According to the latest Las Vegas Convention and Visitors Authority’s Visitor Profile report for 2019, gambling has been the primary reason for traveling to Las Vegas.
Las Vegas Casinos Should Focus on Gambling and Minimize Other Investment
For a while now, Las Vegas hotels & casinos have been investing copiously in all sorts of attractions. Yet, this strategy may prove inefficient for anything that goes beyond gambling. According to a Las Vegas Convention and Visitors Authority’s Visitor Profile report, tourists have one key objective in mind – to gamble at one of the Las Vegas Strip venues.
To most Las Vegas visitors, gaming remained the main focus of their trip, said LVCVA director of research Kevin Bagger. Furthermore, the percentage of people traveling to Las Vegas to gamble specifically has increased to 81% in 2019.
Comparing numbers, the average numbers spent gaming went up to 2.7 hours versus 1.2 hours previously. Along with it, gambling budgets have also increased, Bagger said. People gambled $591.06 on average in 2019, up from $527.05 in 2018.
In light of this report, more casinos may feel they have solid evidence to shut down their properties to anyone below 21. Such moves have failed in the past, but the financial gains from restricting access to adult visitors may surface quickly in the balance book. The main thing is to target investments appropriately, or even cut out on the excessive fat.
Circa Resorts’ Derek Stevens seems to agree with the suggestion and he has confirmed that the company he represents could soon try to restrict access for children and any individual not of the legal gambling age yet, specifically to the casino part of the resort.
LVCVA’s Matters as It Shapes Business Strategies
The LVCVA’s Visitor Profile report is one of the most important documents casinos can go on, as it gauges trends and collects data about the 40 million visitors who travel to Las Vegas yearly, whether it’s for business or leisure.
The survey is carried out by an independent company which randomly selects 3,600 visitors, and roughly 300 per month to create a full picture of the average visitor. One of the interesting facts that surfaced about Las Vegas and Nevada in 2019 was the satisfaction rate.
Visitor satisfaction reached 99%, making Las Vegas one of the most desired places to visit, no matter what. At the same time, complaints were mostly pivoting around the fact that each visit had been too short.
The picture in 2020 may look completely different, however, due to the COVID-19 outbreak which has presented businesses with many difficulties. With the number of high-spending customers falling, and visitors generally finding a Las Vegas in the grasp of COVID-19 a duller place, the LVCVA’s Visitor Profile will most likely paint a more disheartening picture as soon as next year.