Most people think that running a casino 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.
AVERAGE DAILY CASINO PROFIT
A stack of coins next to a money bag
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 the profit the most famous casinos are making each day. One of these reports includes the average amount a typical casino visitor would spend on a casino.
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 Flutter Group is the largest online casino operator in the world. Its brands include PokerStars, PaddyPower, and Betfair, among others.
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% from casino games. Its profit before tax was £136 million ($187m), a margin of around 6%. By diversifying their offering, online casinos make a consistent profit.
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. 슬롯사이트
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 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.