Vol. 4, No.9, September 2008, Tumbling Dice
Visitors avoiding Vegas
Las Vegas visitation in June was down slightly, possibly indicating a worsening trend for the city’s casino operators.
Previously, operators were reporting seeing the same number of people in previous years, but noted that they were just spending less than they had been.
Michael Gaughan of South Point said he is seeing weekend occupancy rates nearing 100 percent.
“I’m keeping pace with last year,” he said, “but I’m doing it by bringing in more people.
“The people are spending less. If they’re going to spend less, you’ve got to bring in more people.”
With a 3.1 percent drop reported in June that might be harder to do. For Gaughan, 50 percent of his business is local, so it’s not as difficult, but it is still a challenge.
The Las Vegas Convention and Visitors Authority reported the June occupancy rate was 89 percent, also down from the previous year.
Previously, operators were reporting seeing the same number of people in previous years, but noted that they were just spending less than they had been.
Michael Gaughan of South Point said he is seeing weekend occupancy rates nearing 100 percent.
“I’m keeping pace with last year,” he said, “but I’m doing it by bringing in more people.
“The people are spending less. If they’re going to spend less, you’ve got to bring in more people.”
With a 3.1 percent drop reported in June that might be harder to do. For Gaughan, 50 percent of his business is local, so it’s not as difficult, but it is still a challenge.
The Las Vegas Convention and Visitors Authority reported the June occupancy rate was 89 percent, also down from the previous year.
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