Can Las Vegas Casinos Rely on Non-Gambling Revenue?
Las Vegas is the embodiment of gambling, but with the recent economic slump, local casinos are increasingly relying on non-gambling revenue.
Las Vegas business owners are unanimous behind the view that both gambling and non-gambling casino revenue are equally important when generating a sustainable income strategy. Over the recent years, we’ve witnessed a growing number of local properties putting added emphasis on off-the-floor areas of their casinos. So, does the future of casinos depend on non-gambling activities? Let’s find out below.
Can Non-Gaming Revenue Generate a Return on Investment?
Las Vegas is no longer a stranger to a wide selection of amenities specifically aimed at holidaymakers who don’t gamble. Instead of concentrating exclusively on the bottom-line return on investment stemming from the hospitality industry, a growing number of local business owners are focusing on brand equity and the positive effects this can bring to their establishments.
When Seneca Gaming Corporation hosted a KISS concert, the revenue for the day didn’t solely come from the casino. The sheer number of patrons that visited the resort resulted in a PR win for the business. Seneca has ensured that all the brands it works with are aligned with its customer needs and its business goals, resulting in both financial success and added marquee value generated from events.
It’s pivotal for gaming industry businesses to stand out these days. This is especially true as the industry reaches new heights of popularity outside Las Vegas and other gambling meccas. People are beginning to note how the Vegas market is changing from exclusively gambling-oriented to an overall entertainment destination. Brands that recognise this shift and offer middle-of-the-road activities are likely to be the frontrunners in attracting new, non-gaming revenue.
Las Vegas Non-Gaming Activities
If you’re organising a trip to Las Vegas soon and wish to know what you could do that doesn’t involve gambling, you have more options than ever. Sin City has some exceptional restaurants, including buffets, where you can get an excellent meal for a sensible price. The Paris Hotel is renowned for its buffet, and many vacationers enjoy making a pitstop here. You can also visit Caesars Palace and the Wynn Hotel for some mouth-watering food.
Essentially, every hotel on the Strip has breakfast, lunch, and dinner buffets, so even picky eaters are guaranteed to find something they like. If you’re into fine dining, try Tom Colicchio’s restaurant located at the MGM. Nobu at Caesars Palace is also a great choice, while Bobby Flay’s Mesa Grill has tasty food served amidst a semi-casual atmosphere.
Las Vegas is also one of the best places for shopping. The city is littered with medium to high-end fashion outlets at Caesars Palace and Planet Hollywood. If you want to get exclusive items from select boutiques, the Palazzo or Wynn hotels are bound to have shoes, accessories, and apparel to your liking. Fashion Show Mall is another posh location for shopping, featuring artwork and allures that are both opulent and fascinating.
Of course, you could also see a show or two while you’re in Sin City. After all, the city is renowned for its music performances. Britney Spears, Celine Dion, and Jennifer Lopez have all held residencies and performed at famous venues like Caesars Palace and Planet Hollywood.
And if you are into the heebie-jeebies, you can see a magic show by David Copperfield, while those who prefer something a bit lighter can watch a Broadway performance like the Jersey Boys. Remember to get tickets to these events as far in advance as possible to avoid disappointment and higher ticker costs and so that you can get the most out of your next trip to Las Vegas.