The Secret That Las Vegas Has Figured Out
Chicago has plans to build a casino — and according to reporter Chris Jones for the Chicago Tribune, “fevered debate is underway about the most desirable location for the newly authorized Chicago casino.”
“But these arguments are absurd,” writes Jones, “the far more important question is what should be inside this still mythical Chicago casino.”
The answer? Live entertainment.
Jones continues: “Here’s why. Gambling revenues are in decline from the Foxwoods Resort Casino in Connecticut … to the Las Vegas Strip. … What’s the answer? Las Vegas figured it out long ago. At your typical large Las Vegas casino, gambling only accounts for 34 percent of revenue. The rest of the money comes from hotel rooms, fancy restaurants, cocktail bars and, of course, more live entertainment than any other city in the world. …
All the most successful casinos have figured this out, even those far from Vegas: Foxwoods has an outlet mall, a museum, headliner concerts and an impressive portfolio of celebrity chefs. Its patrons are willing to drive past other casinos because there is far more to do there.”
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