Dynamics Help Gambling Market Flourish

06.08.2003, Lesen Sie hier den Bericht über «Dynamics Help Gambling Market Flourish».

One of the reasons competition for the locals gambling customer is so strong is that Las Vegas locals love to gamble. To meet that demand, locals casino operators have created the gaming industry's most efficient mechanism for separating patrons from their gambling dollars. Station Casinos and Coast Casinos executives won't say how many Las Vegans are in their customer databases, but the numbers that are available don't lie. Las Vegans gamble a lot, with 69 percent of county residents admitting it in a 2001-02 Las Vegas Convention and Visitors Authority survey, And 43 percent of those gamble at least once per week, with 39 percent budgeting $50 or more per visit. Most of that gambling budget ends up in the coffers of locals casino operators, as the survey reported that 84 percent of resident gamblers prefer off-Strip locations. In the 12-month period ended May 31, gamblers lost $667.4 million to Boulder Strip casinos, $211.9 million to North Las Vegas casinos and $777.1 million to the nebulous state "balance of Clark County" market that includes locals dynamo Suncoast but also includes far-flung properties in Primm and Jean. Since January 2000, there have been a number of significant developments in the locals casino industry, most of which presumably added to the total locals lost at the slots, tables or sports book.

Among the most significant were: 1. Enforcement of Senate Bill 208 to scotch casino projects in Spring Valley and North Las Vegas. The 6-year-old law puts the burden on developers to prove that a neighborhood casino won't adversely affect the quality of life of nearby neighbors, and, in effect, limits the number of sites available for local casino development.

2. Ticket-in, ticket-out coinless slots. The devices cost hundreds of coin handlers their jobs, but saves millions in labor costs. Casinos initially feared customers would reject the ticket-dispensing and accepting machines, preferring the sound and feel of real coins. But customers overwhelmingly prefer the ease, cleanliness and time-savings of ticket payouts, operators agree.

3. opening the $200 million Suncoast in 2000. The next-to-Summerlin property proves the power of placing a megalocals casino smack-dab in the middle of the suburbs.

4. Sam's Town expansion in 2000-01.

5. Regent Las Vegas, Vacation Village and Castaways file for bankruptcy protection.

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