{"id":30405,"date":"2021-11-30T12:52:20","date_gmt":"2021-11-30T20:52:20","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=30405"},"modified":"2023-09-14T14:03:33","modified_gmt":"2023-09-14T22:03:33","slug":"strip-sizzles-locals-thriftier-penns-pride-and-joy","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/strip-sizzles-locals-thriftier-penns-pride-and-joy\/","title":{"rendered":"Strip sizzles, locals thriftier; Penn’s pride and joy"},"content":{"rendered":"\n
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While tourists were more open-handed than ever, cash flow among Las Vegas<\/strong> locals may be drying up, as win\/day fell 11% from September. By contrast, the same metric from the Las Vegas Strip<\/strong> was +6%. Further tipping the scales against locals-oriented casinos was the fact that Oct. 31 fell on a Sunday, meaning that two days of weekend slot revenue will be sloughed into November, per ancient Nevada<\/strong> accounting quirk. No need for crying towels: Locals still shed 3% more than in 2019. Slot win was up 2% on 11% more coin-in. That paled in comparison to the Strip, though, up a whopping 30%. Strip slot revenue of $368 million rose 21% on 26% more coin-in (and lower hold) while non-baccarat table win was 26% higher on 49% greater wagering. But the number that gladdened casino executives’ hearts the most was the amazing, 63% rise in baccarat win ($91 million)\u2014even before international players have returned in earnest\u2014despite 13% less wagering. Overall, Strip casinos won $702 million.<\/p>\n\n\n\n\n\n\n\n

All this was accomplished in an October in which visitation was down 8% from two years ago, which says a lot about the f-you money Americans have to blow on a Vegas vacation. 3.4 million visitors was a 16% acceleration from September and puts quite a tailwind into the winter months. Occupancy was 81.5%, enabling resorts to realize $154\/night in revenue per available room, as average daily rates shot up 26%. The weekday\/weekend split was 77.5% occupancy vs. 90.5%, with an “improving convention segment” credited. Airline passenger loads were down 9% but drive-in traffic was up 5% overall and 11% from California<\/strong>, further fueling the recovery.<\/p>\n\n\n\n

Except for miscellaneous Clark County<\/strong> ($132 million, +19%), all jurisdictions paled in comparison to the Strip. Downtown<\/strong> casinos won $76 million, up 11%, Boulder Strip<\/strong> ones pulled in $68 million (-14%), meaning ‘Don’t reopen Eastside Cannery<\/strong> yet, Boyd Gaming<\/strong>.’ A pallid North Las Vegas<\/strong> was down 13% to $23 million and Laughlin<\/strong> slipped 7.5% to $41 million. Reno<\/strong> swelled 17.5% to $72.5 million and Lake Tahoe<\/strong> grossed $16 million (-18%), suggesting a hangover from the Caldor wildfires. The Elko<\/strong> area, which includes Wendover<\/strong>, grew 28% to $32 million, so say a thank-you to all those Utah<\/strong>-fleeing customers.<\/p>\n\n\n\n

‘Stool sample: New York<\/em> Magazine takes a deep dive into the septic tank that is the world of Barstool Sports<\/strong> founder Dave Portnoy<\/strong>, aka<\/em> “the King of the Dipshits.” A typical Portony-ism: \u201cEven though I never condone rape, if you\u2019re a size 6 and you\u2019re wearing skinny jeans you kind of deserve to be raped right?\u201d Even though it has cost Penn National Gaming<\/strong> a shot at New York State<\/strong>, Penn CEO Jay Snowden<\/strong>‘s bromance with Portnoy<\/a> continues to blow fervidly (although Snowden recently issued a non-apology apology to Penn employees for some certain Portnoy escapades). Barstool is a cash cow and is long as it keeps pumping out gold-plated manure, Penn is evidently prepared to follow it as low as Portnoy can go.<\/p>\n","protected":false},"excerpt":{"rendered":"

While tourists were more open-handed than ever, cash flow among Las Vegas locals may be drying up, as win\/day fell 11% from September. By contrast, the same metric from the Las Vegas Strip was +6%. Further tipping the scales against locals-oriented casinos was the fact that Oct. 31 fell on a Sunday, meaning that two […]<\/p>\n","protected":false},"author":83928,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1728],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/30405"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/users\/83928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/comments?post=30405"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/30405\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=30405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=30405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=30405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}