Paper 17: May 2012
Dean Macomber: "The Fiscal Forensics of the Las Vegas Strip: Lessons from the Financial Crisis"

ABSTRACT: Hitting with the force of a 100-year storm, the first two years of the financial crisis caused a $5.2 billion swing from profitability to loss for the top 22 performing Las Vegas Strip properties between peak fiscal year 2007 and 2009. By fiscal year 2011 visitor count had almost climbed back to peak levels but the aggregate loss is still stubbornly high at $ -1.6 billion. Other signs of recovery trickle in but are sporadic and volatile. This article is an attempt to disaggregate the variance and look at where Las Vegas has been, where it is now and how it got there to learn from this trying period and help manage the future.

Keywords: Las Vegas, financial crisis, profitability, analysis, recovery.

View the paper here (pdf)

March 2012 was not a good month for Nevada gaming. It wasn't an awful month, but most reporting areas posted declines in gaming revenue, despite some strengths.

 Statewide, this was an off month by nearly any measure: a double-digit decline in overall revenues, a drop in slot win, and a nearly one-fifth slide in table revenues. Much, though not all, of the table decline can be blamed on poor baccarat results from the Strip (see below), as other key reporting areas had small increases in table revenue. 

Between the two, you should get a good read on what the March numbers mean. Many questions, to be sure.

Nearly all Las Vegas casinos use Twitter. This report contains statistics on how long they've used the service for, how often they tweet, and how many followers they've attracted. In general, casinos make uneven use of Twitter, with some using the service a great deal, some not at all, and most in the middle.  Strip casinos tend to have more followers than Downtown and Locals casinos, but there is not much correlation between a property's size or level of amenities and its number of followers

43-April 12, 2012
Christopher Wetzel
Wetzel is an Assistant Professor of Sociology at Stonehill College. His project looks at how issues of race, class, and gender have shaped debates over gaming legalization since the 1930s. His talk examines how casino proprietors, civic organizations, and elected officials in Nevada have framed subsequent efforts to establish pari-mutuel wagering and a state lottery.

Listen to the audio file (mp3)

View flyer (pdf)

Paper 16: April 2012
Lynn Gidluck. "Halos, Alibis and Community Development: A Cross National Comparison of How Governments Spend Revenue from Gambling"
ABSTRACT: This paper provides a cross-national comparison of how governments around the world distribute revenues from state-directed gambling and how these choices have been justified by proponents and vilified by critics. Case studies where governments have popularized gambling expansion by "earmarking" revenues for particular good causes and where the state has collaborated with the voluntary sector to deliver programs from this revenue stream are examined. Lessons learned from challenges of various approaches are considered.
 
Keywords: lotteries, gambling, granting programs, comparative public policy
 
View the paper here (pdf)

February 2012 was a good month for Nevada gaming. While it didn't see dramatic gains, it had a moderately unfavorable comparison to work against (Chinese New Year in January in 2012, but an extra day due to the leap year).
Statewide, the overall win rose by nearly 6%. Slot win increased by double digits, with handle growing by nearly 5%. Slot hold was at a historic February high, but overall there is evidence of increased demand for gambling in Nevada. Table revenues declined less than one percent which, in light of the timing of Chinese New Year, is great news.
On the Las Vegas Strip, Slot revenue increased by more than 10%, only partially paced by a 5% bump in hold percentage. Table revenues shrank by less than 2 percent, which is a testament to the growing strength of non-baccarat tables, since baccarat win declined by 19%. This was a solid month for the Strip, and one that confirms the thesis that we are seeing a broadly-based rise in play that isn't confined to high-end games.
Downtown Las Vegas had a fantastic month, with higher slot hold playing a role. Overall revenues grew by 14%., with slot win up by 20%. Slot hold rose by 11%, though there was still an impressive (8%) rise in overall slot play. Table revenues fell, but had more overall play, which is a good sign. Downtown appears to be performing solidly once again.
The Boulder Strip, a weathervane for local Las Vegas play, boasted an impressive 23% increase in win, driven primarily by an 18% increase in slot hold. Slot handle grew by a comparatively modest 3%. Table win increased by nearly 45%, with both hold and handle growing. People bet more money and were less lucky this February.
Washoe County showed improvement, with an 8% gain in overall revenues and good showings for both table and slot play. The market appears to have stabilized, though it is still down 22% from its pre-recession levels.

42-April 5, 2012
Lynn Gidluck
Gidluck is a doctoral candidate in history and public policy in the Johnson-Shoyama Graduate School of Public Policy at the University of Regina in Saskatchewan, Canada. Her current work includes a cross-national comparison of how governments around the world distribute revenues from state-directed gambling and how these choices have been justified by proponents and vilified by critics. She is particularly interested in examining cases where governments have collaborated with the voluntary sector to promote and justify gambling expansion through the delivery of public services from gambling revenue

Listen to the audio file (mp3)