- Nevada Gaming Revenue By Casino Phone Number
- Casino Revenue By State
- Nevada Gaming Revenue By Casino 2017
'Downtown Las Vegas Area' is the name assigned by the Nevada Gaming Control Board NGCB which includes the Downtown Las Vegas area casinos and the Stratosphere Tower which is located 2 miles (3.2 km) from Fremont Street.[1] The city of Las Vegas uses the term Downtown Gaming for the casinos near the Fremont Street Experience.[2] The land is part of the 110 acres (45 ha) that were auctioned on May 15, 1905 when the city was founded.
Downtown competition[edit]
In fiscal year 1988 the ratio of revenue for the Strip compared to downtown was less than 3:1. In FY2008 the ratio is over 10:1. However, downtown rode the massive increase in tourist spending from 2004 through 2007 that swelled the non-gaming revenue of the area. Non gaming revenue and income hit an all-time high in FY2006.
The population of the city of Las Vegas has increased from 249,000 in 1990 to over 600,000 in 2010. In the interim three major hotels have been constructed inside the city limits (Stratosphere Las Vegas, Suncoast Hotel and Casino and Rampart Casino). The downtown casino district with over 1100 employees has remained important to the city. Since the majority of the casinos remain outside the city limit many people have been promoting the idea of a Consolidated city–county government as a more equitable way to share revenue.[3]
Aug 31, 2017 Nevada gaming revenue fell 1.7 percent in July to just under $998 million, but the state casino control board isn’t concerned. That’s because July 2016 was exceptionally strong, with total win. Oct 30, 2019 Gross gaming revenue (GGR) totaled $1.059 billion, the state’s all-time best mark for the month of September. The haul was a 6.8 percent increase on.
Casinos in the Downtown Nevada Gaming Area[edit]
This table includes large casinos inside the area limits. The table, game, and slot count is valid on December 31, 2008. The category of over $1 million and under $12 million are re-evaluated every fiscal year. FSE means Fremont Street Experience. Games refers to table games. License numbers are issued by city of Las Vegas.[4]
| License | Name | Category | Owner | FSE | Keno | Bingo | Sports | Poker | Games | Slots |
|---|---|---|---|---|---|---|---|---|---|---|
| G08-00014 | Golden Nugget | >$72m | Landry's Restaurants | Yes | Yes | Yes | 13 | 71 | 1358 | |
| G08-00003 | California | >$12m | Boyd Gaming | Yes | Yes | 32 | 1100 | |||
| G08-00023 | Main Street Station | >$12m | Boyd Gaming | 19 | 881 | |||||
| G08-00010 | Fremont | >$12m | Boyd Gaming | Yes | Yes | Yes | 31 | 1092 | ||
| G08-00009 | Four Queens | >$12m | TLC | Yes | Yes | Yes | 31 | 1026 | ||
| G08-00075 | Binion's | >$12m | TLC | Yes | Yes | 50 | 52 | 800 | ||
| G08-00051 | The D Las Vegas | >$12m | Stevens | Yes | Yes | 6 | 31 | 980 Fitzgeralds became The D Las Vegas Casino Hotel - Fall 2012 | ||
| G08-00006 | El Cortez | >$12m | Epstein | Yes | Yes | 3 | 21 | 1025 | ||
| G08-00078 | Plaza | >$12m | Tamares | Yes | Yes | 3 | 23 | 800 | ||
| G08-00060 | Las Vegas Club | >$12m | Stevens | Yes | 15 | 700 | ||||
| G08-00032 | Stratosphere Las Vegas | >$12m | ACEP | Yes | 8 | 56 | 1300 |
Monthly executive summary[edit]
A monthly report of gaming revenue is released about five weeks after the end of the month. These statistics are posted in several locations on the Internet. The Las Vegas Convention and Visitors Authority (LVCVA) posts an executive summary for forty one categories.[5] The number that gets the most attention is the percentage change of gaming revenue from the same month the previous year.
