I’ve been doing too much research this year. Every now and then something appears that makes me curious about the differences between the TravelZork community and the typical Las Vegas visitor. The two are not the same.
Las Vegas casino revenue has less to do with gaming than ever – especially on the Vegas Strip. This is shocking to some and old news to others.
You might have seen this article before. I reference this item from Business Insider in 2013 often to showcase this information – Las Vegas Hasn’t Been About Gambling Since 1999.
The gap between gambling revenue and non-gaming continues to grow on the Vegas Strip. This is the revenue breakdown at Vegas Strip casinos last year according to the annual Nevada Gaming Abstract:
- Hotel rooms: 33%
- Food: 17.8%
- Beverage: 7.9%
- Other: 14.6%
Vegas Strip gaming revenue was only 26.6% of the overall mix last year.
There are a variety of reasons for the revenue splits. Fine dining, overpriced lounges, bars, clubs, and poor mass-market gaming rules and odds are a good start. That’s a story for another day.
Not all casino markets in Las Vegas or elsewhere in the country have some drastic splits. For example, last year the gaming/non-gaming revenue split for downtown Las Vegas casinos was closer to 50/50.
The Nevada Gaming Control Board report shows that revenue trends at non-Vegas Strip casinos are closing in on the drastic splits.
Following Trends
Las Vegas casino revenue fascinates me because it’s a real representation of where the masses spend their hard-earned money. Money speaks louder than people discussing an opinion.
Businesses tend to change offerings based on profitability more than online chatter. #NachoGate at Fontainebleau might be one recent example of online outrage sparking change.
I’ve been a gambler most of my life. I gamble less now than I have ever.
Many of my friends who visit are the same. We spend more time and money on great meals and delicious drinks and less time gambling.
Part of the reason is changing interests and what’s valuable to our relationships. Sometimes we’ll catch up while gambling, other times we’ll just hang out, and most of the time we’ll do a little of both.
The way we spend vacation time in Las Vegas has been trending the same way as the masses even though we all like to gamble. The above splits are just for the Vegas Strip but it’s similar regardless of location for my friends and me.
Gambling is still part of the mix but great meals and fun hangs are more important than they were when we turned 21.
Let’s circle back to the beginning. As I mentioned before, this is a different community than the mass market.
For starters, many of you receive complimentary or discounted hotel rooms. This leaves money to be spent elsewhere.
How and where do you spend your time and money when visiting Las Vegas?
Drop a comment below or wherever you read this.
