Vegas Slot Players are hit hard by rising gas prices
Thursday, October 2nd, 2008
Although all the big casinos are doing all they can to draw more Las Vegas, Nevada visitors this year with discounts and vouchers, their slot machine business is slumping. And while Vegas slot machine business makes up about two thirds of Las Vegas’ income, it’s not such good news for the Sin City casinos.
According to the Gaming Control Board, bettors are betting $1.1 billion less in slot machines than last year. Slot machines on The Strip are down half a billion dollars. This represents a drop of 12% in comparison to 2007. With drivers shelling out more than $4 per gallon for gas, gamblers are really having to count their pennies nowadays. Although with the price of gas on the decline, these figures could change in the coming months.
Vegas casinos aren’t really bothered about this drop in slot machine revenues, the latest reports show that table game play is actually on the rise. On The Strip the volume for Sin City table games is up 5 percent, with baccarat play up 15 percent and blackjack on the rise at 7 percent. Even though this may seem like a good thing, the truth is that Vegas hotel casinos took in 21 percent less in July as a result of some lucky Las Vegas gamblers as well as bettors taking home a larger percentage than typical.
The famous saying, “The house always wins”, might have been the norm in the past. But as these reports tell us, Sin City hotel casinos are having a harder time making a profit than before. This might be the best time for Sin City gamblers to start redeeming their Sin City coupons, taking advantage of rebates, and using their frequent flyer miles. With the Las Vegas hotel casinos having a run of bad luck, this might be the most convenient occasion for you to visit Las Vegas and it’s casinos.