Most people think that running a Casino Make In A Day is pretty much a license to print money. But is this true? Is casino revenue really that impressive – or is it more a case of the glamour and glitz masking shaky fundamentals? Read on to find out the juicy details of Las Vegas revenue, and find out how much do casinos make in a day.
A Casino’s Average Daily Profit
Depends on a variety of things they are businesses like any other and some are run well and some not so well. Casinos do go bust from time to time, after all! However, by looking at the financial reports of some of the biggest casino groups, we can get an idea of VulkanVegas.com the profit the most famous casinos are making each day.
Another factor is the Coronavirus pandemic. This hurt traditional casinos badly but did not impact online casinos in the same way. We will look at the revenues from 2019 so that the figures aren’t distorted by this event. The majority of its revenue comes from sports betting: in 2019, it generated a revenue of £2.14 billion ($2.95bn), of which 77% was from sports and the remaining 23% casino games. Its profit before tax was £136 million ($187m), a margin of around 6%.
This means Flutter made an average of £370,000 profit per day in 2019 or around half a million dollars. Of course, that is spread out over many different sites – but still very impressive, as this is solely from gambling. 888 is another massive online gambling operator, but they specialize more in casino games than sports betting. In 2019, they had revenues of $530 million, made up of $441m in online casino games and $90m in sports betting. Their 2019 annual profit was $45.3m – an average daily profit of $0.12m
Land-Based Casinos are Generally – Casino Make In A Day
more profitable than online casinos. Let’s look at some examples. The Las Vegas Bellagio is one of the most famous casinos in the world. It’s owned by the MGM Group, which also owns eight other casinos in Las Vegas, as well as numerous others across the US and in China.
According to MGM’s 2019 annual report, the Bellagio made a pre-tax profit of $465 million. That’s $1.27m average profit per day. At the other end of the scale is the MGM Springfield in Massachusetts. It made an annual profit of $34 million, an average daily profit of just under a hundred thousand dollars. Still not too shabby considering it only opened recently.
The most profitable land-based casinos are in Macau, China. Check out the Venetian Macao: $1.4 billion dollars pre-tax profit in 2019, or $3.85 million average profit per day. The Venetian Macao is owned by the Sands Group and is the second-largest casino in the world.
A significant part of the annual revenue of many Las Vegas casinos actually VulkanVegas.com comes from non-gambling income. Things like:
- Restaurants & bars
- Shopping Malls
- Entertainment events
The 2022 MGM Report Breaks Down – Casino Make In A Day
the annual revenues of its nine Las Vegas casinos. Together they generated $5.8bn in revenue over the year. This was made up of $1.3bn casino revenue and $4.5bn non-casino revenue (rooms, food, drink, shopping, and entertainment). Of the casino revenue, $1.2bn came from slot machines and $800m from table games such as blackjack.
Slots are clearly big business for Las Vegas casinos. The MGM group’s Las Vegas customers fed $13bn into their slot machines in 2019, with MGM’s margin being just under 10%. Table games (e.g., roulette, baccarat, and blackjack) get less volume but are more profitable: $3bn was spent on MGM’s Las Vegas table games, with MGM taking a 22% cut.
Poker makes up a very small proportion of a casino’s revenue and takes up a lot of space. It would be more profitable for a casino to replace its poker room with slot machines. And in fact, this has happened in some places. However, most larger casinos offer it because they know poker players will also spend money on other casino games, as well as rooms and refreshments.
Hotel Rooms are Just as Important
As slots to the MGM group’s bottom line, with an occupancy rate of 91% and annual revenue of $1.9bn. Food and beverage sales weren’t far behind, with a revenue of $1.2bn over MGM’s nine Vegas properties. Of course, the annual revenue is just the money received before costs are taken into account. And casinos have a lot of costs, whether they are land-based or online.
Online casinos have lower expenses than land-based casinos. But that doesn’t mean they are cheap to run! They still have plenty of overheads.
One of the biggest outlays for any online casino is marketing. There is a lot of competition, and it’s a real battle to attract and keep customers. The Flutter Group spent £465 million ($640m) on sales and marketing in 2019 – that’s 20% of their total revenues of £2.14bn ($2.95bn). 888 spent $162 million on marketing in 2019, nearly one-third of their total revenues. As well as traditional advertising (TV, print and online), online casinos sponsor various events and professionals.
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You won’t get very far as an online casino if you have janky casino software. Customers just won’t put up with it – they expect a certain standard and if you can’t provide it then there are plenty of competitors out there who can. You just can’t risk one of your casino games crashing when someone’s gambling on it. And people expect variety too – 888 have around 1000 different casino games, for example. It’s not just the games either. Online casinos also collect data on their players’ activity and use it to personalize each individual’s experience, by recommending new games and offers. This requires state-of-the-art technology – and that’s not cheap!