odiousgambit
odiousgambit
Joined: Nov 9, 2009
  • Threads: 300
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December 13th, 2010 at 6:14:03 AM permalink
fwiw, cnbc Video

http://www.cnbc.com/id/15840232/?video=1691211346&play=1
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
pacomartin
pacomartin
Joined: Jan 14, 2010
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  • Posts: 7895
December 13th, 2010 at 9:22:27 AM permalink
The gaming jump in August was actually a little higher than October, but the media seems to have jumped all over this month's numbers.

Strip
21.09% August
16.07% October

State of Nevada
11.51% August
11.02% October

Although there are many statistics that could be reported, the Gaming Commission traditionally reports month over month percentage gained or loss. This stat practically guarantees large fluctuations.

If you look at trailing 12 months from this October vs a year ago the Strip is up 5.68%, Clark County is up 1.75%, and the State of Nevada is up 0.99% reflecting that only the Strip has been doing well in the last year.

Also with a month/month percentage gain there is no verification that the month in 2009 wasn't particularly bad. A large percentage gain can often be an indicator of a particularly awful month the year before rather than any substantive gain.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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December 13th, 2010 at 1:28:42 PM permalink
The reports bring good cheer ... and therefore serve a function. If they spur additional travel to Las Vegas because "things are getting better and the bargains will disappear soon" so be it. The Cosmopolitan opens soon... only good headlines are desired. Local news outlets probably have heard a bit about buttered bread. The local news outlets won't dig too deeply into the figures.
pacomartin
pacomartin
Joined: Jan 14, 2010
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December 14th, 2010 at 5:39:56 PM permalink
Well, I do always wonder if they deliberately don't clarify misleading numbers. The months of February and August were actually pretty good in 2010.
However, October only came up by $69 million in October after dropping by a record breaking $211 million the previous two years.

August actually went back to pre-recession (2007) levels. February nearly reached 2007 levels.

Vegas Strip gaming Revenue
In $mil Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2007 $605 $575 $544 $529 $612 $500 $607 $532 $552 $638 $520 $615
2009 $510 $427 $456 $441 $481 $415 $461 $450 $506 $426 $474 $502
change $(95) $(147) $(88) $(88) $(131) $(85) $(145) $(82) $(46) $(211) $(46) $(113)
2010 $495 $568 $467 $437 $450 $383 $461 $544 $521 $495 $- $-
change $(15) $141 $11 $(4) $(31) $(32) $0 $95 $14 $69

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