International edition
September 19, 2020

The casinos' most profitable sources of revenue are changing

Despite improvement, Nevada casinos continue to struggle

(US).- New numbers were released this week on the health of the gaming industry here in Nevada. Although casinos along the Las Vegas Strip suffered a us$ 2.5 billion loss in 2010, there may be a sign that things are getting better. Nevada's largest casinos lost us$ 3.4 billion during 2010, cutting in half the loss from 2009 of nearly us$ 7 billion.

B

ut, despite this improvement, economic analysts say it's still not where we want to be. The Gaming Control Board's annual report only focuses on the casinos in Nevada that rake in us$ 1 million more per year.

"Let's not fool ourselves in any shape or form," says Jeremy Aguero, Applied Analysis. "While things in this report reflect better performance by our core tourism industry, they are not a good performance. They are still losing us$ 3.4 billion. That means jobs are still at risk. The overall industry is not performing in a profitable way."

The report also indicates that the casinos' most profitable sources of revenue are changing.
"Gaming is representing a smaller and smaller share of the aggregate total. We've seen more growth in employment, in food and beverage in hotels and casinos than in casino operations," Aguero continues.

This is evident when talking to tourists."Believe it or not, I came to Vegas and didn't gamble one time," says Brooke Mahler. Adds Lindsey Coffman, "We spend most of our money on the food and the shows. We eat out over twice a day and it's over us$ 50 for sure, just for the two of us."

However, Aguero says it's going to take much more to get Las Vegas back on track. "It's going to take increased visitor volume, it's going to take increased consumer spending, as well as increased consumer confidence. "

The report also illustrates just how important Las Vegas is to Nevada's overall economy: Of the us$ 21 billion earned in total gaming revenue statewide, us$ 18 billion of that came from major casinos in Las Vegas.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook