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StumbleGaming:
Strip gaming win drops 9 percent in August
Published Thursday, Oct. 8, 2009 | 8:32 a.m.
Updated Thursday, Oct. 8, 2009 | 9:46 a.m.
CARSON CITY – Gambling winnings at the casinos on the Las Vegas Strip plummeted 9 percent in August, the 20th straight month of a decline.
“I don’t know if we’re at the bottom yet,” said Frank Streshley, chief of tax and licensing for the Nevada Gaming Control Board, which released the monthly gaming win this morning.
The board reported casinos statewide won $897 million, down 9.3 percent, also the 20th straight month of falling revenue. Total wagering fell by 13.4 percent, said Streshley who added that players are spending less time at the tables and slot machines.
August was an “unfavorable month," Streshley said. The Labor Day holidays, usually good tourist times, fell in September this year.
The 40 casinos along the Strip won $449.5 million before taxes and business expenses. Strong play in Baccarat, which rose by 48.5 percent, saved the Strip from suffering a double-digit decline.
Streshley said casinos along the Strip reported they saw a return of “premium international players” because of the weak dollar. The only strong points in slot machine play were the penny machines, which were up 17.5 percent, and $100 machines, which rose 15.4 percent compared to August 2008.
Gross win in the 21 games fell 26.2 percent; craps was off 54.5 percent; roulette fell 42.5 percent and the sports pool gross win dropped 70.1 percent.
Slot machine play on the strip was off 8.9 percent.
The 9 percent decline on the Strip compares to a 7.4 percent drop in August a year ago. But the 9 percent is only the second single-digit decline in the last 11 months. All the rest have been double-digit drops.
The board reported casinos in downtown Las Vegas won $41.9 million, off 3.8 percent. Casinos in North Las Vegas rose 21.9 percent to $22.1 million. But that increase was due to the new Aliante casino, which wasn't open a year ago.
Laughlin casinos reported $38.1 million in gross win, down 13.8 percent. Casinos on the Boulder Strip posted a 21.5 percent increase to $63.4 million in gross win. However, the M Resort, included in the Boulder Strip numbers, wasn't open a year ago.
Casinos in the balance of Clark County recorded $84.3 million, down 12.2 percent.
Washoe County posted a 20.9 percent decline with $73.8 million in gross win. It was the 26th straight decline in Washoe County. And it was the smallest gross win in the month of August since 1989.
South Lake Tahoe casinos won $21.9 million, down 28.9 percent. Casinos in the Carson Valley area reported gross win of $8.6 million, off 17.1 percent and Elko County clubs fell 14.9 percent to $22.2 million.
The state collected $49.6 million in taxes, down 13.4 percent from a year ago.
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Let's hope that this is the last month for revenue declines. The turn around is long overdue.
I somehow doubt that a turn around is in the near future.... not to mention the inordinate amount of greed by these casinos is endearing any one to come out here and play...
they ruined slots with paper tickets, and could shed a hellova lot of emplyees. used to be able to play 1$'s, then .25cents , then nickels, now penny slots. you.ve taken equal out of coffee shops and put in a derivitive. where the hell you going next you dumb s----. 9 percent from last years crummy numbers, time to give the rich guy a raise. most of us small gamblers that played all day on our stays have been driven out to support the whales and dumb lounge crowd. how's that workin.
there will be much more of a decline, especially on the Strip. locals casinos treat their customers much better. Me, myself, a tourist, I also noticed that my dollars are way more welcome at the locals' properties than on the Strip.
Well, I don't care whether they finally figure out that they should change their strategy or not. Fortunately, we do have a lot of options where to play and where to stay.
oh, by the way, the hassle at the US customs for all visitors should stop, too. When Americans come to Europe, they can clear the customs without problems, no stupid questions asked, no forms to fill out, no finger screens and photo shots. These are all indicators that the global visitor is not quite happy when coming into the U.S.
From Switzerland
You get the feeling you might as well hand over your money at the door because you know that you will not win. I believe the slunp will continue.
Put it this way: Casinos are not there to hand you out their money. You are there to hand over your money to them. It's only a matter of time until the gambler's money is in the casino cage. It's just sad that the casino decided not to give us the fun time factor. When you lose your money too fast, I don't like it anymore.
there will be much more of a decline, especially on the Strip. locals casinos treat their customers much better. Me, myself, a tourist, I also noticed that my dollars are way more welcome at the locals' properties than on the Strip.
