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VEGAS REVENUES DOWN ANOTHER 2.5 PERCENT IN JANUARY
Posted 3.11.11 : VEGAS REVENUES DOWN ANOTHER 2.5 PERCENT IN JANUARY
Third straight monthly decline disappoints gambling companies
Las Vegas Strip gambling revenue fell 2.5 percent in January in the third straight monthly decline as the city faces an uneven recovery, reports the Bloomberg news agency.
Revenue declined to $482.7 million from $495 million a year earlier, Nevada’s Gambling Control Board figures show.
Nevertheless, the feeling is that Las Vegas is beginning to emerge from its worst decline on record, where betting fell more than 9 percent in 2009 and 2008.
MGM Resorts International, Las Vegas Sands Corp., Wynn Resorts Ltd. and Caesars Entertainment Corp., the four biggest Las Vegas-based casino owners, have all said the worst has passed.
Revenue for all Nevada casinos fell 0.7 percent to $877.4 million in January, the board said. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, fell 0.4 percent to $761.4 million.
About 37.3 million people visited the Nevada city in the 12 months through December, a 2.7 percent increase from a year earlier. Clearly not all were gamblers.
Passenger traffic at Las Vegas’s McCarran International Airport rose 5 percent in January, according to Clark County Department of Aviation data. Last year passenger traffic fell 1.8 percent.
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