A November to remember

Things are looking up in Nevada for the first time in a long time. The state’s casinos won more money from gamblers this November than they did last November. Yet there may be another story that isn’t as positive lurking beneath the numbers. From the LVRJ: For the first time in 23 months, Nevada gaming … Read more

AC had a bad 2009

The Atlantic City gaming numbers are in, and 2009 was definitely not pretty. From the AC Press: Casino revenue plunged for the third straight year in 2009, falling below $4 billion for the first time since 1997 as the soft economy and competition from neighboring slot parlors continue to erode the Atlantic City market. Year-end … Read more

Thoughts on October Revenues

The Nevada gaming revenue figures for October have been released, and they don’t look promising. From the LVRJ: Nevada gaming revenues hit a new low in October. Statewide gaming revenues were $800.3 million, the lowest monthly figure in almost six years. The decline was 11.6 percent compared with $904.9 million reported a year ago. October … Read more

Billion-dollar musing in the LVBP

In the midst of all the talk about Vdara, I thought I’d mention my latest article in the LVBP: While doing some research, I recently happened across an article in the July 1997 issue of Casino Executive magazine in which then-Harrah's Entertainment CEO Phil Satre sounds downright oracular. “If you're the last person to build … Read more

An alternative to low room rates?

Is the law of supply and demand catching up with casino hotels in Las Vegas? Binion’s hotel downtown is closing, which may be a sign of things to come if casinos aren’t able to raise their room rates and/or maintain high occupancy. From the LV Sun: Binion’s Gambling Hall & Hotel in downtown Las Vegas … Read more

Higher hold=less play?

As you may know, I’ve been immersed in a mammoth study of Nevada casino slots’ hold percentages. It’s driven by the question: “Does raising hold percentage actually decrease play?” That would seem to be the intuitive answer. If people get less value for their dollar (assuming that value=time on device), then they will be less … Read more

21 and counting

Gaming revenues fell about 9 percent in September, compared to the previous year’s take, as the slump continues for a 21st month. From the LVRJ: Nevada gaming revenues fell for the 21st straight month in September.Casinos statewide collected $911.1 million during the month, an 8.99 percent decrease compared with a little more than $1 billion … Read more