Well, I don't care whether they finally figure out that they should change their strategy or not. Fortunately, we do have a lot of options where to play and where to stay.
oh, by the way, the hassle at the US customs for all visitors should stop, too. When Americans come to Europe, they can clear the customs without problems, no stupid questions asked, no forms to fill out, no finger screens and photo shots. These are all indicators that the global visitor is not quite happy when coming into the U.S.
From Switzerland
....For anyone and everyone that cares anything about this town,
this should be a posting that should get ones attention.....
...Just thinkin' out loud...
As everyone already knows, the market is way over saturated.
City Center will be the death blow as overhead will make these gambling factory's tumble like dominoes
Hey Zzyzx: SATURATED???? no way!!!!! I hear City Center is going sell those $900,000 condos for $65,000, then they are going to put in over 131,500 penny slots (on every floor and in the pool areas, + bathrooms)
They will set them to pay out at 60%.
In 16 years time, they will turn around that -9%.....to -8%
Babo, from Argentina
By the way, of the 131,500 penny slots, "I know" the "SECRET 7" that
will pay out over 65%. I know their exact location, Have the blueprints.....
let me know if you want this inside info.
Jerry from Montana
Hey Boomer, are you from Argentina or Montana?
I am from Dramsdad, Ukraine
Oh, I thought you were from a mental hospital
No way!!!! Did you know Sic Bo is my brother?
Wells Fargo yesterday raised their credit card rates.
Recently, other BANK minimum monthly credit card payments just went up by about 200%, or so (-or- the credit card holders could opt for higher credit card rates, basically the same effect).
What do you THINK is going to happen...?
(It won't be the comeback of the $1.99 buffet, hmmm...now will it, now?)
I'm from Phoenix.
1. I play slots at the Indian reservation casinos all over the outskirts of this town. At least once a month.
2. I would like to go to Vegas - within the next week or so - because I usually get a better chance to win at slots. But if that's not the case...I should take my chances and go to the Indian tribal casinos here in town. 30 minute drive as opposed to a five-hour drive on a two-lane country road that yeah, it's going to be expanded, but that drive and the bottleneck at Hoover Dam is a BIG deterrent. An Interstate between Phoenix and LV should have been built 25 years ago.
3. LV casinos need to expand marketing efforts to Phoenix residents and treat them almost as a "locals" market.
Gangsters and other riff raff from from LA are the only out of towners given local status in Las Vegas.
Phoenix residents need not apply
I think the big box resort operators on the strip will continue having trouble meeting whatever profits goals they had in mind for the place so long as they continue down the path they chose before the big recession.
You know like paid visitors from hollywood such as rap stars, tatoo artists & hollywood queens are only filling the hotels with the occasional whale and a whole bunch of trouble making hangers on who are essentially broke and have no money to spend when they get here
The average visitors who do show up with some real money to spend are simply ignored.
Take it from a local; if you're coming to Vegas to play slots then you want to play at the Cannery. Most of the casinos have tightened the slots up and the payouts aren't good. If you want the biggest bang for your dollar then play no limit poker off the strip at one the casinos the locals play. Off the strip you won't have to deal with card sharks or the sleazy players.
They have also reduced the minimum bets on table games though the house still has advantage.
Revenues are down yet the executives are being paid more money and bonuses and their spending on toys hasn't slowed. If they're so worried about cash then leadership needs to start with themselves first and take a pay cut to an amount of normal people. They don't need any more than a few hundred grand a year without stock options, with freebies from work, use of company jets -- limos -- suites, and all the freebies they suck off the system.
1. Phoenix is too close to Vegas and too big for its market not to be considered local. Only reason why it's not: US 93. The new Hoover Dam Bridge and this proposed "Interstate 11" should help out, but again, 25 years late and it'll take another 25 years to get it built. And they are in the middle of widening US 93.
2. I have heard excellent things about Cannery and want to see the Eastside Cannery on the site of the old Nevada Palace. Hopefully it doesn't reek of cigarette smoke like Nevada Palace did.
3. Last time I was in town (January) I stayed at Suncoast...mixed opinion on the slots there.
it's2hot, what make you think that the locals no limit games are any good? Are you talking about 1-2 nl in the regular locals casinos or do you think of the 2-5 at the red rock?
I have played poker at many locals casinos I went to but can only say that there are way less drunk people or people throwing their money around. I mean, hey, let's talk reality: You can only win at the poker table if people are taking shots, if there is a lot of preflop calling and a lot of bluffing. If most games are head-to-head after the flop or before the flop, then forget it. I think the best 1-2 nl games are still on the Strip. But I am 100 per cent with you about the selection of all other games, such as videopoker or progressive slots, or craps or whatever...
