Center for Gaming Research
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Paradise Misplaced
Summary of Findings: Gaming
Summmary of Findings: Gaming Income Per Device
from the appraiser's report

The following graphs illustrate the increases or decreases in gaming revenue per device for the “21” tables, the roulette wheel, the crap tables, the baccarat, keno, 5¢ slots, 10¢ slots, 25¢ slots, 50¢ slots and $1 slots. Following the graph showing the income per device is a chart showing the actual annual income per gaming device and the percent of change of 1972 over 1971, 1973 over 1972 and 1974 over 1973. The graphs show the changes in Income per device for 1971, 1972, 1973 and 1974 and show the number of devices installed or licensed along the “Strip” for each the devices during each of the four years.

Overall, the per device income has increased annually from 1971 through 1973. Income declined on a per device basis in 1974 by reason of the heavy addition of devices. Each graph shows the per device income of the upper quartile units and the per device income of the middle quartile units.

“21”, roulette and craps each showed a substantial increase in each of the years except 1974, with the exception of the upper quartile in “21” which showed a slight decline in per device in 1972 from 1971. This, however, is considered to be a result of the large number of devices added in 1972. The change in the number of devices in roulette and craps was nominal with none in roulette and only a slighi,increase in craps in 1973 over 1972.

Baccarat win increased substantially per device each year shown. The number of baccarat tables on the “Strip” from 1971 through 1973 was increased 50% while revenue increased 35% per table. It must be reiterated, that baccarat win per device is not a quartile average but is an average income per device for all baccarat tables on the “Strip”. While baccarat revenue did not increase dramatically per device in 1974, 33% more tables were added.

Most slot incomes had a decline from 197l to 1972 but a substantial increase from 1972 through 1974. The decline in 1972 on 5¢ slots can be attributed to the large number of slots added on the “Strip” during this period of time. The upper quartile average experienced a greater decline than the middle quartile average which would tend to substantiate the affect on the addition of the number of slots. Heavy additions to the number of slots were made in 1974, yet income per slot increased.

The addition on the number of 10¢ slots during this period of time was not as substantial as the addition of the 5¢ slots. However, growth patterns were similar, indicating a declining popularity in 10@ slots. In the 25¢ slots, the upper quartile experienced a decline while the middle quartile slots experienced an increase in income per device. This is considered a result of heavy additions in the number of slots.

The middle quartile income per device on the 50@ slots increased steadily from 1971 through 1974. However, the upper quartile 50¢ slots increased from 1971 to 1972, then declined slightly in 1973 and increased again in 1974. This is considered to be a result of the shortage of 50¢ pieces experienced in 1972. While the average player had sufficient 50¢ pieces to maintain an increase in the income per device on 50¢ slots middle quartile from 1972 to 1973, the heavier played machines declined slightly by reason of the shortage.

The $1 slots declined from 1971 to 1972, then increased substantially through 1974 on the middle quartile and increased substantially all years on the upper quartile. From 1971 to 1972, a shortage in silver dollars was apparent. A large supply of silver dollars was released in late 1972 and early 1973 which is considered to have caused the substantial increase in 1973 over 1972. However, the upper quartlie devices, contained in the more active and high volume larger casinos, had a dollar supply from the casino to maintain the increase in the per device income on $1 slots from 1971 to 1972.

The following is a visual presentation in both graphic and chart form on incomes per device for those devices described previously.

Income per device (21, roulette, craps)

Income per device (bac, keno

Income per device (slots)

Income per device (slots continued)

 

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Last modified Wednesday, 02-Dec-2009 11:36:02 PST