas hotels were gambling places which also offered spas, golf, fine food and entertainment. That dynamic has shifted and now the premier hotels are resorts which also offer gambling.

Just ask Sheldon what happens when you stiff your gamblers, and only wants conventioneers?
Your hotel increases 4 %, while your casino revenue Declines almost 50%.
That's a HUGE LOSS.
He's since (quietly) changed his mind & opened back up the gates.
It's not rocket science. Me thinks they need to read the boards at what REAL people think,
and not listen to just the Suits.

Here - they are telling a different story.

https://www.marketwatch.com/story/nevada-gambling-revenue-spikes-71-higher-2012-01-11?siteid=yhoof2

Who is telling the truth???