{"id":28066,"date":"2020-09-30T08:13:35","date_gmt":"2020-09-30T16:13:35","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=28066"},"modified":"2020-10-05T10:54:32","modified_gmt":"2020-10-05T18:54:32","slug":"strip-lags-nevada","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/strip-lags-nevada\/","title":{"rendered":"Strip lags Nevada"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"768\" height=\"1024\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2020\/03\/Harrahs-Linq-768x1024.jpg\" alt=\"\" class=\"wp-image-26476\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2020\/03\/Harrahs-Linq-768x1024.jpg 768w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2020\/03\/Harrahs-Linq-113x150.jpg 113w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2020\/03\/Harrahs-Linq-225x300.jpg 225w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2020\/03\/Harrahs-Linq.jpg 1512w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<p class=\"has-drop-cap\">Silver State gaming revenues were down 22% last month, largely retarded by the <strong>Las Vegas Strip<\/strong> (-39%), while locals revenues showed remarkable strength, rising 10%\u2014particularly impressive given the high level of unemployment in <strong>Nevada<\/strong>. The statewide gross was $743 million: not the good old days but encouraging nonetheless. Strip slots ($174 million) were down 33% on 27% less coin-in, while baccarat plunged 55% on 18% lower wagering, meaning the casinos got their collective clock cleaned by the high rollers. All other table games were down 39% on 31.5% less betting. Inclusive of baccarat, tables grossed $139 million. <\/p>\n\n\n\n<p>Locals slot win was aided by a weak August 2019 comparison but the haul was up 12% despite 7% lower coin-in. Wrote <strong>JP Morgan<\/strong> analyst <strong>Joseph Greff<\/strong>, &#8220;we view this report as strong considering present gaming capacity constrictions.&#8221; He continues to like <strong>Station Casinos<\/strong> and <strong>Boyd Gaming<\/strong> over Strip-dependent stocks. (The locals numbers might encourage <strong>Frank Fertitta III<\/strong> to take the wraps off <strong>Texas Station<\/strong>, <strong>Fiesta Henderson<\/strong> and <strong>Fiesta Rancho<\/strong>\u2014and keep them firmly on the Strip-ish <strong>Palms Casino<\/strong>.)<\/p>\n\n\n\n<!--nextpage-->\n\n\n\n<p>Broken down by market, <strong>Downtown<\/strong> was off 21.5% ($35.5 million), <strong>North Las Vegas<\/strong> ($20 million) nudged up 2% and the <strong>Boulder Strip<\/strong> swelled 29% to $71 million (promising news for still-shuttered <strong>Eastside Cannery<\/strong>), while miscellaneous <strong>Clark County<\/strong> enjoyed a 1.5% blip up to $104.5 million. <strong>Laughlin<\/strong> slipped 9.5% to $35 million while <strong>Mesquite<\/strong> was <em>up<\/em> 9.5% to $10.5 million. Thank god for gaming-starved Mormons. They didn&#8217;t spread the love to <strong>Wendover<\/strong> this month, however, down 8% to $17 million. <strong>Reno<\/strong> had a bad month, slipping 15% to $55 million, while <strong>Lake Tahoe<\/strong>&#8216;s $22 million was only a 7.5% concession. Regarding Downtown&#8217;s poor showing, <strong>Derek Stevens<\/strong> is pushing back with an ad buy for <strong>Circa<\/strong> that will air during <strong>MLB<\/strong>&#8216;s Wild Card playoff games:<\/p>\n\n\n\n<figure><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/zFvLqKWeJbg\" allowfullscreen=\"\"><\/iframe><\/figure>\n\n\n\n<p>\u201cThere is pent-up demand for <strong>Las Vegas<\/strong> experiences and this commercial hints at the \u2018wow\u2019 moments we plan to introduce,&#8221; Stevens said. If you emphasize &#8220;experiences,&#8221; he&#8217;s right on the money. An <em>S&amp;G<\/em> pen pal recently canceled a three-day\/$150 stay at a major Strip hotel because there&#8217;s almost nothing on offer currently but gambling\u2014and most Americans can do that close to home. (Can the experiential focus of Circa elevate other Downtown resorts? They sure must be hoping it does but it&#8217;s going to be a heavy lift.) Yup, Vegas definitely needs to offer some experiences, as the weak August gambling numbers indirectly affirm. Remember that, in April, <strong>Jeff Hwang<\/strong> predicted in <em>The Motley Fool<\/em> a 12-18 month window for a Strip recovery. Based on three months&#8217; revenue, his prediction appears to remain on target. You can revisit <a rel=\"noreferrer noopener\" href=\"https:\/\/ggbnews.com\/article\/ggb-news-special-report-jeff-hwang-explains-his-motley-fool-article-about-the-opening-of-las-vegas\/\" target=\"_blank\">his elaborated prognostication<\/a> and decide for yourself.<\/p>\n\n\n\n<p class=\"has-drop-cap\">Finally, to end on a positive note, <strong>Beau Rivage<\/strong>&#8216;s poker room will reopen tomorrow\u2014with precautions. Play will be spread across nine tables, six players apiece. Masks yes, smoking no, table side food no. But it&#8217;s a start.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Silver State gaming revenues were down 22% last month, largely retarded by the Las Vegas Strip (-39%), while locals revenues showed remarkable strength, rising 10%\u2014particularly impressive given the high level of unemployment in Nevada. The statewide gross was $743 million: &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/strip-lags-nevada\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[88,60,155,51,14,76,126,245,35,207,78,79,57,9,38,247],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28066"}],"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=28066"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28066\/revisions"}],"predecessor-version":[{"id":28067,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/28066\/revisions\/28067"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=28066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=28066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=28066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}