Gaming, once the be all end all of casino revenue, now represents just one third of total Las Vegas Strip revenue. As UNLV’s David Schwartz recently wrote : “If the current trend continues, by 2019, rooms will make about as much money as the casino floor, in 2020 they will surpass it, and by 2023, Las Vegas Strip resorts will make about $2 billion more from their rooms than their gambling.” Since non-gaming revenue has become so important on the Las Vegas Strip, the University of Nevada, Las Vegas Center for Gaming Research has been compiling data on revenue outside of the casino since 2004. An informative report they publish each year includes all income from the property as a percentage of total revenue. Research conducted by David Schwartz, the former director of UNLV’s Center for Gaming Research, showed that in 2018, the average Las Vegas visitor spent $434.70 with $285.41 going to nongaming He clams the Majestic will be a first for Las Vegas — but that’s only if you don’t include La Concha Motel. “We’ve never had a non-gaming hotel because gaming was always 60, 70, 80 The Monthly Revenue Report is a summary of revenue information for nonrestricted gaming activity. Each report reflects 1-month, 3-month, and 12-month data. Prior to 2004, only fiscal and calendar year-end reports are available. Resort executives must continually research return on investment for non-gaming amenities, which have become more important to their operations over time, Bob Boughner, former president and CEO of The Las Vegas Strip reported an 11 percent gross gaming revenue (GGR) decline last month. Statewide, casinos won $981.8 million, which is a six percent drop – or $22.2 million – compared to Resorts World Las Vegas expects 75 percent of revenue from non-gaming BY Ad Miral ON December 11, 2019 TAGs: Genting , Las Vegas , resorts world las vegas , Scott Sibella Development surrounding the Las Vegas Strip has tilted toward nongaming revenue for two decades now, a trend that has culminated in the past five years with the construction of free-standing
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