Wynn: Gambling not key to casinos’ success
Harveys has found success with its outdoor concert series. Photo/LTN file
By J.D. Morris, Las Vegas Sun
Nongaming revenue isn’t just crucial to the success of casino-resorts now — in fact, it’s always been “the story,” Las Vegas mogul Steve Wynn said in a speech this week.
Wynn delivered a keynote address to a packed crowd at the first full day of the Global Gaming Expo, or G2E, at the Sands Expo. Much of his remarks focused on revenue sources aside from gambling, an area to which the casino industry has shifted attention in recent years as many patrons have done the same.
Wynn stressed that bankrolling a successful resort on nongaming dollars — from hotel rooms, restaurants, shops and entertainment — is nothing new. He gave a history lesson of sorts, beginning with his tenure at the Golden Nugget decades ago.
Wynn brought up the fact that most Americans now live in a state where they can easily access a casino, meaning that a resort’s gambling opportunities can’t be the only thing attracting customers.