Friday, January 18, 2008

Strip Revenues Up, Downtown Down

Today's article in the Review Journal is certainly a good news/bad news sorta deal depending on what side of the Las Vegas city limits you do business.

At first blush "GAMING REVENUE: Casinos post record net income Report puts figure for major Nevada resorts at $5.8 billion" sounds great, but as I read through the figures some disparity rose its ugly head.

"A breakdown shows resorts on the Las Vegas Strip had gross revenues of $15.8 billion and a net win of $1.66 billion, up 33 percent. Downtown Las Vegas resorts reported revenue of $1.1 billion and net win of $64.6 million, down 54 percent."

Wow, for the downtown casino operators, that's gotta hurt.

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