The Las Vegas Strip is known for its many hotel resorts that are filled with gamblers on the casino floors. Whether it's slots, table games, or betting in the sportsbook, the Strip casinos generate significant revenue for their owners.
But casino games are not the only entertainment on the Strip generating revenue for casino operators. Guests have many options for daytime and nighttime entertainment on the Strip and its surrounding areas.
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Circus Circus Hotel and Casino is both a daytime and nighttime destination for families offering its Carnival Midway with arcade games and prizes which opens daily at 11 a.m. The Midway also surrounds a circus stage featuring free circus acts starting at 1:30 p.m. Of course, guests under 21 are not allowed on the Circus Circus casino floor.
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For daytime leisure, Las Vegas guests can lounge by the swimming pool or play a game of golf. When the sun goes down, there's plenty of evening entertainment available in and outside of the casinos.
Visitors can enjoy dining at restaurants operated by celebrity chefs, including Wolfgang Puck Bar and Grill at MGM Resorts International's (MGM) MGM Grand or maybe Gordon Ramsay's Hell's Kitchen at Caesars Entertainment's (CZR) Caesars Palace. Celebrity chefs Bobby Flay and Guy Fieri have restaurants at Caesars properties as well.
Guests can watch one of the classic magic acts on and off the Strip, such as magician and illusionist David Copperfield at MGM Grand Hotel and Casino or maybe Penn & Teller's magic, illusion, and comedy act at the off-Strip Rio All-Suite Hotel and Casino.
Maybe guests would prefer to take in one five Cirque du Soleil shows in Vegas – Michael Jackson One at Mandalay Bay Resort & Casino, Mystère at Treasure Island, O at Bellagio Hotel and Casino, Kà at MGM Grand and Mad Apple at New York-New York Hotel and Casino.
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When it comes to music, plenty of big-name artists have residencies on the Strip, including Adele's "Weekends With Adele" residency at the Colosseum at Caesars Palace, Donny Osmond at Harrah's Showroom, or Wayne Newton at Bugsy's Cabaret at Flamingo.
All of this entertainment on the Strip is part of the non-gaming revenue that has been rising and setting records at hotel resort casinos.
Caesars Entertainment Inc. on Oct. 29 released its third-quarter earnings results, which included its gaming and non-gaming performance.
Caesars reveals earnings results
The Reno, Nev., casino operator's third quarter net revenues declined by 2.6% year-over-year to $2.87 billion for a $9 million net loss compared to net income of $74 million reported in 2023.
The company also reported a slight 4% decline in adjusted earnings before interest, taxes, depreciation, and amortization, or EBITDA, to $1 billion from $1.04 billion a year earlier for the quarter ending Sept. 30, 2024.
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Caesars' results would likely be a little worse if the company's Las Vegas non-gaming revenue and cash flow did not set quarterly records and Caesars Digital didn't set an all-time quarterly record for adjusted EBITDA.
The hotel casino resort operator in the second quarter had projected an increase or flat results for Las Vegas in the third quarter, CEO Tom Reeg said in an Oct. 29 statement. Las Vegas Ebitda dropped about $10 million, which was all gaming table-hold related.
"It was not poor table-hold," Reeg said. "It was within our range of expectations, just not as strong as last year."
Results for Caesars' Las Vegas operations reflect record third-quarter hotel, food and beverage, and banquet revenues driven by strong hotel occupancies of 97.1% and average daily room rates, Reeg said. Caesars did not reveal specific non-gaming amounts in its statement.
Caesars Digital also set an all-time quarterly record for adjusted Ebitda reporting over 40% growth with $303 million in revenues and $52 million in adjusted Ebitda compared to $2 million in the same period a year earlier.
The third quarter adjusted Ebitda was also 30% higher than the second quarter adjusted Ebitda of $40 million, as revenue increased 9% from $276 million to $303 million.
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