Las Vegas Is no Longer a Casino Town

The Las Vegas Strip has been the heart of gambling in the U.S. for decades, but it's not as casino centric as you may think. Over the last 20 years, resorts have focused more on non-gaming activities like hotels, restaurants, entertainment, and shopping. 

When investors are buying gambling stocks like MGM Resorts (NYSE: MGM), Caesars Resorts (NASDAQ: CZR), and Wynn Resorts (NASDAQ: WYNN), they are getting businesses involved in a lot more than just casinos. 

Wynn Resorts, MGM, and Caesars break down their numbers into casino, food and beverage, hotel, and other sources of revenue. I've lumped the final three sources of revenue into non-casino revenue. You can see below that the casino only makes up about a quarter of the revenue generated on the Las Vegas Strip in each company's most recently reported quarterly earnings. 

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Source Fool.com