Analyst: Events will make 2022 bigger Las Vegas revenue year than 2021
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Analyst predicts that high-profile events tied to the NFL will boost visitation in the first half of the year. Daniel Politzer predicts a 20 percent increase in Las Vegas Strip gaming revenues in 2022. Politzki's predictions come as Strip casinos and the overall Nevada gaming market are setting record revenue totals through 2021’s first 11 months. December”s numbers are expected to be released at the end of January. Nevada casinos have recorded through November their third-highest gaming revenue year, $12.3 billion. following 2020, when the pandemic sent the state s gaming numbers to their lowest totals since the 1990s.
Analyst: Events will make 2022 bigger Las Vegas revenue year than 2021. Politzer cited the NFL Pro Bowl game at Allegiant Stadium, the National Hockey League All-Star game and the three-day NFL Draft as catalysts for increased visitation. Bussmann agreed, commenting that weekends when the Las. Vegas Raiders had home games helped raise average daily room rates on the Strip.
Convention business picking up. MGM Resorts expects a full convention recovery later this year. Wynn Resort is pacing “well above 2019 levels” thanks to its newly expanded convention facilities. Caesars’ group and convention bookings for the second half of 2021 were pacing 18 percent above the first half. LVCVA said hotel occupancy through November was 66.3 percent. The average Las Vegas Strip occupancy was 79 percent during the last half 2021.
