Majestic Research

Barron’s Online

Lucky Seven on the Strip

By Robin Goldwyn Blumenthal
Published: July 16, 2007

From grooms to gamblers, people believe the number seven has mystical significance. Nowhere is that more apparent than in that mecca of superstition—the Las Vegas strip.

Saturday, July 7—or the once-in-a-century 07/07/07—not only was a date of choice for huge numbers of couples tying the knot but had a salutary effect on Las Vegas takings, if not necessarily winnings.

For casino operators, July 7 “seems like it could have been the strongest Saturday so far” this year, says Matthew Jacob, a senior casino and leisure analyst at Majestic Research. According to proprietary data, he notes, game usage, a function of attendance and play levels, was up 47% on that date compared with July 7 a year ago, which fell on a Friday.

Even compared to July 8, 2006, a Saturday, game usage rose a tidy 22%, indicating a “significant increase in gaming activity because of the 07/07/07 Effect,” Jacob wrote.

Casinos offered promotions tied to the number seven: Harrah’s Paris Las Vegas gave seven couples chits for an overnight stay, and $777 burgers, with a side of Dom Perignon and lobster. But such perks may have been unnecessary—Jacob speculates that even gamblers who know the odds are usually against them may have tried to test their luck on the day of triple sevens.

The analyst said game usage was strong at Harrah’s, MGM Mirage and Las Vegas Sands, though the take at Wynn Resorts appears to have been down, perhaps because it targets more high rollers. He concedes revenue doesn’t always track game usage, but it’s “a positive indicator.”

With any luck.