- Las Vegas casinos turn to retail centres to boost customer numbers
- Non-gaming activity outstrips casino game revenue each year in Vegas
There’s only one way to spend your money in Las Vegas, right? Wrong. In an effort to attract more customers and as a source of further income some popular Las Vegas casinos have began to invest in their very own retail outlets.
And it’s proving to be big business too. Recent reports have noted that non-gaming revenue in the region continue to surpass gambling revenue.
Double the worth of table games
In places where casinos once placed flashy attractions such as plush water fountains, these same are turning their attention towards building shops in order to maximise their profits
Retail and other nongaming revenue surpassed casino gambling for the first time in 1999 and has continued to do since. In 2016, retail and nongaming attractions along with hotel rooms, restaurants and bars brought in more than $11.2 billion in revenue, double the $5.2 billion that table games and slot machines generated.
In Vegas those kinds of figures talk. And, as a result Las Vegas casinos are doubling their efforts to seize upon the growing opportunity for revenue. In 2014, Treasure Island Hotel & Casino replaced a lagoon that was used to stage a regular pirate show in front of the casino and converted it into a retail outlet.
Replacing the Bellagio fountains?
Subsequently, in 2015 Bally’s converted a garden into the Grand Bazaar Shops, an outdoor mall situated just a short walk from Caesars Palace. Casino plans to open up new retail destinations at the expense of other attractions continue to be made. Most recently, MGM Resorts International’s executives are reported to have held discussions to replace the lavish Bellagio Fountains with a boutique shopping and restaurant promenade.
Indeed, retail malls and destinations are becoming so frequent that popular chains have now started to open up stores in Vegas. The Showcase Mall, which sits north of the MGM Grand Hotel, is set to open flagship American Eagle Outfitters, Adidas and T-Mobile stores.
All signs point towards Las Vegas evolving. Casinos are increasingly looking at new ways to draw customers and, if recent reports are anything to go by, those set to visit the world’s most recognisable gambling location could soon have other ways of spending their hard-earned money.
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