Vegas magnate Steve Wynn certainly has something new to be anxious about this holiday season. Investing about $2.3 billion, the brand-new hotel dubbed Encore will be open to the public this coming week.
This posh casino-hotel is joined to the extremely trendy Wynn Las Vegas on the Las Vegas Strip. While tons of Sin City hotel-casino investors are trying their hardest to discover a manner to keep their hotel-casinos open, Wynn is doing extremely well with his $billion Vegas properties.
This 2000 room casino-hotel is another incredible creation by Wynn. The big attraction of this hotel will be the nightclub, dubbed XS. Steve has noticed in the last few years that nightclubs are a very big draw in Las Vegas, Nevada, and not necessarily the hotel-casinos like they were in the past. Steve says that Sin City nightclubs typically make more income and are a big hotspot for the younger set.
Wynn has also constructed a posh steakhouse near the XS nightclub. Inspired by the famous Colombian artist, Fernando Botero this circular restaurant has a massive Botero statue as the main centerpiece. Not quite fantastic as the nightclub which it is adjacent to; the Botero steakhouse is intended to go rather well with the flamboyant Sin City nightclub.
The thought pertaining to XS and Botero is a kind of St. Tropez atmosphere, where the party continues without a pause and the main part of the partying occurs near a swimming pool or oceanside. Times are changing drastically in Vegas, where folks fancy drinking and parties to slots these days.
Although all the big casinos are doing all they can to attract more Las Vegas, Nevada visitors this year with price cuts and coupons, their slot machine business is on the decline. And while Sin City slot machine business makes up about two thirds of Las Vegas’ earnings, it’s not such good news for the Sin City hotel casinos.
According to the Gaming Control Board, Las Vegas gamblers are wagering $1.1 billion less in slot machines than last year. Slot machines on The Las Vegas Strip are down half a billion dollars. This represents a drop of 12% compared to last year. With drivers paying more than $4 per gallon for gas, bettors are really having to budget their spending these days. On the other hand with the cost of gasoline going down, these figures may change in the future.
Sin City hotel casinos aren’t really concerned about this slump in slot machine earnings, the latest reports show that table game play is actually increasing. On The Strip the volume for Vegas table games is up 5 percent, with baccarat play up 15 percent and blackjack on the rise at 7 percent. Even though this may seem like a good thing, the truth is that Las Vegas casinos took in 21 percent less in July because of some lucky bettors as well as gamblers winning a larger percentage than customary.
The popular saying, “The house always wins”, might have been the norm in the past. But as these reports have shown us, Las Vegas casinos are are trying harder to make a profit than in the past. This could be a prime time for bettors to start using their Sin City coupons, taking advantage of discounts, and using their frequent flyer miles. With the Sin City hotel casinos having a run of bad luck, this might be the best time for you to visit Las Vegas and it’s casinos.
