Residents living in Las Vegas are visiting local casinos in growing numbers and helping to stabilize the local gaming market in the face of growing domestic and international competition.
Morgan Stanley analyst Thomas Allen said increased attendance by locals at locals-focused Station Casinos and Boyd Gaming reflects and overall locals market recovery in Las Vegas gaming.
In Clark County, gaming among the locals rose by 3.1 percent through September, according to the Nevada Gaming Control Board. Station Casinos, which owns 19 casinos mostly catering to locals in the Las Vegas area, reported a 4 percent rise in revenues during the second quarter and posted 17 quarters of continued cash growth, Allen said.
Boyd Gaming, the Las Vegas area’s other primary provider of local gaming opportunities, said its revenue grew by 3.5 percent through September and reported a 17 percent rise in cash growth.
Allen cited an increase in non-gaming attractions, such as restaurants, stores, movie theaters, and entertainment, as driving increases in locals visiting Las Vegas-area casinos.
