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Fiscal Year 2001 Overt $72 million
| January 7th, 2012 at 11:50:01 PM permalink | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6187 | Every January the Nevada Gaming Control Board releases their annual report about the previous fiscal year (ends June 30). Unlike every other state, it is illegal in Nevada for the government to report earnings on individual casinos. Instead they group together casinos with similar characteristics. Unfortunately they release enough data in their reports so that I am able to figure out some information that they are prohibited from revealing. For instance, the highest earning category of casinos are ones that make over $72 million per year. After fiscal year 2008 and 2009 a total of 9 casinos were dropped off the list. For fiscal year 2011 another 4 casinos were dropped off the list and Cosmopolitan was added. I can't figure out which four until next week when the NGC publishes their database of square footages. I will let people guess. Here is a repeat of the names of the 41 casinos on the list for fiscal year 2010. Guess which ones did not make $72 million in gaming revenue for fiscal year 2011! Two and only two of the 4 names is on the Vegas strip.
These are the 9 casinos that fell off the list in the previous two years.
Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| January 8th, 2012 at 4:00:17 AM permalink | |
| fremont4ever Member since: Nov 24, 2009 Threads: 5 Posts: 118 | All right, I'll bite. Put me down for Bally's OR Paris, and the International. Strictly a guess. |
| January 8th, 2012 at 7:09:57 AM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6187 |
I agree with you on "Las Vegas Hilton", LVH, or "The International" (whatever it's called) is almost certainly one. In 1999 when the strip casinos switched to higher revenue from non-gaming sources than from gaming it made headlines around the world. The strip is up to 63% non-gaming revenue now. So I would say the other one is Monte Carlo. There is a possibility that Cosmopolitan didn't reach $72 million. But that seems unlikely as it is very popular. It can't be earning all of its money from food and rooms. If you think about it, $72 million /year is not that much money. Many casinos in PA earn more than $100K per slot machine in a year, so to get to $72 million you need less than 720 slot machines. It's also hard to guess which ones fell off the list outside of the strip. I am going with Santa Fe Station and Boulder Station as my first guess. These are two of the oldest ones. I think the four casinos in northern Nevada are still in the running. Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| January 13th, 2012 at 5:51:36 PM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6187 | They just published the square footages so we know what the casinos that did not make $72 million in gaming income for fiscal year 2011 (July 1 2010-Jun 30 2011) (1) Cosmopolitan didn't make it (possibly because it wasn't open the entire fiscal year). But gaming revenue is very low there (2) Las Vegas Hilton as expected did not make the cut (3) Cannery Casino in North Las Vegas (4) Harrah's in Reno. There are now only 3 casino in Northern Nevada that make over $72 million a year in gaming. PEPPERMILL HOTEL & CASINO ATLANTIS CASINO RESORT HARVEYS RESORT HOTEL/CASINO There remain only 2 in Laughlin RIVERSIDE RESORT & CASINO HARRAH'S CASINO HOTEL LAUGHLIN And 11 casinos considered off-strip GOLDEN NUGGET SUNCOAST HOTEL AND CASINO SANTA FE STATION HOTEL & CASINO BOULDER STATION HOTEL & CASINO GREEN VALLEY RANCH STATION CASINO SAM'S TOWN HOTEL & GAMBLING HALL SUNSET STATION HOTEL & CASINO M RESORT SPA AND CASINO, THE ORLEANS HOTEL AND CASINO RED ROCK CASINO RESORT SPA SOUTH POINT HOTEL AND CASINO The Palace Casino still makes over $72 million, but the NGC groups it as a strip casino, while the Orleans is considered off-strip. The major strip casinos that made a minimum of $72 million in gaming apiece, only lost an average of $74m during FY2011, vs. an average of $112m in FY2010. Average revenues for the top 22 casinos on the strip $105m pit games $109m slots $8m poker $222.7m total gaming $360m total non-gaming The spread between non-gaming and gaming gets bigger every year since 1999 when non-gaming passed gaming for the first time. Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| January 13th, 2012 at 8:33:39 PM permalink | |
| Boz Member since: Sep 22, 2011 Threads: 11 Posts: 143 | Not sure why Harveys makes more than Harrahs in Lake Tahoe. As for Hararhs Reno, it is depressing to visit, like most of Reno. |
| January 14th, 2012 at 8:43:13 AM permalink | |
| pacomartin Member since: Jan 14, 2010 Threads: 544 Posts: 6187 |
Harveys and Harrahs in Lake Tahoe are now combined under a single license. So are Wynn and Encore, Mandalay Bay & THE Hotel, Circus Circus and Slots of Fun, and until recently Bally's and Paris. If the casinos are connected in some way, and they are owned by the same company, they can be run under a single license. The fact that Ceasars Inc. managed to keep Harrah's Reno, and Imperial Palace in the "over $72 million category" as long as they did, is a real testament to the lure of their Reward's program. As of the end of FY2011, Harrah's Laughlin and Harrah's Vegas were still "over $72 million" Wine loved I deeply, dice dearly -Edgar, betrayed son of Gloucester in King Lear |
| Bovada is the only Internet casino endorsed by the Wizard. Here are my reasons why and my promise of support. |