Gambling revenues from Las Vegas will probably never surpass the levels of 2007, when over $7 billion was raised by Strip casinos. By 2009 the figure was already below $6 billion, which was the lowest for a number of years. These numbers have gone up in the following years, with the economic recession slowing down. With the economy in a healthy position right now, figures from Vegas are rosier.
The 2013 figures for revenue stand at around $6.5 billion. This means that companies such as the MGM Resorts, Wynn and Las Vegas Sands have been making great profits. However, that has not stopped them from trying to adapt to this new world with their business practices.
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With the possibility of other casinos popping up all over the country, along with the potential legalization of online gambling, Vegas must be careful. The companies that are responsible for the Strip’s major casinos know that their revenue streams are always under threat from new avenues.
That is why they have been turning their attention to Macau over the past few years. The East Asian resort is one of the primary locations for high end gambling in the world. Even though Macau revenues slowed down a bit in 2014, there is tremendous opportunities for growth. An entire section of Macau has not been properly developed, with more casinos and entertainment centers expected.
A comparison of the figures from Macau and Las Vegas shows that the Strip does not have the Asian site’s growth potential. From 2010 to 2014, the numbers for Macau changed from $24 billion in revenue to $45 billion. This is a clear indication that the future for many Vegas based companies is Macau, not their home town casinos.
Vegas will always be important to these companies, but the bulk of their profits will come from Asia.