Las Vegas Strip Casino Revenue Climbs Again
Las Vegas
Revenue gained from gambling on the Las Vegas Strip has climbed for a second month, leaving financial analysts to suggest the turbulent gambling industry in the city may be stabilising. Casinos on the Las Vegas Strip, which have been hit hard by the economic downturn, have reported that gambling revenues rose by 5.9% percent in December, the second monthly increase on revenues. The Nevada Gaming Control Board has reported that revenues rose to $502.2 million in December, although 2009’s yearly revenue is down by nearly half a billion dollars, when compared with 2008’s $6.13 billion gained in gambling revenues.
It’s believed that the revenue increase may be down to baccarat winnings, particularly at the new Aria Casino, which is part of the CityCenter complex. Whilst casinos on the strip are reporting revenue increases, revenue at all of Nevada’s many casinos fell by 3.2% to $859.3 million. Overall visitor numbers to Las Vegas were also down in 2008, which has led the Las Vegas McCarran International Airport to cut flights due to decreased passenger demand. Room rates at Las Vegas hotels have also tumbled 22%, to an average of just over $92 per night.
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