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IN BUSINESS GAMING STRIP CASINOS' WINNINGS UP 5.1 PERCENT IN DURING 2011 By Cy Ryan staff writer The 37 casinos on the Las Vegas Strip won $6 billion in 2011, an increase of 5.1 percent from the previous year, the state Gaming Control Board reported on Feb. 9. Fueled by the boost on the Strip, where win rose 3.5 percent from slots and 6.5 percent from games and tables, gaming operations statewide won $10.7 billion in 2011, a 2.8 percent increase from 2010. Michael Lawton, senior research analyst for the board, said the figures "show a broader recovery" in the gaming business. Some of the Strip business is starting to overflow into the local markets, he said. To illustrate his point, Lawton said the statewide win this year, excluding baccarat, was up 4.7 percent compared to 3.9 percent in 2010. That figure illustrates a broader market, he said because baccarat tends to attract the high rollers. Although the win increase wasn't in double digits and the state economy continues to struggle amid foreclosures and high unemployment, Lawton said he was optimistic for 2012, hoping for increased visitors and special events. Elsewhere in its report, the board said win statewide averaged an increase of 1.5 percent over a 10-year period, with slot win rising 1.1 percent and table win up 2.2 percent. The report showed Clark County provided $9.2 billion of the state's $10.7 billion gaming win in calendar 2011. Downtown Las Vegas gaming operations registered a win of $496.6 million, only a 0.7 percent increase for the year. Casinos in Mesquite and the balance of Clark County posted strong increases for 2011. Gaming win in the balance of Clark County jumped 12 percent, and it was up 10 percent in Mesquite. Laughlin casinos reported a decrease of 3.7 percent. Clubs on the Boulder Strip had a 2.9 percent increase and North Las Vegas casinos reported a small 0.2 percent increase for the year. The report showed that gaming win in Washoe County, Carson City and South Lake Tahoe was down. Washoe County dropped 3.2 percent, while Carson City was off 1.1 percent and South Lake Tahoe was down 10 percent. The $745.6 million win in Washoe County was the lowest since 1987. And the $209.5 million at South Shore Lake Tahoe was the lowest since 1984 when records started being kept. Casinos in Elko County posted a 3 percent increase for the year. For December, Las Vegas Strip casinos reported a win of $518.4 million, an increase of only 3.6 percent. The showing was due to a slowdown in baccarat, where the win was down 4.5 percent. But slot win grew by 6.4 percent for the month. Also in December: n Sports pool win was up 30.2 percent due to heavy betting on basketball. But football win totaled $2.8 million, down 38.1 percent. n The blackjack win jumped 33.1 percent, while craps win fell by 39 percent and roulette rose 36.8 percent on the Strip. n Win statewide inched up 2 percent totaling $885.6 million. n Win in the downtown Las Vegas casinos fell by 10.7 percent. North Las Vegas casinos suffered an 11.3 percent decline, Laughlin was off 8.2 percent and the Boulder Strip fell 7.3 percent. 2011 WAS SECOND ONLY TO 2007 IN TERMS OF VISITOR VOLUME PREVIEW, FROM PAGE 7 hosted by the Las Vegas Chamber of Commerce were given facts and predictions about the Las Vegas economy, community and culture. "We need to continue to make our city the most exciting city in the world, which we are," said Rossi Ralenkotter, president and CEO of the Las Vegas Convention and Visitors Authority. Ralenkotter said focusing on the convention and airline industries is key. Las Vegas attracted 38.9 million visitors in 2011, the second highest visitor total in history, he said. The peak was in 2007 with 39.2 million visitors. The authority projects the city will set a record this year with 40 million. "We need to invite those guests here," Ralenkotter said. "We're the only city in the United States that has a permanent host committee." The chairman of the committee is former Mayor Oscar Goodman. Usually, cities have a host committee for special events such as the Olympics, but Las Vegas brings in numerous special events, such as the Billboard Music Awards held in May 2011 and the salute to Muhammad Ali's 70th birthday, which was held Feb. 18 at MGM Grand Garden Arena. "We have to put heads in beds," Oscar Goodman said. Ralenkotter continued to emphasize working on building up the Las Vegas brand and convincing foreign airlines that Las Vegas is a destination their customers want to visit. "The international side is where the action is going to be," Ralenkotter said. Action could be seen elsewhere during the event. Though no punches were thrown onstage, the Goodmans did take a few playful jabs at one another. "Forget about the stupid boxers, Carolyn, eat your heart out," Oscar Goodman said as he walked to the lectern with a showgirl on each arm and a martini glass in one hand. Keeping the energy and laughter up was Jeremy Aguero, principal analyst at Applied Analysis, who discussed the concept of reset, rethink, rebuild. Aguero said population, employment and income are showing increases. "I don't think there's anyone sober 642-1040 Personal and Business Taxes. We're the Tax Experts! Doing taxes right the fi rst time! Taxes – Notary Public – Payroll – Bookkeeping 4040 W. Craig Rd. #113 8 www.RMKTax.com who would say we've gotten back to the peak," said Aguero, but added that "even slow growth is so much better than the decline we've witnessed." Aguero provided some levity in his presentation by throwing out humorous statistics. The MUI or Men's Underwear Index is up, said Aguero, adding that men tend to buy less underwear during tough economic times. "You've seen your economy take a body blow," said Richard Florida, senior editor of The Atlantic and author of such works as "The Rise of the Creative Class" and "The Great Reset." Florida gave a talk onstage without a slide show and looked at Las Vegas' future from an outsider's perspective. "I call it the great reset," he said, adding that the change wasn't just in the economy but sociology and our culture. Florida said human creativity will be what propels the economy forward and proposed that Las Vegas work toward making service jobs desirable. "You've really got to work hard and think hard about creating good jobs for your people," Florida said. Portions of the speakers' presentations resonated with attendees like Arlene Gawne, of the nonprofit Spring Mountain Alliance. "It was the ideas that Las Vegas has got this world potential," Gawne said. "I think we lost sight of it when we got the air knocked out of us." Bill Rosado, president of Managed Pay — a family-owned human resources and payroll company — has been attending Preview for about a decade and each year walks away with new ideas to apply to business. "The reality is we've already reset," Rosado said. | 20 FEBRUARY 2012 |