Could it be you invite more players to sit down with the rocks? I played at Sunset Station, Santa Fe, Texas , red rock (awfully tight crew out there!!!!), and other locals' casinos. I can only confirm that the best games there, that's definetely the 100 per cent videopoker show and foodwise spoken, ...the phantastic buffets. I had fun playing poker at the South Point, but it was 4-8 with half kill, and the people were from the local middle-class, regular workers. It was a blast, regardless whether I won or lost that night. It was fun with these people. And the dealers were friendly, too. Compared to that, Hard Rock Casino Poker Room is just like last station before suicide if you're not aiming to get deaf after 8 hours of poker.
Big deal 9%. They all have lower operating cost. They have cut more than 10% of their labor cost. I wish my wages have only dropped 10% compared to August of last year. Everyone knows that if you work in a casino in the tipping industry, your wages are down about 40%.
MicMac99 :
Indian casinos in Scottsdale rock man! I hit the one off Indian Bend, and had a great time! Who needs the greedy Vegas casinos? You also have Fort McDowell out there Stay home, save gas, and take the $
Could it be the casino's big change to more slots and less table games is now holding them back in terms of a recovery? I suspect those who play mostly slots are primarily the type of customer that has stopped going to Vegas due to the economic slowdown. Something tells me the bump in baccarat and the relative steady revenue from table games shows that these types of gamblers continue to go to Vegas. What are the chances of the pendulum swinging towards the table games now? I realize the slots have an advantage in the fact that they are automated with no sick days and no benefits, but could the casinos have oversaturated their gambling floorspace with slots?
In Phoenix three different tribes run the casinos around town, the Scottsdale ones are run by the Salt River-Pima community, I was just there this past weekend but had very little luck. Fort McDowell is a separate tribe; wasn't too impressed the few times I was there...The Gila River locations are pretty good, they are in a rebuilding campaign and their Wild Horse Pass location is opening in a new spot next month (I-10 just south of the Loop 202 south of Chandler and Ahwatukee). There are tribes in Tucson that run a couple of casinos down there as well.
There is also talk that Turf Paradise, the racetrack on the north side of town, might become a racino if the Arizona Legislature allows it, a ballot measure to do that a few years back was voted down.
How about turning the Strip into the nursing home capital of the world? No more slots and table play, only bingo.
the best casinos to win and enjoy yourself are not in vegas; if you look beyond the hype and glitz, the odds are against you. i gambled in a place north of manistee michigan two years ago and had the time of my life; good food, reasonable prices at the bar and entertaining slots and table games. no big wins but enough action to keep me in the game.
Our hometown wants a piece of LA's nightlife and Las Vegas' gaming action. It has succeeded in providing alternative entertainment venues that are as equally enticing and just as thrilling as the larger enterprises being represented. However, efforts to embody some of the loudest, most luminous and ubiquitous party scenes in the Southwest have had to be put on hold in many respects as the economy dictates. There are many nightclubs and restaurants folding in Scottsdale. The W Hotel has been a disaster. Gaming remains surprisingly robust, and once Talking Stick (Casino Arizona II) opens this winter, I know where I'll be playing.
Attn: management at MGM Mirage, Harrahs, etc.
We're tired of being treated like cattle. Gaming is uninviting in Vegas. Payouts are
downright pathetic for the scale of enterprise being maintained in your state. Our slots in AZ are looser than yours, mind explaining that? Someone decided 6/5 BJ was a smart idea? Are you kidding me? There are better games for blackjack players in Tucson, of all places, complete with surrender options. Learn to truly fake a smile, offer comps worth a second glance, feed people the illusion of living carefree and like a rockstar for just a brief moment in time. In other words, even if the consumer knows it's all bs at the end of the day, at least make their experience an experience, not a dissapointing void.
Focus on customer service, on alternative ideas, and on volatility with regard to payouts. Too many players, including pure degenerates, have realized that casino gaming is now not only unbeatable in the long term--as it always has been--but also unbeatable and perhaps unbearable in the short term. In the heydays a player knew he probably wasn't going to hit a massive jackpot every vacation, yet in a few days he'd see severable jackpots exploding all around him. He wanted more than anything to be that next winner. He had visual evidence it was routinely possible, not some far-fetched pipedream. Those days are gone.
I've said it before, and I'll say it again! Vegas Casino bosses should be very carefully reading ALL of the readers comments in this the GAMING section of the online Sun. I have not personally found one positive feedback regarding the current Las Vegas Casinos. These idiots who are controlled by even bigger bottom line idiots must at least have some kind of a clue that the public at large hates what they have done to the once greatest entertainment, gaming capital of the world! I guess all good things must come to an end sometime...
