{"id":25243,"date":"2019-10-31T10:50:34","date_gmt":"2019-10-31T18:50:34","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=25243"},"modified":"2019-10-31T10:50:34","modified_gmt":"2019-10-31T18:50:34","slug":"vegas-tourists-locals-flex-economic-muscle","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/vegas-tourists-locals-flex-economic-muscle\/","title":{"rendered":"Vegas tourists, locals flex economic muscle"},"content":{"rendered":"

Both the Las Vegas Strip<\/strong> and Nevada<\/strong> casinos as a whole were up 7% in September, with locals action up a bullish 9.5%. “We think this data suggest less potential gaming-related risk to MGM<\/strong>\u2019s 3Q19 results as well \"\"as [Station Casinos<\/strong>‘]\u00a0LV Locals Core (i.e., ex. Palms<\/strong>) 2% top-line growth expectation,” wrote J.P. Morgan<\/strong> analyst Joseph Greff<\/strong>. The Strip’s buoyancy was driven by baccarat win, vaulting 56%. Slot win was up 7.5% on 2% higher coin-in. Looking ahead to the October report, it will be difficult for the Strip to repeat these numbers, seeing as 2018 saw 12% growth (but 11% less baccarat win). Non-baccarat table games were down 11% on 10.5% less betting, underscoring the importance of baccarat. Locals slot revenue rose 12% on 1% more coin-in and furthermore benefited from some end-of-August slot win being rolled into September.<\/p>\n

The Strip performance was all the more remarkable when you consider that Las Vegas<\/strong> visitation was relatively flat and occupancy only 88% (but 95.5% on weekends). Convention business was up 5%, with the Pack Expo<\/strong> and\u00a0 International \"\"Baking Industry Expo<\/strong> returning to Sin City. Room revenues were $133\/room on $148 average daily rates. California auto traffic was down 2.5% and flat at the other borders.<\/p>\n

Strip casinos grossed $584 million. Downtown<\/strong> leapt 20% to $66 million, North Las Vegas<\/strong> grossed $27 million, up 13.5%, and the Boulder Strip<\/strong> rose 10.5% to $74.5 million. Miscellaneous Clark County<\/strong> grossed $112 million for an 8% gain while Laughlin<\/strong>‘s $40 million represented a 4.5% uptick. Reno<\/strong> slipped 4% to $55 million, while Lake Tahoe<\/strong> gained 2.5% to $18 million.<\/p>\n

* It was bound to happen. Somebody has opened a wedding chapel at Pawn Plaza<\/strong> and that somebody was Rev. Scott Polek<\/strong>. Aptly, the opening is scheduled for today (Halloween). It’s offering something called “The Pawn Stars Experience Wedding Package,” as well as “Las Vegas Friendship Ceremonies” to consecrate bromances and such. The avowed goal of Chapels at the Pawn<\/strong> “is designed to bring back the feeling of Las Vegas weddings to Las Vegas.” In other words, cheap, quick and sordid.<\/p>\n","protected":false},"excerpt":{"rendered":"

Both the Las Vegas Strip and Nevada casinos as a whole were up 7% in September, with locals action up a bullish 9.5%. “We think this data suggest less potential gaming-related risk to MGM\u2019s 3Q19 results as well as [Station … 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":[88,274,51,76,49,245,79,57,9,19,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25243"}],"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=25243"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25243\/revisions"}],"predecessor-version":[{"id":25244,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/25243\/revisions\/25244"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=25243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=25243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=25243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}