After a two year slump that had Las Vegas casinos despairing that they’d ever see a turnaround of fortune, it was reported this week that gambling revenue on the Strip rose by 2.8% in September. Revenue rose from $506.4 million in September 2009 to $520.6 million in September 2010. In the first nine months of 2010, casino proceeds increased 4.3% overall, said the Nevada Gaming Control Board this week.
Las Vegas gambling tycoons have been expressing cautious optimism that things are looking up for the Gaming Capital of the World. Last week, the CEO of Wynn Resorts, Steve Wynn said: “We’ve seen the bottom in Las Vegas. I don’t know how fast it’s going to get better, but I don’t think it’s going to get any worse.”
This could be seen through quarterly results posted by three of the top gambling groups with a presence in Vegas, Wynn Resort, Las Vegas Sands Corp and MGM Resorts International. This was the second consecutive month of increased wins in Vegas.
The Gaming Control Board said that baccarat as well as sports betting helped casinos register growth in gross wins. According to the press release put out, there has been an increase in statewide gaming win (before taxes and business expenses) to $917.8 million.
Other statistics shown in the report:
* Increases were reported in Laughlin (1.4%) and the Boulder Strip (3.6%).
* Decreases were reported in Mesquite (8.5%), North Las Vegas (6.9%) and the rest of Clark County casinos (1.3%).
* Carson Valley area showed a win of $8.9 million (10.8%).
* South Lake Tahoe fell by 8.2%.
Comments are closed.