Energy woes may not hurt casinos much
Friday, March 30, 2001 | 11:12 a.m.
A gaming analyst says the financial impact of higher utility bills in California won't be as dramatic on Las Vegas casinos as earlier anticipated.
David Anders, a gaming and lodging research analyst for New York-based Merrill Lynch, said not every consumer would be paying the highest rates.
"Earlier this week, the California Public Utilities Commission approved an across-the-board rate increase on electricity in the state," Anders said in his report. "This action will boost rates by as much as 42 percent for some Southern California Edison customers and up to 46 percent for some served by Pacific Gas & Electric Co.
"Given that Southern Californians represent 25 percent of total Las Vegas visitation, we initially believed that this dramatic increase would significantly hurt some of the city's most important customers. However, upon further review of the facts, we are not convinced that the increase, in absolute dollar terms, will be as dramatic as we thought."
Anders explained that the tiered system of rate increases means that the biggest electricity users will pay the steepest rates. That means the impact won't be as great on the average consumer.
archive
- Most Read
- Discussed
- Most E-mailed
- Scientology foe’s arrest raises issue of rights
- ‘Stripper-mobile’ with live dancers raises safety, decency concerns
- Manny Pacquiao, Miguel Cotto arrive at MGM Grand
- Miguel Cotto camp says big cut in June fight an asset now
- Cada cherishes moment as poker’s youngest champ
- $5.1 million later, life goes on for Darvin Moon
- Vegas resorts get new places on Monopoly game board
- Fight snapshot: Arum takes a pot shot during Pacquiao training
- Rebels old and new celebrate anniversary of 1990 title
- Live Main Event blog from the Rio
Blogs
Shark Bytes
Players on championship team always worked hard (3 Comments)
Sports: Upon Further Review
Fight snapshot: Predictions for Pacquiao-Cotto
The Kats Report
A lesson in information dissemination, with a little Twitter and a lot of Agassi
Now and Then
Ichabods were tougher than they sound
Politics: Ralston's Flash
I shudder to think what the “amazing door prize from the governor” might be (3 Comments)
Pew Center report finds what others have: Nevada's economy depressed, future in doubt (6 Comments)
Elsewhere
Kelly Pavlik to fight in hometown on Dec. 19
Calendar »
- 11 Wed
- 12 Thu
- 13 Fri
- 14 Sat
- 15 Sun
-
Foreigner at Star of the Desert Arena
Star of the Desert Arena
-
Days of the New at Wasted Space
Wasted Space | 10 p.m. to 11:59 p.m.
-
DJ Boris at Godskitchen
Body English | 10:30 p.m. to 11:30 p.m.
-
Holding on to Sound at Beauty Bar
Beauty Bar | 10 p.m. to 11:59 p.m.
-
Rockabilly Wednesay at Revolution Lounge
Beatles Revolution Lounge | 10 p.m. to 11:59 p.m.
The Sun
Locally owned and independent for more than 50 years.
Technorati












