The explosive growth of gambling markets in Macau and Singapore has prompted a question in Las Vegas as the Chinese New Year celebration gets under way. Why would an Asian high roller travel to the Strip to celebrate the lunar new year rather than visit the ultra-chic gambling salons of Asia’s gaming giants?
Nevada-based slot machine maker International Game Technology has reached an agreement to purchase Double Down Interactive, gaining the infrastructure to potentially offer online wagering for money.
MGM Resorts International has signed an agreement to purchase a 150-acre parcel of land 65 miles west of Boston in Brimfield, Mass., to develop a “world-class resort” that would create 3,000 permanent jobs and several thousand indirect jobs, according to a statement released Thursday by the Las Vegas-based hotel-casino operator.
Money won from gamblers comprised a record low share of the Nevada casino industry’s total revenue generated during the past fiscal year. But spending on food, beverages and related offerings produced an all-time high share of the overall revenue picture, according to figures released Friday by the Nevada Gaming Control Board. The board's numbers support a much-stated contention in recent months: The state’s gaming industry is recovering from the depths of the recession but has yet to fully rebound.
This has all the makings of a potentially tumultuous year for the gaming industry. Union contracts expire for tens of thousands of Las Vegas casino industry workers this year, and if each side frames its position by the continuing recession, the negotiations may well be tense and drawn out.
The west wing of the Bellagio’s main tower had intermittent power outages throughout the afternoon and early evening Saturday, leading to the New Year’s Eve day closure of the buffet and the loss of power to several hundred hotel rooms.
Southern Nevada is bouncing back from the recession and could receive an added push as the national economy continues to gain strength, according to a series of monthly indices released today by UNLV’s Center for Business and Economic Research, or CBER.
For all the highbrow strategies to get more kids to graduate from high school, Clark County School District Deputy Superintendent of Instruction Pedro Martinez thinks the Clark County School District is learning what really works.
The upcoming removal of the MGM Grand's free lion exhibit is an example of a financial dilemma faced by resort executives: whether to devote space that could be generating revenue through gaming, restaurants or other means to attractions that don't produce a penny directly but might help draw customers.
If Las Vegas casino bosses could pick the perfect day for New Year’s, it wouldn’t be a Saturday. A Thursday would fit the bill, laying the foundation for a four-day party weekend. A Monday would be almost as good, with a long weekend run-up the festivities. To be sure, no one’s complaining about this year’s turn of the calendar, as a record 314,000 visitors are expected New Year’s weekend to spend $192.6 million on non-gaming items.
