Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-24-2012, 12:11 AM
 
3,598 posts, read 4,947,399 times
Reputation: 3169
Is Vegas Signaling The Consumer Is Folding? | ZeroHedge
Reply With Quote Quick reply to this message

 
Old 07-24-2012, 11:27 AM
 
Location: Las Vegas
14,229 posts, read 30,022,670 times
Reputation: 27688
Interesting article. I was surprised the first quarter of every year is so high. They attributed the spike to CES. Is that true? I would have guessed 1st quarter would have the highest numbers because of the dismal weather in most of the rest of the country and it's the most pleasant time of the year to drive over from Cali. Tax refunds might help too.

Hard to imagine one convention does that much for us.

My gambling friends fit the profile in the article. The used to come to Vegas to gamble but today when they come, it's usually to see a show and the $30 they throw in a slot machine is just incidental. Maybe part of it is generational. The boomers are hitting retirement age and being more careful with their money. The economy has been so bad for so long that pretty much everyone has been affected.
Reply With Quote Quick reply to this message
 
Old 07-24-2012, 05:04 PM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,807,561 times
Reputation: 925
Here is another thing to ponder. With the growth of Mac Casinos through out the USA many people are trying out Las Vegas for the first or second time. They a careful about gambling because many of the casinos are so large compared to where they usually play. The people playing in most casinos are seasoned and these people are not dumping $$$ so fast. The casinos in LV offer much more bang for the $$$ especially for food and entertainment so that tends to attract these folks to try that out first. So more experienced gamblers show up early in the year and especially this year because of the length of the Chinese New Year. When I say first time gamblers I am including the foreign visitors who are providing a driving force of visitors in LV.
Reply With Quote Quick reply to this message
 
Old 07-24-2012, 10:38 PM
 
6,385 posts, read 11,878,943 times
Reputation: 6864
These analysts dont seem to get how important China/Hong Kong is to the LV Strip market. Gaming revenues stripping out table games has been very much in line with the US economy lately. The table games piece which is heavily driven by how much foreign high rollers play and how lucky or unlucky they are is extremely volatile. That being said there is a clear plateau and possibly a slow drop in what is believed to be Chinese gaming play. That is no way a reflection of the "consumer".
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 06:53 AM
 
727 posts, read 1,056,596 times
Reputation: 703
Quote:
Originally Posted by Willy702 View Post
These analysts dont seem to get how important China/Hong Kong is to the LV Strip market. Gaming revenues stripping out table games has been very much in line with the US economy lately. The table games piece which is heavily driven by how much foreign high rollers play and how lucky or unlucky they are is extremely volatile. That being said there is a clear plateau and possibly a slow drop in what is believed to be Chinese gaming play. That is no way a reflection of the "consumer".
If China/Hong Kong is very important to the Strip isn't that a long term problem because many of those gamblers now go to Macau?
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 08:30 AM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,807,561 times
Reputation: 925
I believe in China you have to apply for permission to go to the Macau only a certain amount of people are allowed. Keep in mind many of the ones who come here are high rollers same for the other far east countries Why do you think the casinos move heaven and earth for them example not being able to walk into the lions mouth entrance to the MGM (it is considered bad luck) to do so in the far east culture so the entrance was closed and moved. Please keep in mind many of these people have grown kids so now it is time for the parents to go play and LV is the Adult Disneyland in the USA. Please keep in mind many countries do not offer what we have here example playing golf in Japan it cost over $10,000to play there are only a few golf courses in the country so taking a trip to LV playing golf gambling cheap food and entertainment is less that one round of golf. Think what kind of vacation in LV you could have for $10,000 lol. SO!!! treat them good they are the bread and butter right no for LV.
Reply With Quote Quick reply to this message
 
Old 07-25-2012, 10:51 PM
 
6,385 posts, read 11,878,943 times
Reputation: 6864
Quote:
Originally Posted by newopty View Post
If China/Hong Kong is very important to the Strip isn't that a long term problem because many of those gamblers now go to Macau?
No, the numbers have been increasing despite Macau and Singapore. The Chinese economy is weakening pretty quickly and its effect is being seen in casinos around the world. London's casinos are struggling recently despite having an incredible calendar of positive events this year. People outside the industry just don't grasp how important the Chinese gambler is to the industry.
Reply With Quote Quick reply to this message
 
Old 07-26-2012, 07:05 AM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,807,561 times
Reputation: 925
It would be interesting to see what the ratio of spending is between a foreign tourist vs a USA tourist. I wonder how many USA tourist it takes to equal one Foreign tourist in $$$ spent in LV. I hope LV does not decrease it's comps especially to locals I know it was tried before and it flopped. Please keep in mind LV casinos are a much more attractive deal vs the Mac Casinos around the country. Now how to get the airfare down or deals on that and LV will fly high with it.
Reply With Quote Quick reply to this message
 
Old 07-26-2012, 05:19 PM
 
6,385 posts, read 11,878,943 times
Reputation: 6864
Quote:
Originally Posted by irishspy View Post
It would be interesting to see what the ratio of spending is between a foreign tourist vs a USA tourist. I wonder how many USA tourist it takes to equal one Foreign tourist in $$$ spent in LV. I hope LV does not decrease it's comps especially to locals I know it was tried before and it flopped. Please keep in mind LV casinos are a much more attractive deal vs the Mac Casinos around the country. Now how to get the airfare down or deals on that and LV will fly high with it.
International tourists in Las Vegas outspend domestic travelers, analyst says - VEGAS INC
Reply With Quote Quick reply to this message
 
Old 07-27-2012, 06:38 AM
 
Location: North Las Vegas
1,631 posts, read 3,950,578 times
Reputation: 768
One thing this article doesn't address is that the tourists are coming in on the cheap. You will see tourists bringing coolers with their own snacks and booze with them to places like the Bellagio or the Venetian.
You never saw that in casino properties of that caliber before only in hotels like super 8's. Also if you were to ask most tourist regarding how much they paid for their rooms most of them would tell you that they found deals on line or the casino reached out to them via internet offering great nightly prices. And/or whole pkgs that include shows and dining at amazing prices.

Most of the US tourists that come to Vegas are still coming from California. Due to the US struggling economy the strip still reels from it's affects on tourism and if it weren't for the casino's revenues from Macau this place would be up creek without a paddle.
The strip is constantly reinventing itself to keep the visit fresh every time someone visits and the latest new venue's are the large sky wheel and the Linq that are currently being built. New cirque shows that will be opening and some large shows going away due to not enough tickets selling like Phantom of the opera, the Elvis cirque in Aria just to name a few.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top