We’re no longer number one! in the LVBP

I’ve got a new piece in the Las Vegas Business Press about how Las Vegas is going to have to adjust to no longer being number one in gaming:

In June, Macau casinos took in about $2.6 billion in revenues, an increase of more than 50 percent from the previous year. This achievement highlights the dominant place that Macau has taken in the gaming world, and is another reminder that Las Vegas isn’t what it used to be … and that’s not necessarily a bad thing.

via Las Vegas Business Press :: David G. Schwartz : Slip in gambling rankings not bad thing for Vegas.

It’s been a while since Macau knocked Las Vegas out of that number one spot, but I really think it has just begun to sink in. Hopefully now we can start moving forward, to whatever the future holds.

Author: Dave

Director of the Center for Gaming Research at the University of Nevada, Las Vegas and author of several books, including Roll the Bones: The History of Gaming. Also Gaming and Hospitality editor for Vegas Seven magazine.

3 thoughts on “We’re no longer number one! in the LVBP”

  1. So what can Las Vegas really offer? Sandstorms, monsoons, cheap land and high electricity rates, high winds, hot sun? What is it that is going to make people come to the middle of the Mojave desert?
    High end restaurants? How many of them are inside of casinos or linked to casino comp systems? Fine wines? Same story! Crime? Even the muggers and robbers in this town are pretty much the same as those found elsewhere. Hotel rooms? You already got lots of those, many of them empty or at break even for what looks like two more years.
    So I’m all for diversification but to me that means Vegas must prepare for both left handed and right handed dice shooters.

  2. If one analyzes a good sample of the various blog entries it seems that visitors to Vegas who do gamble tend to do it in close relationship to various meal comps and free-play comps as well as room comps. For a long time one third of hotel rooms were comped in this town but it seems that room credits and meal credits are in the ascendancy. Casinos give away rooms and meals to get casino action that would hardly be noticeable a few years ago.
    Vegas has had alot of empty homes and empty commercial buildings. It did nothing with them to lure anyone here. The sin city image is Sex, drugs and rock ‘n roll, the casinos want it to be Sex, gambling and rock ‘n roll. The reality seems to be Sex, gambling and HIpHop. Pool Parties and Night Clubs are vast meet markets that take care of the sex. The women prowling the casinos take care of the males too old to get any action at the club or pool scene. The music scene apparently takes care of itself with an occasional prodding by ear plug vendors. The gambling is taken care of by the casinos but it seems Vegas may have to go back to fifty cent chips to take care of all those fleas.

  3. In 2010 37.3 million tourists visited Las Vegas. In 2010 $36.9 billion dollars was the amount of money spent in Las Vegas; $7 billion dollars of it went to gambling. Shows, hotels rooms, restaurants, nightclubs and shops accounted for the rest.

    Divide $36.9 billion dollars by 12 months and it comes out to a little over $3 billion dollars a month is spent by tourists in Las Vegas. Not to shabby in my opinion.

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