BUSINESS

Nevada proving the doubters wrong

TAGs: Las Vegas, Nevada

las vegasGaming industry revenue in the casino business hotbed of Nevada rose for the third month running as the state begins to prove the doubters wrong. Compared with July last year, gambling industry revenue rose by 3.7% to $860.1m thus continuing a trend that has been present for the past few months. It was a lot less than the double-digit gains seen in the two months before but it was more than was made last month that saw a figure of closer to $855m. You only have to look at the fortunes of Atlantic City to recognize just how significant this is.

The Nevada Gaming Control Board also reported that revenue on the Las Vegas strip was up 1.6% to $468.5m compared with the previous year.

The increases in gaming revenue could be down to the amount of arrivals into the casino business hotbed rising in recent months. It meant McCarran International saw an increase of 4.9% and international passengers rising by 17.6%. They have been able to take advantage of cheaper room rates in the city in addition to the everlasting thirst amongst huge swathes that still yearn for nothing but a trip to Sin City.

August has been a challenging month for many companies on the strip as they fought off stock market woes to contribute towards what is an impressive set of figures for the state. They will hope that the trend continues as we enter the colder winter months and be mindful that the decrease in growth from double-digit to single-digit could be a sign of things to come.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com