RSS FeedA look at the past
Doing my job at the Center for Gaming Research, I run across all sorts of interesting facts. For example, take this gem, pulled from the 1979 Form 10-K for Golden Nugget, Inc.:
The Registrant’s hotel provides luxury accomodations and facilities. Management emphasizes courtesy and service to its customers and attempts to maintain a high standard of excellence in all its operations.
While it is impossible to distinguish accurately between local and tourist clientele, the Registrant believes that a substantial portion of its Las Vegas business is derived from tourists, primarily from Southern California. The Registrant also believes that the downtown area of Las Vegas has historically attracted and will continue to attract more local business than the major hotel and casinos located approximately five miles away in an area commonly known as the “Strip.”
This is kind of interesting, because there was no real concept of “locals casinos” yet, but it is clear that locals were an important part of the GNLV business model.
Posted in business of gambling
March 24th, 2006 at 1:57 pm
Man, I’d love to see that 10-K, along with the later stuff when GNI morphed into Mirage Resorts. Is that stuff viewable by the public?
March 24th, 2006 at 3:17 pm
It’s not available online, but I’m using elements of them to put together the timeline histories of companies in the UNLV Gaming Abstract. Check it out at http://gaming.unlv.edu/abstract/index.html. Anyone who wants can look at all the filings here in person, of course. It’s quite an education. I’m amazed at how many development opportunities don’t happen–at one point Mirage Resorts was confidently talking about developing casinos in Bridgeport, Atlantic City, and a few other places, but only ended up building Beau Rivage and Bellagio. It really is a business of chance.