What Casino Pays Out The Most In Las Vegas
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According to the best data I could find on the subject, you can gamble at any of 136 total casinos in Las Vegas.
But they’re not all separate business entities.
In fact, most of them are not individual businesses. Most of the casinos on the Strip are owned by one of four different companies.
Who owns the Las Vegas casinos?
This post offers some answers.
Not every business in Las Vegas counts as a casino, and some of the casinos included in that tally of 136 casinos are located just outside the Las Vegas city limits.
When most people think of Las Vegas these days, they think of the Strip, which is in Paradise and Winchester — both unincorporated towns just outside the city limits.
Also, for purposes of this tally, I’m not including small local businesses with a gambling machine or two — you can find plenty of bars and gas stations that fit that criteria. None of them are what I would call a casino, although definitions vary.
Any business with more than 15 slot machines or that offers tables games (like blackjack, craps, or roulette) can safely be included under the category of “casino,” though.
Most of the casinos in Las Vegas are either on (or just off) the Strip or on Boulder Highway. Between just those two locations, you’ll find over 90 of those 136 casinos.
Downtown Las Vegas also has a couple of dozen casinos, and the rest are in North Las Vegas.
Together, Las Vegas casinos generate $10 billion a year in revenue. About two-thirds of that is generated from casinos on the Strip.
MGM Resorts Owns a Lot of Casinos in Las Vegas
Mandalay Bay and MGM Resorts merged nearly 15 years ago to become one of the biggest casino-owning companies in the city. Some (but not all) of the casinos in Las Vegas they own include the following.
- Aria
- Bellagio
- Circus Circus
- CityCenter
- Delano
- Excalibur
- Luxor
- Mandalay Bay
- MGM Grand
- The Mirage
- New York New York
- Park MGM (Used to be the Monte Carlo)
- Vdara
That’s a huge number of casinos on the Las Vegas Strip for one company to own — almost 25% of the properties on the Strip, in fact.
And since these are some of the largest casinos on the Strip, MGM Resorts controls a larger number of the gambling action than you might expect. They probably account for 40% or 45% of the gambling revenue on the Strip.
In the last couple of years, MGM Resorts has started moving into the online gaming space, too. They recently signed a partnership agreement with Yahoo Sports to provide sports betting functionality.
Caesars Entertainment Is the Other Big Player in Las Vegas Casinos
Caesars Entertainment got big as the result of a merger between Caesars and Harrah’s. They own the following casinos.
- Bally’s
- Caesars Palace
- The Cromwell
- Flamingo
- Harrah’s
- Linq
- O’Sheas
- Paris
- Planet Hollywood
- Rio Suites
- Harrah’s in Laughlin
Caesars is the fourth-largest gaming company in the world, and they generate $8.6 billion a year in revenue. Not all of that is generated by their Las Vegas properties, but a huge chunk of it is.
Caesars also owns close to 96 acres of undeveloped land near the Las Vegas Strip. I’m betting that they’ll add more casinos there at some point, but this post is about who owns which casinos in Las Vegas now, not in the future, so I’ll save the speculation for later.
Boyd Gaming Is Probably the Biggest Casino Company You’ve Never Heard Of
Boyd Gaming runs multiple casino properties from its headquarters in Paradise, Nevada. The company makes the bulk of its money from casino gambling, which generates 75% of their revenue.
Boyd Gaming owns the following Las Vegas casinos.
- Aliante
- California Casino
- Cannery Casino
- Eastside Cannery Casino
- Eldorado Casino
- Fremont Hotel and Casino
- Gold Coast
- Jokers Wild
- Main Street Station
- The Orleans
- Sam’s Town
- Suncoast Hotel and Casino
Three of these casinos — California Hotel and Casino, Fremont Hotel and Casino, and Main Street Station — are in Downtown Vegas.
Many of Boyd Gaming’s casinos cater to customers who are interested in spending less money. A lot of their casinos have hotel rooms available at $40 per night, sometimes less. Fremont and Main Street regularly have room rates as low as $30 a night on weeknights.
Boyd Gaming’s casinos cater to a largely locals market, and their odds and payouts are higher than the big corporate casinos on the Strip.
Station Casinos Is the Other Big Casino Owner in Town
The headquarters for Station Casinos is in Summerlin. Station, like Boyd, specializes in offering casino games with great odds to local gamblers. In fact, you can find the best video poker games in town at several of the properties owned by Station Casinos.
They own the following properties.
- Boulder Station
- Green Valley Ranch
- Palace Station
- Palms Casino Resort
- Red Rock Resort
- Santa Fe Station
- Texas Station
- Fiesta Henderson
- Fiesta Rancho
- Wild Wild West
Perhaps the most notable thing about Station Casinos is the availability of high-paying video poker games that aren’t available at other casinos.
Video poker is one of those games that has a high payback percentage, but it’s only high if you choose the right games with the right pay tables. Station Casinos offer more of these games than almost any other company in Las Vegas.
How do you define a high-payout video poker game?
Generally, I look for games with a payback percentage of 98% or higher.
It won’t take much research on the internet to find out which pay tables and which games you should look for at Station Casinos.
If you combine this low house edge with the rewards you get from joining the slots club, you might even show a small long-term profit playing video poker at Station Casinos.
But you’ll probably not make much of a living from that endeavor.
Golden Entertainment owns the following casinos, but they also operate taverns with slot machines in them. And they provide slots to other businesses.
- Aquarius Casino Resort
- Arizona Charlie’s Boulder
- Arizona Charlie’s Decatur
- Colorado Belle
- Edgewater Hotel and Casino
- Stratosphere Las Vegas
They also own three casinos in Pahrump, Nevada, which is about 60 miles from Vegas.
