August 21, 2008 - No matter where you're from,
you've probably heard the U.S. dollar has not been doing too
good of late. In fact, Uncle Sam's economy is facing one of
the largest downturns in a good long while. And might I say
(this being the gambling blog and all) that amidst this
weakened state, the Las Vegas land-based casino gambling
industry is apparently facing some pressing times of their
Go figure, right? Or perhaps I should rephrase that
and say the resort casinos on the Vegas Strip are facing
hard times. Apparently, the small casinos that dot the
Las Vegas Valley have not been hit with the loss of
business that the heavy-hitting resort casinos on the
good 'ol Strip have been trying to deal with, while all
along, condos continue to still go up.
I recently read an editorial in the Las Vegas Sun
that highlighted a couple of these smaller "locals"
casinos - The Rainbow Club & Casino and Silver Nugget
Casino in North Las Vegas. Both properties, unlike their
larger counterparts, have actually seen an increase in
business from the same time last year. Even the larger
"locals" casinos off-Strip have been hit with a drop in
But places like the Rainbow Club don't have the extra
amenities like the locals casinos owned by Station
Casinos and Boyd Gaming. One of the most obvious of
these are the hotel rooms - the revenue of which is
being hit the hardest as a result of fewer travelers.
While restaurant amenities are common to most casino
properties, the key to Rainbow Club and Silver Nugget's
success has been keeping prices down low. The Rainbow
Club is serving prime rib and porterhouse steak for less
than $8 and is seating about 8,000 people per week. You
won't find that at the Red Rock Resort.
Another factor that has proven beneficial to the
smaller casinos is the sense of friendliness and
intimacy they can provide. The bulk of business at these
properties indeed comes from locals (most of which are
retiree's on fixed incomes), who don't mind losing their
bankrolls to the slot machines so long as they can have
a good time talking with casino employees and keeping
their bellies full. Chock one up for the small guys.
Honestly, I don't feel sorry for the big casinos.
August, 2008 | Categories: