{"id":13665,"date":"2014-05-29T11:26:38","date_gmt":"2014-05-29T19:26:38","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=13665"},"modified":"2014-05-30T11:35:07","modified_gmt":"2014-05-30T19:35:07","slug":"pacquiao-impact-punchless-not-waiting-for-walker","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/pacquiao-impact-punchless-not-waiting-for-walker\/","title":{"rendered":"Pacquiao impact punchless"},"content":{"rendered":"

\"Cards<\/a>April’s gaming numbers from Nevada<\/strong> were received with varying degrees of gloom<\/a>. Not even a Manny Pacquiao<\/strong> fight could drive up the revenue figures, generally speaking. Baccarat, it goes without saying, was a different story, with 40% more revenue and 20% more wagers. Opined Stifel Nicolaus Capital Markets<\/strong>\u00a0analyst\u00a0Steven Wieczynski<\/strong>,\u00a0\u201cBy and large, we suspect evidence of strong baccarat play disproportionately benefited the operators with established Asian sourcing channels.\u201d (No shit!)<\/p>\n

Otherwise, table game revenue and play on the Strip were flat. Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> wrote that the baccarat result “masks [a] a core weakness,” pointing to “stagnant slot handle and non-baccarat table volumes.” J.P. Morgan<\/strong> analyst Joseph Greff<\/strong> countered that 2014’s\u00a04% decrease\u00a0was “a significant improvement from where trends stood two months ago.” One should hope so!<\/span><\/p>\n

All other major Nevada gambling jurisdictions — Downtown<\/strong> (-3%), Laughlin<\/strong> (-4%), North Las Vegas<\/strong> (-2%), Boulder Strip<\/strong> (-3%), Lake Tahoe (-42%), etc. –\"cards-casino\"<\/a>– were all down<\/a>. More optimistic than Santarelli, Greff said he believes “the overall recovery will continue as 2014 progresses.” It’s difficult, however, to reconcile the ‘meh’ figures with a 3.5% increase in visitation<\/a>. High occupancy — 96% on weekends — drove modest increases in ADRs and revenue per available room. Not even a reduction in the number of conventions (and conventioneers) could spoil the party. Drive-in tourism was up, too, 10% in Mesquite<\/strong>\u00a0and 4% overall.<\/span><\/p>\n

The gambling portion of the equation that is Las Vegas<\/strong> continues to rely on a shrinking pool of players<\/a> who — fortunately — put more money on the green felt \"dice\"<\/a>and into the slot hoppers. Last year, they spent on average $529.57, compared to $481.57 during the Great Recession. But 29% of Vegas visitors don’t gamble at all<\/a>, significantly up from 2009. “Convenience gambling” has leeched the Vegas visitor base, with 24% unlikely to pass over local casinos in favor of Vegas, way down from 39% in 2009. The good news for casinos is that the average patron is younger and wealthier … no need to fear a “graying” of the player base. Whereas 72% of tourists were over 40 in 2009, now only 58% are. Better still, the number of international visitors continues to rise.<\/p>\n","protected":false},"excerpt":{"rendered":"

April’s gaming numbers from Nevada were received with varying degrees of gloom. Not even a Manny Pacquiao fight could drive up the revenue figures, generally speaking. Baccarat, it goes without saying, was a different story, with 40% more revenue and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[88,51,14,49,78,9,19,20,38,170],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13665"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=13665"}],"version-history":[{"count":4,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13665\/revisions"}],"predecessor-version":[{"id":13692,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/13665\/revisions\/13692"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=13665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=13665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=13665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}