Jul 29th, 3:15 PM - 4:15 PM
Estimating the Impact of Entertainment on Restaurant Revenues of a Las Vegas Hotel Casino
Considering the growing presence of non-gaming amenities in a mature casino market such as the Las Vegas Strip, this study examined the relationship between entertainment and casino-operated restaurant revenues. Using the internal data of a subject Las Vegas hotel casino, this research found a statistically significant and positive relationship between daily show headcounts and restaurant revenues. This finding seems to imply that customers attending shows are likely to patronize restaurants in the casino on the same trip. The positive entertainment- restaurant relationship suggests that casino executives should leverage show traffic with additional spending venues such as restaurants to optimize property cash flows.