Fiscal Year 2001 Overt $72 million
January 7th, 2012 at 11:50:01 PM
permalink
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.
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.
| Las Vegas Strip | Boulder Strip & Henderson | ||
|---|---|---|---|
| MGM Resorts Inc | 24 | BOULDER STATION HOTEL & CASINO | |
| 1 | ARIA RESORT & CASINO | 25 | GREEN VALLEY RANCH STATION CASINO |
| 2 | BELLAGIO | 26 | M RESORT SPA AND CASINO, THE |
| 3 | EXCALIBUR HOTEL AND CASINO | 27 | SAM'S TOWN HOTEL & GAMBLING HALL |
| 4 | MANDALAY BAY RESORT & CASINO | 28 | SUNSET STATION HOTEL & CASINO |
| 5 | MGM GRAND HOTEL/CASINO | Outside City Limits of Las Vegas | |
| 6 | MIRAGE, THE | 29 | ORLEANS HOTEL AND CASINO |
| 7 | MONTE CARLO RESORT & CASINO | 30 | RED ROCK CASINO RESORT SPA |
| 8 | NEW YORK - NEW YORK HOTEL & CASINO | 31 | SOUTH POINT HOTEL AND CASINO |
| 9 | LUXOR HOTEL AND CASINO | Inside City Limits of Las Vegas | |
| Ceasars Inc | -> | PALACE STATION HOTEL (in City of LV) | |
| 10 | CAESARS PALACE | 32 | GOLDEN NUGGET (in City of LV) |
| 11 | BALLY'S LAS VEGAS | 33 | SUNCOAST HOTEL (in City of LV) |
| 12 | FLAMINGO LAS VEGAS/O'SHEAS | 34 | SANTA FE STATION HOTEL (in City of LV) |
| 13 | HARRAH'S CASINO HOTEL LAS VEGAS | Inside City Limits of North Las Vegas | |
| 14 | PARIS LAS VEGAS | 35 | CANNERY HOTEL CASINO |
| 15 | PLANET HOLLYWOOD RESORT & CASINO | Laughlin | |
| 16 | RIO SUITE HOTEL & CASINO | 36 | HARRAH'S CASINO HOTEL LAUGHLIN |
| Other Corporations | 37 | RIVERSIDE RESORT & CASINO | |
| 17 | GOLD COAST HOTEL AND CASINO | Reno | |
| 18 | LAS VEGAS HILTON | 38 | ATLANTIS CASINO RESORT |
| 19 | PALMS CASINO RESORT | 39 | PEPPERMILL HOTEL & CASINO |
| 20 | TREASURE ISLAND | 40 | HARRAH'S CASINO HOTEL RENO |
| 21 | VENETIAN CASINO RESORT | South Shore Lake Tahoe | |
| 22 | WYNN LAS VEGAS | 41 | HARVEYS RESORT HOTEL/CASINO |
| 23 | PALACE STATION HOTEL (in City of LV) | <- |
These are the 9 casinos that fell off the list in the previous two years.
| Formerly gaming revenue > $72M | Year |
|---|---|
| Las Vegas Strip | |
| CIRCUS CIRCUS HOTEL | >$72M in FY08 |
| IMPERIAL PALACE HOTEL | >$72M in FY09 |
| North Las Vegas | |
| TEXAS STATION | >$72M in FY09 |
| American Casino Enterprises /LLC | |
| STRATOSPHERE TOWER | >$72M in FY08 |
| ARIZONA CHARLIE'S DECATUR | >$72M in FY08 |
| AQUARIUS CASINO RESORT | >$72M in FY09 |
| Summerlin - Las Vegas | |
| RAMPART CASINO | >$72M in FY09 |
| Reno | |
| ELDORADO HOTEL | >$72M in FY09 |
| SILVER LEGACY RESORT | >$72M in FY09 |
January 8th, 2012 at 4:00:17 AM
permalink
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
Quote: fremont4everAll right, I'll bite. Put me down for Bally's OR Paris, and the International. Strictly a guess.
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.
January 13th, 2012 at 5:51:36 PM
permalink
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.
(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.
January 13th, 2012 at 8:33:39 PM
permalink
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
Quote: BozNot sure why Harveys makes more than Harrahs in Lake Tahoe. As for Hararhs Reno, it is depressing to visit, like most of Reno.
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"
