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ToggleWhat is the daily revenue of Las Vegas casinos?
This article will answer this question.
Casinos in the US have a long-term statistical advantage due to calculated algorithms, resulting in a “house edge” on popular games.
In addition, casinos generate substantial non-gaming revenue from various sources such as food and beverage sales, entertainment venues, spa services, accommodations, parking fees, and other ancillary services, all of which contribute significantly to their overall profits.
How Much Does A Casino Make A Day?
Prior to the pandemic, major corporations operating Las Vegas casinos generated annual revenues between $4-13 billion, while smaller casino owners brought in a few hundred million dollars per year.
- In fiscal 2017, the average daily revenue of a single casino in the Las Vegas Strip area was $1.8 million, with $634.5 thousand coming from gaming bets.
- In 2018, the average casino had daily earnings of $1.9 million, with revenue breakdowns as follows: $662K from gaming wins, $531K from room rentals, $302K from food sales, $143K from beverage sales, and $297K from other services.
- A total revenue of $22 billion from 169 large casinos in Las Vegas was analyzed in the 2019 fiscal year, with an average daily gain of $356K.
When comparing casino earnings, it’s important to consider factors such as the casino’s location, seasonality, holidays, and day of the week, as they can greatly impact profits.
The pandemic impacted profit inflow, causing leading providers to experience billions of dollars in operating losses and a 100% revenue decline in 2020. Nevada’s gaming industry revenue decreased to $18.3 billion in the 2020 fiscal year, a 25.2% drop from the previous year. Casinos on the Las Vegas Strip, especially those that accept Visa, were hit the hardest due to their heavy reliance on tourism.
Regarding general trends, it is important to mention a few key indicators.
- In 2020, the Las Vegas Strip saw a total revenue of $13.6B, with nearly $5B from gaming. In 2019, revenue was $18.5B, with $6.5B from gaming. Downtown Las Vegas establishments made $1B in total revenue last year, half of which came from gaming. In 2019, revenue there was $1.3B, with $664 million from gaming.
- The “Average Big Strip Casino” made $12.9 billion in total revenue in 2020, with $4.5 billion coming from gaming. In 2019, they reported $17.5 billion in total earnings and $6 billion in gaming revenues. On average, the casino made $35 million per day in 2020, with $12 million from gaming. In 2019, the daily revenue was $48 million, with $16.5 million from gaming.
What about now?
In March and April 2021, Nevada’s casinos collected over $1 billion in gambling revenue. This represents an 11% increase from April 2019, indicating healthy growth despite the pandemic. Factors such as mass vaccination, stimulus checks, and eased restrictions have encouraged Americans to travel and spend money. However, the number of visitors to Las Vegas is still 27% lower than in April 2019, leaving room for further growth.
While there have been positive trends in 2021, some key factors driving casino revenues are still lacking.
From November 2020 to April 2021, the total money won by casinos out of table drop was 8.47% for Nevada and -11.03% for the Las Vegas Strip. Statewide, the total win was $5 billion, with the Las Vegas Strip winning $2.3 billion and Downtown Las Vegas winning $377 million. The Las Vegas Strip’s average monthly win was $382 million, around $12.7 million daily. Downtown Las Vegas had a monthly win of $62.8 million and $2 million daily.
Caesars Entertainment, Inc, the company behind several well-known hotels and casinos in the city, reported net revenues of $1.7 billion for the first quarter ending March 31, 2021. This represents an increase of 259.2% on a GAAP basis and a decrease of 16.0% on a same-store basis compared to the same period last year. The Las Vegas segment experienced a more significant decline, with same store revenues decreasing by 39.5% and adjusted EBITDA declining by 26.7% in the first quarter.
In Q1 2021, MGM Resorts International reported its best quarterly operating results in Las Vegas since reopening. Consolidated net revenues were $1.6 billion, down 27% from the prior year quarter. Las Vegas Strip resorts generated $545 million in net revenues, a 52% decrease from the prior year quarter due to pandemic-related restrictions and property closures. Casino revenue only dropped 16% compared to the prior year quarter, with table games win at $127 million and slots win at $212 million, indicating a limited impact from social distancing measures. The total daily profits from table games and slots in Las Vegas MGM-owned casinos were $3.7 million.
In addition to the popular casino in Las Vegas, BetMGM is known as one of the top sportsbooks in America, offering a variety of online sports betting options, including parlay betting.
Parlays and their various forms have gained popularity in the United States due to the significant potential payouts they offer.
BetMGM is known for offering a range of parlay betting options, such as Same Game Parlays, Parlay Insurance, and Same Game Parlay Plus, making it a popular choice for American bettors.
Wynn Resorts reported $725.8 million in operating revenues for the first quarter of 2021. Operating revenues from corporate Las Vegas operations decreased by 44.8% from the first quarter of 2020 to $178.7 million. Adjusted Property EBITDA from the same operations for the first quarter of 2021 was $28.1 million.
Las Vegas Sands, owner of the Venetian and the Palazzo, reported a 15.6% decrease in net revenue to $1.20 billion. Operating loss was $96 million, a significant drop from the prior year quarter’s operating income of $6 million. The net loss from continuing operations in the first quarter of 2021 was $280 million, compared to $92 million in the same period last year. Casino revenues were down to $865 million from $1 billion in the previous year. Revenue from room rentals was $96 million, and food and beverage service brought in $56 million. All figures showed a decrease compared to the first quarter of 2020.
In operating Las Vegas properties, table games wins per unit were $1.9 billion and slot machines brought in $380 million per day. In the same period last year, table games wins were $5.5 billion and slot machines brought in $321 million. Despite a slight increase in slot machine profits, the casinos faced significant losses due to restrictions on table games. As a result, the company decided to sell its Las Vegas real estate property and operations for approximately $6.25 billion. The transaction is expected to close in the fourth quarter of 2021.
In the first quarter of 2021, Red Rock Resorts reported net revenues of $352.6 million, a decrease of 6.6% from the same period in 2020. Net revenue from Las Vegas operations was $342.8 million, down 3.8% from the previous year. Compared to 2019, net revenue was down 18.8%. To offset operational losses, the company chose to sell the Palms Casinos Resort for $650 million in cash.
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How Much Does A Casino Make A Day in Las Vegas? (Money)
How Much Does A Casino Make A Day in Las Vegas? (Money).