Las Vegas annual figures: record sales, but not thanks to casinos

Las Vegas annual figures: record sales, but not thanks to casinos

The profit figures of the hotel casinos in Las Vegas for the fiscal fiscal year 2015 have been received. They are announced each year by the Gaming Control Board of Nevada.

The mega gambling palaces on the Las Vegas Strip lost in the fiscal year 2015 (which ended on June 30) together no less than $ 923.3 million.

The gambling multinationals still think that is good news. In 2014, the loss of all casinos on the Strip combined was $ 943.6 million.

The figures for 2015 are therefore 2.2 percent less red. Cautious reason to cheer.

Even more good news: the total turnover of the casino complexes on Las Vegas Boulevard in 2015 is around $ 16.7 billion, an all-time record. This turnover includes all income from not only gambling, but also hotels, restaurants, night clubs and other attractions.

And yet that news also includes bad news. Only 34.9 percent of revenue, $ 5.8 billion, was achieved through gambling.

Restaurants full, casinos empty?

That gambling as a source of income is becoming less and less important for Las Vegas fits in with a long-standing trend. Since 1998, less than 50 percent of the total revenue has come to the Strip from gaming tables and slots. And that percentage drops every year.

Surveys from the Las Vegas Convention and Visitors Authority show that now only 1 in 8 visitors comes to Las Vegas in the first place to gamble.

Gambling expert David Schwartz from the University of Nevada Las Vegas tells the local newspaper that the economy of the gambling city is changing forever.

"It's a sign of the changing market. Food is growing and gaming as a percentage is shrinking. What I'm hearing from people is they spend more on food and entertainment than gambling. This is what the visitors seem to want. "

Las Vegas is therefore increasingly turning into a "normal" tourist destination, such as Paris or New York.

Las Vegas can therefore be happy that it has more to offer tourists than just gambling. That other American casino city, Atlantic City, offers gambling entertainment almost exclusively. And that is disastrous in 2016.

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