Two Way Hard Three | Las Vegas Casino & Design Blog
April 9, 2009
Gaming Numbers Published
Posted by HunterWe will touch on this on the next Vegas Gang show but I wanted to post this for comments.
As is typical, the gaming figures have been released. They are of course, down.
Dr. Dave thinks the RJ is downplaying the bad news.
In related news, word comes that the Gaming Control Board is forming an internal crisis team to deal with bankrupt casinos.
Harrah's was able to pull off a debt swap that looks to have improved their position a bit.
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- Las Vegas USA recently commented "Nobody is safe in this recession. The casino heads should get together and ..." in Gaming Numbers Published
- Chris recently commented "I think the more appropriate question to ask would be: How many tourists w..." in Gaming Numbers Published
- detroit1051 recently commented "Based on the Nevada Gaming Cotnrol Board's report for February, the overall..." in Gaming Numbers Published
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Comments
Based on the Nevada Gaming Cotnrol Board's report for February, the overall slot payback percentage on the Strip was 92.79%. That low payback must affect visitation. In Broward County, Florida, slots were approved at four racetrracks. Three are currently operating. Current overall payback at Isle of Capri's Pompano Park is posted at 92.38%, slightly lower than on the Strip, even though Florida's gaming tax rate is an unbelievable 50%. Nevada's is 6.75%.
As the Strip reduces any advantage it has for players, how many tourists will opt to play at regional casinos in their own areas?
Here's the detailed NV report:
http://gaming.nv.gov/documents/pdf/1g_09feb.pdf
I think the more appropriate question to ask would be:
How many tourists will opt to play at a racetrack in suburban Florida instead of taking a weekend getaway to Vegas, due to a 0.41% smaller loss in long-term slot play?
Nobody is safe in this recession. The casino heads should get together and make something happen as a team.