Stateline casino win continues to decline
Little snow equated to declining revenues for Stateline casinos in January.
The Nevada Gaming Control Board on Friday released the revenue numbers for the first month of the year. Statewide revenues dropped 2.76 percent to $884.2 million compare to 2013.
Stateline revenues fell 12 percent to $15 million. Washoe County numbers were up 1 percent at $38 million.
It’s likely February numbers will be better because of the Super Bowl.
— Lake Tahoe News staff report
Not good. That a lot of tip $$ not making it to locals and further supports the casino corporates decision to not invest in the Tahoe properties. What a shame because until we find something to replace those jobs and salaries we will continue to suffer financially.
Maybe the reality is that we are just overbuilt residentially and commercially. Too many businesses for too little people. I wish there was a buyout plan and we could raze the old and replace it with green space. What happened to the old USFS program where they bought up environmentally sensitive lots and houses?
Turn South Lake Tahoe into a sports vacation spot. Gambling is a dying business. Dual income families with young children at soccer, hockey, water polo tournaments will spend 10X $ then blue collar gamers….
Used to be that Stateline casinos winter revenues went up with less snow. They’re doing something wrong down there, time for a new plan. 99-cent margaritas and tacos aren’t going to make it.
Starting in April the Horizon will be completely redone, so there is going to be a ton of construction jobs there, plus a company that manages some major casinos have signed on to operate it for the Park Family.
I agree gaming is no longer the draw it was, but it is still one of the many attractions that Tahoe has to offer, just not the main one any more. They no longer have the gamblers who came by the bus loads just to gamble and do nothing else. These people are gambling closer to home.
They should make the broken stoplight at State line stay red even longer. People might look at the tacky marques and want to stop and play.
Marketing geniuses at work. What you say Tahoe South?
Tahoe South does not control the Marques, their Job is to bring people to tahoe. It is up to each business to market to the people when they get here
Yeah Warner Gaming, who took over the Hard Rock in Vegas when the Hard Rock Corp. was about to default on it in 2011, signed the lease to take over the Horizon. Apparently big things planned?! Good news! Maybe even make it a Hard Rock if the Corp. can get out of its Harveys lease. The company would much rather see a nice big HRC where they, or at least a franchisee, control their ‘four-walls’, than the minor-league HRC currently operating in town.
But Tahoe South does clearly need to come up with more flexible plans when we have poor snow years. They clearly have failed in their mission to bring people up this year!
But gaming #’s in town are almost always reflection of how Harrah’s/Harveys are doing as they control over 70% of the market. That their parent corp., Caesars, just hired a ‘restructuring expert’ (search wsj.com for details) does not bode well for the company, and thus gaming in our town! Hopefully they don’t take our town’s economy down with them?!
The demographic of the gambler and the skier has changed with the generations. My parents skied and gambled and put us kids in the arcade till midnight. The arcade was packed with kids like us. Now people come to Tahoe with their kids and go to the Redbox and get a pizza. There is not the extra income to gamble it away when you have to pay so much to ski, eat and rent a house or hotel.
The gamblers are staying local and going to Indian Casinos and sleeping in their own beds at night. If they want to see a show the Indian Casinos have much better entertainment options.
It seems scary when you pin the hopes of gambling in South Lake on the Horizon.
Good points Rhinopoker! Especially that last paragraph!
Again. Has anybody recently “looked” at the Horizon “Casino?”
here’s the new marketing slogan ( if you don’t wipe your a** with $100.00 bills then we don’t want you )
that’s the direction the people in charge are taking our town
There is no Tahoe South. I live in South Lake Tahoe.
If what Slowroller says is true, that also will fail, as those with the resources to be “Whales” (used to be called simply ‘high-rollers’) have too many other luxurious choices beckoning them, not to mention the overbuilding in Las Vegas, which will draw both the large convention business and, absent that, offer $ 19.00 rooms to draw them in. . .Tahoe is dying on the vine, as it has ‘absentee’ ownership (in more than one sense of that word) who never really discerned what the Tahoe market really is, with only $$ in their eyes.
Spoken by someone who was part of the ‘entertainment heyday’ – it is different when, absent the understanding AND care, only the numbers become important, especially when there’s 20+ billion dollars in purchase-price to pay. . .
That’s something that our entrepreneurs (Bill Harrah & Harvey Gross)never had to deal with. . .it was ‘only’ all about service. . .
Rock 4 Tahoe, yes the Horizon needs work that is why they are spending 1o’s of millions of dollars to fix it up. Slowroller maybe you will get some striping work this summer there.
Amon, of course you live in South Lake Tahoe, TahoeSouth is a marketing brand and the only reason they have to use that is because someone is sitting on the web address SouthTahoe.com, and they want huge amounts of money to sell it. Now if the taxpayers of the city want it to be changed to south lake tahoe, then i guess they city should try to buy that name. As it is there is not one dollar of city tax payer money going into the marketing of TahoeSouth.
Gary, this sign is in my shop
SERVICE
In order to be successful, we must sell our services at a profit and still satisfy our customers. If we satisfy the customer, but fail to earn a profit, we will soon be out of business. If we make the profit but fail to satisfy the customer, we will soon be out of customers. The secret of doing both lies in one word: SERVICE. Service means doing something so valuable for the customer that he or she is glad to pay a price that allows us to earn a profit.
Stateline’s future can be seen due north, about 18 miles +/-. Take one look at Crystal Bay, and you will see the future of Stateline.
Relo. I hope Horizon does something soon, the reviews on various web sites lately are really bad.
Rock they cant start work until the lease expires at the end of this month, but it looks like they plan on reopening begining of the summer but im betting it wont be until july 1 at least
Maybe opening ANOTHER asian massage shop in town will help rehab TahoeSouth’s image. ROFLMAO
It would be ironic if the Horizon ends up outclassing the Caesars properties.