Scotts is on.I remember a quarter million winner on a 5 nickel Betty Boop at Westward Ho.I still talk about it.The stars had lined up,but just not for me, that time.
Take Bacarrat out of the mix.These casinos are in trouble.
Put into perspective, this is not a real 'decline", it is the tail end of a bubble caused by people extracting money out of their home equity. Those days are OVER.
Things are back now to where they were a few years ago before the bubble and will probably stay there until populations increase, or something is changed to make LV more attractive (how about legalizing prostitution and loosening up strip clubs for a starter). Prices are down to previous levels, discounts are abundant, coupons are everywhere.
Why would people come to a stark desert anyway? Not to see the trees, thats for sure. Not to enjoy open freeways and little traffic. Not to mention the heat in summer and cold in winter.
They can gamble in most of their home states now, so its not that.
Whats left? They can feel free to do what they want to do in a place where they are welcomed, feel safe, and arent hassled by overzealous police (like by the NHP in Jean on their way here).
Let the Casinos do their marketing thing which they are good at and develop the services their customers want, without all this regulation that seems to be the 'thing' these days.
Its a waste of time anymore posting whats wrong with the strip.These guys at the top havent listened,and wont!As long as they continue to cash there fat checks,and get there perks,they could care less about the average player!They brought there woes on themselves,and now they can wallow in there crap!BOTTOM LINE IS THIS,THEY DONT CARE,AND HAVENT LISTENED!As i stated before,when people get home,and there freinds ask how was your trip,and there answer is this,WELL,I PAID 200 A NIGHT FOR A SHOWER AND A BED,PAID 30 BUCKS FOR CAFATERIA TYP FOOD,WAS RAPED AT THE SLOTS IN MINS,ROBBED AT THE TABLES IN EVEN LESS THAN MINS,WHOS IS GONNA COME HERE ANYMORE?And i think about a bit,and say to myself,and these fools are still in charge?City Cemetery is "NOT" gonna save vegas!Just another mgm property to compete with another mgm property!LOST AND WASTED!!!
rumrunner : you are contradicting yourself here. You open your comment saying it's a waste of time to post what's wrong with the strip, then spend the rest of your commentary saying what's wrong with the strip! good angle actually, I read it and like the ALL CAPS well done old fellow!
Qouting from the article, "August was an "unfavorable month," Streshley said. The Labor Day holidays, usually good tourist times, fell in September this year." Does not Labor Day always fall in September?
It's not the end of declines. Everybody I met with in Vegas last month was really, truly annoyed to see the odds change for the worse on the games. Word is spreading like wildfire. Harrahs is destroying Vegas and non-Harrahs properties are being painted with the same paintbrush. How did they think nobody would notice or care???? We laughed at the dealer-less tables we saw that looked like a video game. Yeah, that made us want to play! Things so simple, yet so misunderstood. Take the money slowly or not at all....
lightfoot : Right on..
"We cannot solve today's problems with the same level of thinking which created them." - A. Einstein
go downdown to the old vegas - those casinos are pretty cool - only problem is smoke smell - but if you can forget that - I have found that the vegas club has cool machines and plaza is ok too. rooms are cheap - old but ok for a few hours sleep. forget those high price places on the strip - once they took down the best place in vegas The Stardust - everyone went down the tubes!! Stratosphere was ok - not sure now - new owners - will stop by in October to check it out
Union raises go on despite decreased occupancy and revenues and people complain? Whew!
And Las Vegas Sands stocks also rises till the sky. Everybody's speculating that Macau will break another super record soon.....
This article underplays the recent importance of Baccarat. The amount played for baccarat during the month of August was $1.028 billion while the amount played on the rest of the table games (including race and sports) was $1.027 billion. Furthermore revenue from baccarat for the last 12 months has been higher than that of twenty one (blackjack).
This is a historic shift in the importance of the games. Although the rest of the games are steadily dropping for the last 20 months, baccarat stayed high for 9 months (Jan-Oct 2008) before dropping and has been steadily recovering for the last 4 months (May-Aug 2009). I think baccarat players have been loyal because they trust the game more. Many people think that slots were tightened up, and casinos are proliferating the games like 6:5 blackjack.
Baccarat can't keep all these casinos going. The biggest problem with baccarat is that it is too variable. It is way too dependent on the top 100 players. Interestingly baccarat revenue goes down on the most crowded months like October, because the whales don't like crowds.