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Sunday, October 12, 2014
The Sheer Sums of Money Lost at Casinos Every Day Will Shock You
Table games are big business It might not seem so among the dings of slot machines in Las Vegas, but the biggest revenue generator at casinos today is table games -- particularly in Macau.
Below is a table that shows just how much was lost on average at Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ: WYNN) table games and slot machines every single day last quarter. The figures in Las Vegas are impressive, but Macau is simply astounding.
The Venetian/Palazzo Las Vegas
Wynn Las Vegas
The Venetian Macau
Source: Company earnings reports.
For perspective on the $26,146 per day lost at the average table at Wynn Macau last quarter:
$1,089 is lost at an average Wynn Macau table game every hour of the day, or $18.16 every minute.
Wynn Macau generates an average of $9.5 million in revenue at each gaming table over the course of a year.
If we assume a house advantage of 2%, to generate $26,146 in revenue daily, $1.3 million would have to be bet at each table every single day. At that rate, $477.2 million is bet at each table every year. (These estimates are likely low.)
The Parisian is Las Vegas Sands' latest Macau resort and has a $2.8 billion budget. Image source: Las Vegas Sands.
Slot machines aren't nearly as popular in Macau, where baccarat is the game of choice, but you can see they still generate a tremendous amount of revenue.
The house always wins There's a reason why casinos keep getting bigger in Las Vegas and Macau, and why gaming companies do everything they can to expand into new gaming markets, such as Singapore and Japan. There's big money at stake, especially in Asia.
Keep these figures in mind next time you're at a casino. That table at which you might play a few hands of blackjack could be pulling in thousands of dollars in revenue for the casino each and every day.
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