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Summary
This document provides an analysis of gaming demand in Las Vegas, breaking it down into four primary sources: leisure, local, tour/travel, and convention. It details statistics for each segment, such as the percentage of visitors who gamble, the economic impact of tourism, and the growth in convention attendance. The analysis indicates that while leisure and tourism are enormous contributors, convention demand is also significant and growing, and local demand has a more moderate impact.
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Trade Show Week 200 Shows
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Key Quotes (4)
"Demand for gaming can be classified into four primary sources: the leisure segment, local residents, tour and travel groups and convention demand."Source
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"Las Vegas welcomed a record 41.1 million visitors in 2014, an all time record."Source
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"Las Vegas tourism generates more than $45 billion in economic impact for the local economy and supports 376,000 local jobs."Source
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"In 2014, convention attendance was up to 5.2 million, an increase of 8% annually over the last 25 years."Source
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Gaming Demand Analysis
Demand for gaming can be classified into four primary sources: the leisure segment, local residents, tour and travel groups and convention
demand.
demand.
LEISURE DEMAND
Leisure visitation to Las Vegas is enormous with visitors taking advantage of the year-round favorable climate and multitude of attractions.
The leisure segment utilizes both table games and gaming devices and has a higher propensity to play table games than other segments.
According to the Las Vegas Convention Authority Visitors Profile Study, in 2014 approximately 47% of all visitors mentioned vacation or
pleasure, up significantly from 41% in 2013. Of those polled, 71% of all visitors said they gambled while in Las Vegas with an average
gambling budget of $530.
Leisure visitation to Las Vegas is enormous with visitors taking advantage of the year-round favorable climate and multitude of attractions.
The leisure segment utilizes both table games and gaming devices and has a higher propensity to play table games than other segments.
According to the Las Vegas Convention Authority Visitors Profile Study, in 2014 approximately 47% of all visitors mentioned vacation or
pleasure, up significantly from 41% in 2013. Of those polled, 71% of all visitors said they gambled while in Las Vegas with an average
gambling budget of $530.
LOCAL DEMAND
Local demand plays a part in gaming revenue contribution to the Las Vegas market. However, the local segment's impact on the Las Vegas
Strip is moderate. According to the Las Vegas Convention and Visitors Authority, 13% of locals gamble on the Strip with 45% gambling at
least once per week and 75% gambling at least once per month.
Local demand plays a part in gaming revenue contribution to the Las Vegas market. However, the local segment's impact on the Las Vegas
Strip is moderate. According to the Las Vegas Convention and Visitors Authority, 13% of locals gamble on the Strip with 45% gambling at
least once per week and 75% gambling at least once per month.
TOUR AND TRAVEL DEMAND
Las Vegas welcomed a record 41.1 million visitors in 2014, an all time record. Las Vegas tourism generates more than $45 billion in economic
impact for the local economy and supports 376,000 local jobs. Las Vegas is recognized worldwide as a premier gaming destination. From
traditional card and dice games, to slot machines and race and sports book betting, the casino industry has flourished and evolved into
an international phenomenon. A significant portion of the visitor revenue generated in the city is attributed to the gaming industry, which
posted $9.6 billion in revenue in 2014.
Las Vegas welcomed a record 41.1 million visitors in 2014, an all time record. Las Vegas tourism generates more than $45 billion in economic
impact for the local economy and supports 376,000 local jobs. Las Vegas is recognized worldwide as a premier gaming destination. From
traditional card and dice games, to slot machines and race and sports book betting, the casino industry has flourished and evolved into
an international phenomenon. A significant portion of the visitor revenue generated in the city is attributed to the gaming industry, which
posted $9.6 billion in revenue in 2014.
CONVENTION DEMAND
Convention demand within the Las Vegas market is significant. Las Vegas was the most popular trade destination (with a 25% market
share of the Trade Show Week 200 Shows in terms of net square footage) and third most popular convention destination in the nation. In
1990, approximately 1.7 million persons attended trade shows and conventions in Las Vegas; In 2014, convention attendance was up to 5.2
million, an increase of 8% annually over the last 25 years. Future convention expansion in demand is anticipated to see these rates of growth
continue for the foreseeable future.
Convention demand within the Las Vegas market is significant. Las Vegas was the most popular trade destination (with a 25% market
share of the Trade Show Week 200 Shows in terms of net square footage) and third most popular convention destination in the nation. In
1990, approximately 1.7 million persons attended trade shows and conventions in Las Vegas; In 2014, convention attendance was up to 5.2
million, an increase of 8% annually over the last 25 years. Future convention expansion in demand is anticipated to see these rates of growth
continue for the foreseeable future.
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