I have experience at the Stratosphere, by the way, and I recommend checking it out next time you visit Vegas. The rotating restaurant, Top of the World, offers the most breathtaking views of Las Vegas that you could imagine.
You Can Also Find Individual Casinos Owned by (VERY RICH) Individuals
Casino Royale, for example, is owned by Margaret Elardi. She’s in her mid-90s, and her son Tom helps to run the casino. By all accounts, the Elardis are private people. They used to own the Frontier in the 1990s.
El Cortez is owned by Kenny Epstein. It’s one of the smaller casinos in town, but it’s also one of the oldest, having opened in 1941. It’s on the National Register of Historic Places.
El Cortez is the oldest continually-operating casino in Las Vegas by a far sight — no one else comes close.
Slots-A-Fun is owned by Phil Ruffin. You’ll find it right next to Circus Circus, but you’ll need to be alert — it’s one of the smallest casinos in town. Slots-A-Fun used to be famous for offering dollar blackjack and $2 craps, but they no longer offer table games at all. You can still shoot pool and play shuffleboard there, though.
What Casino Pays Out The Most In Las Vegas Casinos
They also have a bowling alley.
Who owns the casinos in Las Vegas?
Most of them are owned by four or five companies, although several are owned by individuals.
What Casino Pays Out The Most In Las Vegas Casino
If you’re gambling on the Strip, you’re probably doing business with a huge corporation.
But even if you’re gambling at one of the smallest casinos in Las Vegas, you can bet that the owner is rich beyond belief.
Las Vegas Slot Payouts
Here is a list of different slot payouts from all the different Las Vegas casinos:
Pay Out Comparisons, Brick Casinos Vs Online Casinos
There are some obvious key differences between playing slots in a brick and mortar casino and playing slots in an online casino. A brick and mortar casino offers perks such as the flashing lights of the machines, free drinks for players, and an exciting atmosphere. An online casino competes with this by offering large signup bonuses and loyalty rewards for players who stick to one company. However, not many people know that the percentage pay out also varies between a brick and mortar casino and an online casino. Not only does the percentage pay out differ between online and physical casinos but it also varies from slot game to slot game! You can try playing latest online slots for free at casinogames.ca/slots.
What is a Pay Out Percentage?
To understand the differences between pay out rates of a brick and mortar casino and online casinos, one must first understand exactly what a pay out percentage is. The pay out percentage is essentially an estimate of what a player can expect from a slot machine in terms of pay out. Slot machines are programmed to pay out winnings as a percentage of all the wagers that are paid into the machine by players. However, it is important to remember that the machines are still random and the pay out percentage covers the lifespan of the machine. This means that putting $100 into a slot machine with a 90% pay out percentage doesn’t guarantee a $90 return! These percentages can vary quite significantly between a brick and mortar Las Vegas casino and an online casino. For example in a Las Vegas casino, the average pay out percentage range is 86-93% whereas an online casino offers an average pay out percentage range of 95-98%. Thats quite a significant difference! Payout ratio is scientific metric, also common language in the investment and financial world.
Why Does the Pay Out Percentage Vary?
As you can see above, there is quite a significant difference between the brick and mortar casinos in Las Vegas and online casinos in terms of pay out percentage. The main reason for this is that physical casinos in Las Vegas have much higher operational costs and overhead expenses. They operate in a physical building which requires rent and maintenance as well as employing staff and other general expenses. Online casinos on the other hand have very low operational costs and most of the profits are re-invested into the company in the form of marketing and bonuses. You can see this in the online casinos reviewed at BestCasinosCanada comparison site with many sites there offering new players welcome bonuses from $1000 up, sums which Las Vegas casinos can't match.
The remaining money from the pay out percentage is known as the slot hold percentage and is the equivalent of the casinos house edge or hand rake in poker and other games. If a slot machine has a pay out percentage of 90%, the amount of money taken by the casino is 10%. So, for every $100 wagered, the casino retains $10 and the machine pays out $90. So, brick and mortar casinos in Las Vegas take an average of $7-$14 per $100 wagered, whereas online casinos only take an average of $3-$5 per $100 wagered. Although this may not seem like an awful lot, it can add up quite quickly.
Which Slot Games Offer the Best Pay Out Percentage?
What Casino Pays Out The Most In Las Vegas Shows
Another aspect of pay out percentages in slot machines is the type of slot that you are playing. Each slot machine features a pay table which shows the probability of winning and the maximum winnings each machine will pay out. Brick and mortar casinos in Las Vegas generally have 3 reel classic slot machines which have a much lower pay out table and heavily favour the house. However, online casinos favour video slot machines with higher pay lines and a much better pay out probability. Slot games which are exclusively available in online casinos such as Thunderstruck II and Jurassic Park allow players to win on 243 lines with a host of features, wild symbols, and special mini games. Other exclusive online slot games such as Piggy Fortunes allow players to play 25 lines at one time, providing an excellent chance of winning on each spin. These online video slots combine a high pay out percentage of 95-98% with a high probability of winning on each spin, making them much more profitable than classic reels in brick and mortar online casinos.
Conclusion
What Casino Pays Out The Most In Las Vegas Restaurants
When considering all the information, there is really no comparison between brick and mortar Las Vegas casinos and online casinos. In terms of pay out percentage, online casinos offer players a much higher chance of winning as the house takes a much smaller percentage of the money. Although brick and mortar casinos offer a different gaming experience with flashing lights, exciting sounds, and a general buzz, it is worth remembering that you are paying for that experience by sacrificing the probability of winning. For those players more interested in skill-games, you can find information on playing in Vegas here.