Tuesday, June 28, 2011

WORLD CASINO GAMING REVENUE COMPARISON

Singapore's Marina Bay Sands Casino and Hotel



This website is powered by Google Blogger, and one the most interesting features of Blogger is its tally of the search terms used in finding my International Appraiser blog. My blog on Macau has been attracting those who are searching for statistics on which are the top world gaming destinations by revenue. This particular blog will try to answer that question.

Here is my attempted ranking of world gaming destinations by year 2010 revenues:

1. Macau. $23.543 billion, up 58% from 2009, now exceeding $3 billion/month.
2. Las Vegas/Clark County, Nevada. $7.72 billion (entire county), down 20% since 2006.
3. Singapore. $5.1 billion, first year.
4. Atlantic City. $3.565 billion, down 32% since 2006.
5. Southeastern Connecticut (including Foxwoods, largest U.S. casino). $1.385 billion, up 12% from 2009.
6. Biloxi, Mississippi. $1.106 billion, down 15% since 2007.

This list focuses on singular destinations with an agglomeration of casinos in close proximity rather than countries or states where casinos are geographically dispersed such as France, Pennsylvania, Indiana or the Dominican Republic.

The one trend that is obvious from this list is the explosive increase in gaming in Asia and the decline in gaming in the leading U.S. destinations.

The U.S. gaming market has become increasingly fragmented, with Indian casinos in California and Nevada taking customers away from Nevada’s traditional gaming destinations of Las Vegas, Reno and Laughlin, and Pennsylvania and New York taking customers away from Atlantic City. There are now 19 U.S. states that allow casino gambling, and increasing state budget pressures may tempt more to legalize casino gambling in order to augment revenue.

One important difference in making comparisons between Las Vegas and Asia is that Las Vegas earns more from lodging, food and beverages than from gaming revenues, as most visitors to Las Vegas need to stay overnight because of its distance and isolation from the places the visitors come from; long haul visitors stay longer than short haul visitors, and Las Vegas attracts more long haul visitors. For instance, although the Las Vegas Strip earned $5.167 billion in gaming revenues last year, it also earned $3.106 billion in lodging revenues and $2.923 billion in food and beverage revenues. On the other hand, many visitors to Macau and Atlantic City are on day trips from Hong Kong or Guandong Province (in the case of Macau) and New York or Philadelphia (in the case of Atlantic City).

2017 update:
http://www.internationalappraiser.com/2017/05/macau-vs-las-vegas-gaming-revenues.html
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