The city of Las Vegas is in for the good times with the return of the core gambler!
This assertion was made by Michael Lawton, a senior research analyst for the State gaming control board. Mr. Lawton made this assertion based on the winning machine strips which increased by 10.3% across the state of Nevada in the month of February. According to Lawton, this significant increase is attributed to the return of the core gambler.
This is definitely some sweet music to many casino owners as the core gambler is ever casino owner dream, this is because of the fact that the more a gambler stays in a casino, the more they spend money gambling resulting in more profits to the casinos.
Slot the key to casino profits:
Many casinos will not readily admit that slots machines are what rakes in the profits for them. Casinos often prefer to stress that their main sources of revenue are restaurants, conventions, nightclubs, and shows. But, according to Anthony Lucas, a financial gaming analyst based at UNLV, slot machines is what drives many casinos into profitability. According to Lucas, slot machines rake in money five times compared to table games. This is attributed to the fact that slot machines are easier to understand and play, the result is that is draws in more gamblers.
Major attraction to core gamblers:
Slots machines is what attracts the core gamblers, the allure of lucrative slot machines is irresistible, and the spike in revenue indicates that core gamblers are back to doing what they like best. Lucas divides gamblers into two groups: high-rollers and “everyone else”. Lucas categorizes core gamblers to be in the “everyone else” group.
It goes without, saying that in addition to making more money compared to the table games, slots have more market appeal for example, a V.I.P baccarat player can bet with more money but, they are more slots players resulting in more money.
Improvement compared to last year:
According to a report prepared by the Gaming Control board, slots were spur the increases in overall gaming revenue by 3.3% in compared to earnings February, 2011. In down las Vegas, earnings were more impressive slots revenue increase by a whopping 19.9%. Other popular games that registered an increase in profitability are:
• Craps 19.9%
• Roulette 20.2%
• Blackjack 24.2%
The only game that registered a dip in revenue is Baccarat whose revenue declined by 18.9%.
Casinos investing more on slots:
The return of the core gambler has led to many casinos; invest more in a bid to attract this group of gamblers. Arizona Charlie’s casinos want to cash on this trend, and they have launched a promotional campaign whose primary aim is to highlight on the casino games offered as opposed to other major attractions such as food and beverage offered by the casino. The campaign operates under the slogan “Built for the gambler”, the casino is also improving on its customer service department and offering more rewards to people who spend more hours on its slots machines.
Not everyone agrees with this statistics:
The assertion that core gamblers are back to Las Vegas, is not accepted across board. The Las Vegas convention and visitors has a contrary opinion, according to a report they released last week, the report show that the number of visitors to Las Vegas has reduced over the past five years. That aside, the report said that each average gambler spent approximately three hours gambling with an average budget of $448 with a huge percentage of this money used in playing slots.