Historical data is released in various formats. The LVCVA maintains year to date and year end tables with on their site back to calendar year 2002.[6] Data presented in graphic form covering several years is easier to visualize.[7]
Nevada Gaming Control Board publications[edit]
The NGCB maintains a list of publications.[8] Cumulative data is reported in fiscal years (FY) (July 1 to June 30) instead of calendar years.
Downtown Las Vegas currently has 16 nonrestricted gaming locations that earn more than $1 million per year in gaming revenue. Since fiscal year 1990 when the Mirage opened on the Las Vegas Strip gaming revenue downtown has been flat. Non-gaming revenue has increased, but income also remains relatively flat. Some of the smaller casinos have since closed, and one major casinos hotel, (The Stratosphere) has opened. On average, the casinos that have less than $12 million per year in gaming revenue have a negative income.
- Based on numbers of hotel rooms, slot machines, and table games the three largest operations are (not in order of revenue) the Golden Nugget, the Stratosphere Las Vegas and Boyd Gamingdowntown division which consists of the Main Street Casino, the California Hotel and Casino, and the Fremont Casino.
- In 1990 one of the 11 casinos in the over $12 million category was the Golden Gate Hotel and Casino, but revenue is now under $12 million. The Stratosphere has taken its place.
- Of the 5 current license holders in the under $12 million category, 3 of them currently offer slot machines only (no table games, poker, racing or sports), and only 2 of them have small attached hotels (100 rooms apiece).
| Area December 2008 | Locations | Slot Machines | Table Games | Card Games | Calendar Year 2008 Gaming ($m) |
|---|---|---|---|---|---|
| Downtown | 16 | 12,034 | 395 | 50 | $578 |
| Strip Area | 41 | 50,158 | 2,737 | 403 | $6,126 |
| Clark County | 151 | 125,892 | 4,403 | 722 | $9,768 |
| Statewide | 261 | 171,693 | 5,605 | 913 | $11,543 |
For Downtown Las Vegas, the total revenue dropped after September 11 attacks in 2001 as it did in most resort areas including the Strip. Total revenue includes all sources of revenue for the property (food, drinks, attractions, etc.). Unlike the strip, income remained slightly positive, but revenue did not recover for three years. Profitability was restored during this period solely through cost-cutting measures. An analysis of the data could reveal how much of the cost cutting was payroll, cost of goods (food and beverage), and number of employees.
Beginning with December 2001, all of the properties changed ownership, at least once, with the exception of the 3 properties in the Boyd Gaming downtown division. Most ownership changes are accompanied by attempts to upgrade the properties with new restaurants, clubs, renovations, and games.
| FY | Fiscal Year | Income % | Total Revenue $m | Gaming Revenue $m |
|---|---|---|---|---|
| 01 | Jul 2000 – Jun 2001 | 1.89% | $1,102.63 | $671.9 |
| 02 | Jul 2001 – Jun 2002 | 0.05% | $1,085.73 | $661.4 |
| 03 | Jul 2002 – Jun 2003 | 2.20% | $1,085.72 | $655.2 |
| 04 | Jul 2003 – Jun 2004 | 3.88% | $1,085.73 | $653.4 |
| 05 | Jul 2004 – Jun 2005 | 4.42% | $1,112.60 | $658.6 |
Nevada Gaming Revenue By Casino Phone Number
Tom Breitling and Tim Poster were the highest profile successful entrepreneurs who profited in the downtown market during the last crisis. As recounted in Tom Breitling's book, Double or Nothing, the partners agreed to buy the Golden Nugget and had an agreement to sell the property after operating it for only one year.[10] The partners made $113 million in profit called the highest rate of return in such a short time in the gaming industry.[11]
By FY2006 total revenue for downtown exceeded that of FY2004 by $106 million. Margins (income over revenue), income, and revenue all reach record highs for downtown. Margins even surpass the Strip according to NGCB Data. Although the sale of the Golden Nugget is completed after six months needed to earn gaming license, no casino purchases are negotiated this fiscal year. Heartened by the improving economic conditions, the Lady Luck is closed for complete renovations.
