Vegas Gamblers are tightening their belts
In spite of the fact that all the large Sin City hotel casinos are doing their best to attract more Vegas tourists this year with rebates and vouchers, their slot machine business is dropping. And seeing that Sin City slot machine business creates about two thirds of Sin City’s profits, it’s not such great news for the casino hotels.
According to the Gaming Control Board, Las Vegas gamblers wagered $1.1 billion less in slot machines than last year. Slot machines on The Strip are down half a billion dollars. This stands for a drop of 12% compared to 2007. With drivers paying more than $4 per gallon for gas, gamblers are really having to save money nowadays. On the other hand with the cost of gasoline going down, these numbers might change in the near future.
Las Vegas casinos aren’t really worried about this plunge in slot machine revenues, the latest reports show that table game play is actually going up. On The Strip the volume for Vegas table games is up 5 percent, with baccarat play up 15 percent and blackjack on the rise at 7 percent. This might seem like good news but, the truth is that Strip casinos took in 21 percent less in July because of some lucky gamblers as well as gamblers winning a larger percentage than typical.
The famous saying, “The house always wins”, could be a thing of the past. But as these reports tell us, Sin City hotel casinos are are finding it more difficult to make a profit than before. This might be the best time for Vegas gamblers to start cashing in their casino coupons, taking advantage of discounts, and using their frequent flyer miles. With the Sin City hotel casinos having a run of bad luck, this could be the most convenient moment for you to visit some of Vegas’ most popular casinos.
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