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Las Vegas Turns to Night Clubs

Las Vegas Turns to Night Clubs

Las Vegas has turned to lavish nightclubs with massive parties in order to keep attracting customers.

Las Vegas Turns to Night Clubs

Casino operators in Las Vegas have found that luxurious nightclubs are an excellent source of revenue

The CEO of MGM Resorts International, Jim Murren, said “We learned a long time ago that in order to continue to attract people from around the world, we have to provide things that are hard to find anywhere else. These clubs, if done correctly, are tremendous magnets.”

The XS club at Wynn Las Vegas is the top earning nightclub in the country and joins six other Vegas venues in the top 10.

According to the trade publication Nightclub & Bar it brings in annual revenue of around $90 million.

There are now over 50 similar clubs in Vegas with new ones opening all the time such as the five-story Hakkasan at the MGM Grand which opened last month and Light at Mandalay Bay, which marked Cirque du Soleil’s entrance into the club world.

Nightclubs are becoming more popular as gambling falls in Las Vegas. In the heart of the recession when overall Strip revenues fell by 16%, nightclubs made more profit than ever. Now casino tycoons are busy transforming the Strip into the clubbing capital of the world.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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