VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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IN BUSINESS ANALYST: STEADY SLOT WIN SHOWS CORE GAMBLERS ARE BACK GAMBLER, FROM PAGE 1 and instead stress the importance of conventions, shows, food and nightclubs as revenue producers. In other words, they generally would rather talk about revenue, which is defined as the money they take in, than profits, or the money they keep. But Anthony Lucas, a financial gaming said. analyst at UNLV, said slot machines are what keep the resorts spinning. The devices are five times more profitable than table games, he said, and are easier to understand and play, meaning they draw more gamblers to them. "The casinos make much more of a profit off slots and hotel rooms than they do off food and beverage combined," he The people playing those lucrative slot machines, Lucas gamblers. said, are core "You have the high rollers and then you have everyone else," Lucas said. "I would say the core gambler falls into that everyone-else category." The Gaming Control Board's report showed slot win helped spur a 3.3 percent increase in overall gaming win on the Strip, February 2011. Statewide, before taxes and expenses increased 5.7 percent. In downtown Las Vegas, the clang of the slots rang even louder. Slots zoomed up 19.9 percent along Fremont Street, stoking a 13.6 percent increase in gross win. more Slots weren't the only games producing revenue for casinos, either. FORWARD TOGETHER Before there was music, there was a partnership. "We are particularly gratified that our lending is from a local, community-based bank because this is a facility that was built for the community. It makes for a great collaborative partnership." Richard Johnson Chief Financial Officer The Smith Center for the Performing Arts 702.248.4200 bankofnevada.com/smith-center 03/12 Bank of Nevada is an affiliate of Western Alliance Bancorporation On the Strip, blackjack was up 24.2 percent, craps 19 percent and roulette 20.2 percent. Although baccarat was down 18.9 percent, the increases from other games more than offset that loss. Lawton isn't the only person in the industry gaming to recognize compared with total win that the core gambler is coming back. The owners of Arizona Charlie's are trying to capitalize on the trend in the casino's new promotional will highlight its games as opposed to its food and beverage offerings and other attractions. Monotone-voiced TV personality Ben Stein will narrate the ads. Under the new slogan, "Built for the Gambler," Arizona Charlie's is pushing its customer service and increased reward options for people who spend hours playing mainly at its 1,150 slot machines. "We're basically a box with slots," said Ron Lurie, executive vice president and general manager of Arizona Charlie's. Lurie, a former Las Vegas mayor, said the people who come to Arizona Charlie's will stay three to five hours. They may eat at a restaurant, but the games are their entertainment, drawing primarily local residents and some bus tours. Meanwhile, the Las Vegas Convention and Visitors Authority issued a report offering a counterpoint about the rise of the core gambler. (See related story, Page 7.) The report, which offered a statistical snapshot of Las Vegas visitors, showed tourists' spending for gambling has gradually dropped over the past five years. That said, the report said visitors still gamble an average of three hours a day with a budget of $448, and it doesn't distinguish between games of choice. Clearly, though, a good chunk of that cash is going into slot machines. "Not only do slots make more money than table games for the casinos, they have more mass market appeal," Lucas said. "A VIP baccarat player might play with more money, but there are far fewer of them than there are slots players, who are more typical of the market." campaign, which