On February 21, 2008 corporate raider Carl Icahn sold his four Southern Nevada casinos, comprising American Casino & Entertainment Properties anchored by the Stratosphere Las Vegas and realized a gain of $1 billion after a decade of investing in the market.[12] The price for the properties was agreed on the previous April, and was based on an appraised value of $718.443 million for the land. Although revenue drop has been comparatively benign in the recession, the interest on the long term notes for this land speculation has made the company unprofitable.
Revenue since July 1, 2006[edit]
Fiscal year 2006 (July 1, 2005 through June 30, 2006) set all time records for downtown Las Vegas in terms of total revenue gaming and non-gaming. Revenue in FY2007 and FY2008 dropped. But like the rest of Nevada FY2009 was the most severe fiscal year since downtown gaming peaked in the early 1990s.
- Boyd Gaming reported their year end revenue on February 26, 2009.[13] The downtown properties are one of the relatively brightest properties in their portfolio. The total revenue for the calendar year 2009 was $229 million vs $240 million for the year 2008 and $255 million for 2007. Collectively the Boyd Downtown Division is the currently the largest operation inside the downtown region.
Future prospects[edit]
The Lou Ruvo Brain Institute is currently finished construction.[14] The Smith Center for the Performing Arts was completed in 2012.
At the site of the former Holy Cow casino and brewery which closed in May 2002 (across the street from the Stratosphere and The SLS), a developer received preliminary approval to build a 98-foot (30 m)-tall video screen and a new casino. Aspen Highlands Holdings hope that the eye-catching attraction at the entrance to the city of Las Vegas will attract gamblers to the casino without an attached hotel.[15]
Profitability has the potential to increase after March 28, 2010 when the ACE bus rapid transit project comes on line. The ACE rapid transit system will have the appearance and feel of a light rail transit network. Traffic lights will be controlled by a system similar to the one that emergency vehicles use. This modern transit system made travel from Fremont Street to the Convention Center virtually the same as the Las Vegas Monorail transit time from in front of the MGM Grand.
Some downtown casinos may come on the market in the near future, as an investor will be eager to try to repeat the success of Breitling, Poster and Icahn. In an article by journalist Ben Spillman, he describes a report that looks at historical costs and provides accurate estimates of revenues of the individual downtown casinos.[16]
References[edit]
- ^'Gaming Revenue Report'. Nevada Gaming Control Board. September 30, 2012. Retrieved November 20, 2012.
- ^'Downtown Gaming'. Official City of Las Vegas website. Archived from the original on November 21, 2008. Retrieved December 1, 2008.
- ^'How City count Can Save Our Money'.
- ^'Gaming Enterprise Districts and Locations Approved for Non-Restricted Gaming'(PDF). Archived from the original(PDF) on January 24, 2009.
- ^'For Press & Research > Statistics & Facts'. LVCVA. Retrieved December 1, 2008.
- ^'Year to Date Tables 2008'(PDF). LVCVA. Retrieved December 11, 2008.
- ^Frank Martin (August 12, 2009). 'Monthly Gaming Revenue through June 2009'. Wikimedia Commons.
- ^'Nevada Gaming Commission List of Publications'. NGC. Archived from the original on May 21, 2009. Retrieved December 11, 2008.
- ^'Gaming Revenue Report Month Ended: December 31, 2008 (non-restricted)'(PDF). Nevada Gaming Commission. Archived from the original(PDF) on June 2, 2009. Retrieved December 11, 2008.
- ^Tom Breitling. 'Double or Nothing Video'. Retrieved December 11, 2008.
- ^Tom Breitling. 'Double or Nothing'. Retrieved December 11, 2008.
- ^Arnold Knightly (April 24, 2007). 'Corporate raider expects gain of $1 billion'. Las Vegas Review-Journal.
- ^'Boyd News Release'. Boyd Gaming. February 12, 2009. Archived from the original on February 13, 2009.
- ^'World Jewelry Center'. WJC. Archived from the original on December 26, 2008. Retrieved December 24, 2008.
- ^'BUSY INTERSECTION: Big sign planned for casino'.
- ^Benjamin Spillman (December 1, 2008). 'Downtown may lose a casino or two, analyst says'. Las Vegas Review-Journal.
For most of 2019, gambling revenue in Las Vegas has increased. It’s an exciting statistic, considering casino competition has been increasing around the US. Unfortunately, Nevada’s November gaming revenue dropped.
It’s not entirely surprising. November is considered one of the least-busy months for Las Vegas. It’s likely that gambling revenue will increase once again in December. Today, we’re going to look at exactly how much gaming revenue fell last month.
Let’s get into it!
2019 Proves to Be a Fantastic Year For Las Vegas Casinos
Las Vegas is still the country’s biggest and best gambling destination. In recent years, however, a huge number of states have begun to expand their casino industries. Many felt that this rise in competition would take a toll on Nevada. This did not turn out to be the case.
As we’ve already mentioned, gambling revenue has increased here for almost the entire year. This is especially true on the Las Vegas Strip. Here, nearly all of the casinos have experienced massive revenue gains.
This Summer was a particularly impressive season for gambling venues in Las Vegas. During June, July, and August, gaming revenue surged in the city. Hotel occupancy was also close to reaching record-breaking levels.
Even during Fall, casino revenue surged here. In October, gambling revenue here surpassed $1 billion. Revenue from the Las Vegas Strip during this month reached $538.5 million.
The next month, gambling revenue finally dropped. Reports on Nevada’s November gaming revenue have just been released. Here’s how the state’s gambling venues performed.
Casino Revenue By State
Nevada’s November Gaming Revenue Falls in November
November isn’t typically thought of as a popular gambling month for Las Vegas. Many individuals are gearing up for the holidays and aren’t interested in wagering their money inside casinos. This week, the NV Gaming Control Board released reports on Nevada’s November gaming revenue. Unfortunately, things didn’t turn out great.
According to these reports, gambling revenue was down 3.1% when compared to November of 2018. Overall, the state brought in $937.5 million in gambling revenue. In Clark County, where Las Vegas is located, revenue dropped by 3.4% to $805.2 million.
North Las Vegas casinos performed the worst. Casinos in this area generated just $19.3 million. This represents an astounding 15.3% drop from the same time last year.
Historically speaking, Baccarat is one of the best games for casinos to generate revenue. Interestingly, Baccarat revenue dropped significantly in November. Michael Lawton, a senior research analyst for the state Gaming Control Board, commented on this to the media this week.
“The continued trend of decreased baccarat volumes was the cause for this month’s decline as volumes of $557 million were down $247.4 million or 30.8 percent,” he said. “Baccarat volumes have only increased twice this calendar year and are currently down 14.9 percent through November.”
Sports betting proved to bring in a significant amount of revenue last month. Sports pools won $31 million, up 14.3 percent or $3.9 million compared to 2018. Overall, Nevada’s November gaming revenue drop doesn’t mean much. It’s likely that things have already bounced back in December.
Construction Continues on Resorts World Las Vegas
For years, officials in Las Vegas have discussed the impact that Resorts World will have on the city. It’s the most expensive casino-resort ever built in the city. Most feel it will be one of the best gambling venues ever built.
Initially, the hope was that this venue would open in 2020. Not long ago, former MGM Resorts executive Scott Sibella became president of Resorts World Las Vegas. He pushed the opening of the venue back until 2021.
Sibella claims that he wants to ensure everything is perfect by the time it opens to the public. He also added several entertainment features to the resort including a 5,000-seat theater.
Resorts World Las Vegas is opening in the northern area of the Las Vegas Strip. This is an area of the city that’s struggled to attract tourists. Hopefully, this new casino-resort will bring new life to the area.
Nevada Gaming Revenue By Casino 2017
Nevada’s November gaming revenue dropped. For most of 2019, however, the state has generated a huge amount of money from its gambling venues. Make sure to stay tuned for an update on December’s revenue earnings!