Analyst: Las Vegas Casinos Facing Revenue Dip in 2023

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Review Journal

Las Vegas locals gaming market; results from Boyd Gaming, Station Casinos

As first-quarter earnings call season hits its peak, gaming industry members are watching several Southern Nevada operators to get the pulse on the Las Vegas locals gaming market. Wall Street analysts were surprised by financial results announced during Boyd Gaming's first-quarter earnings call on April 25. Industry watchers say the company could…

Industry ・ 06 May 2024

Northern Nevada Business Weekly

Milder weather in January boosts Reno casinos

Northern Nevada's relatively mild weather in January kept the state's casino industry from reporting its first monthly gaming revenue decline since last June. While Strip gaming revenue declined by almost 3.8 percent in January, Reno casinos saw a 55 percent increase for the month to almost $65.4 million. Washoe County as a whole saw a 35.4 percent…

Finance ・ 14 March 2024

The Nevada Independent

Nevada casinos set a single-month revenue record of $1.4B during July

So much for a gaming revenue slowdown. Nevada's casino industry set a single-month record in July with more than $1.4 billion in casino earnings, fueled by elevated revenue from slot machines statewide and the highest hold percentage on baccarat wagers by Strip casinos in 20 years. After seeing statewide gaming revenue decline in three out of the…

Finance ・ 31 August 2023

iGaming Business

More bullishness for Las Vegas in 2023 after records set in 2022

The optimism started with a strong finish to 2022 that had Nevada breaking its 2021 gaming revenue record by the time November ended. By the end of December, Nevada had recorded 22 consecutive months in which gaming revenue exceeded $1bn. The 2022 figure of $14.8bn was 10.5% higher than in 2021. But what topped it off was how the Strip, in one of…

Travel ・ 20 February 2023

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Review Journal

Strip comes in No. 1 for commerical casino business in 2022

The nation's commercial casinos hit record revenue in 2022 with the Strip, once again, keeping its place in the top spot, according to the American Gaming Association. The casino industry trade group reported Wednesday that gross gaming revenue reached $60.4 billion, up 13.9 percent year over year - beating the previous record of $53 billion in…

Industry ・ 21 February 2023

Gambling News

Fitch Ratings Updates 2023 Outlook for Las Vegas Strip Casinos

Indeed, you can have too much of a good thing, and Fitch Ratings Services predicts that Las Vegas Strip casinos might have reached their peak in 2022. The 2023 outlook analysts had for Las Vegas initially had gaming as a stronghold but it seems growth rates have been somewhat unsustainable. Following the 2022 Global Gaming Expo, Fitch released an…

Land-based ・ 03 November 2022

The Nevada Independent

Nevada casino revenue drops in July over ‘very high bar’ set last year

Strip casinos recorded their second highest-ever single-month revenue total during July, confounding predictions that the nation's largest casino market was facing economic challenges. The primary reason July's $773.4 million in gaming revenue wasn't a record? It was up against July 2021's record total of $792.6 million. Instead, the Strip in July…

Land-based ・ 30 August 2022

Review Journal

Record revenue reported by nation’s commercial casinos

Commercial gaming in the United States hit a quarterly record for April, May and June, putting the U.S. on track for its best year in history, the American Gaming Association reported Thursday. Nationwide commercial gaming revenue totaled $14.81 billion for the second quarter, beating the fourth quarter of 2021 by 3.3 percent. With $29.16 billion…

Finance ・ 26 October 2022

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eTurboNews

Gamblers lost $5.3 billion to US casinos in March

The American Gaming Association (AGA), the US national gambling industry's trade group, announced today that the commercial casinos in the United States won over $5.3 billion from gamblers in March of this year, the best single-month total ever. The previous US casinos' record month was July of 2021 with $4.92 billion. US casinos collectively also…

Land-based ・ 11 June 2022

AGB - Asia Gaming Brief

U.S. gambling fires ahead, but inflation concerns crimp U.K.

The U.S. gambling industry continues to power ahead, despite rising uncertainty over the economy, though the U.K. has started to see a slow down as inflation concerns gain pace. As Asia's gaming jurisdictions gradually reopen, it's interesting to note trends in other parts of the world as they have emerged from Covid, which shut down casinos but…

Finance ・ 30 May 2022

Bangkok Post

Casinos Just Had Their Best Month Ever

Gambling industry reports record $5.31 billion in revenue for the month of March Gamblers spent $8.19 billion on slot machines during the first quarter, a 19% increase from the same period a year earlier, according to the American Gaming Association. (Photo: AFP) Gamblers, eager to get back to slot machines and blackjack tables, have shrugged off…

Gaming Authorities ・ 14 May 2022

Review Journal

Nevada gaming wins big in March, US casinos see best month ever

ATLANTIC CITY - Inflation may be soaring, supply chains remain snarled and the coronavirus just won't go away, but America's casinos are humming right along, recording the best month in their history in March. The American Gaming Association, the gambling industry's national trade group, said Wednesday that U.S. commercial casinos won more than…

Valentine's Day ・ 13 May 2022

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Forbes

Nevada Hits $1 Billion In Gambling Revenue For 12th Consecutive Month

N evada recorded $1.1 billion in gaming revenue in February, marking the 12 consecutive month the state brought in more than $1 billion from its casinos. February also set an all-time win total for the month, $1.07 billion in 2013 was the previous record, and revenues from The Las Vegas Strip hit its third-highest level in history. According to the…

Winnings ・ 30 March 2022

CBS Detroit

Gambling Brings In $53 Billion, Surging To New Records Last Year

Covid ・ 17 February 2022

ABC 17 News

Gambling surged to new records last year

By Jordan Valinsky, CNN Business Here's more proof that the house always wins: In 2021, America's gaming industry had its highest-grossing year ever. Again. The industry rolled in $53 billion in revenue last year - breaking the previous industry record by more than 20% registered in 2019, according to the American Gaming Association. Last year's…

Covid ・ 18 February 2022

The Nevada Independent

Analyst: Events will make 2022 bigger Las Vegas revenue year than 2021

As the Las Vegas resort industry awaits the full return of its convention and meeting business, one gaming analyst said high-profile events tied to the National Football League will boost Southern Nevada visitation in the first half of the year, despite the recent national spike in COVID-19 cases. Daniel Politzer, who follows the gaming industry…

Finance ・ 13 January 2022

Review Journal

AGA confirms record 2021 gaming revenue from nation’s casinos

Nevada has produced its share of gaming revenue records this year, so it stands to reason that the American Gaming Association is indicating commercial gaming revenue nationwide will reach its highest level ever in 2021. And that's without all of the numbers from November numbers in and nothing yet from December. The AGA on Wednesday affirmed that…

Finance ・ 09 December 2021

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…

Covid ・ 01 December 2021

Northern Nevada Business Weekly

Nevada casinos post 7th straight billion-dollar revenue month

LED signs of the Hard Rock and Montbleu casino/hotels in Stateline thank first responders on Sept. 1, 2021.Photo: Christian Monterrosa / The Nevada Independent Howard Stutz | The Nevada Independent California's wildfires were the primary culprit in diminishing activity and business at casinos on the north and south shores of Lake Tahoe during…

Land-based ・ 01 November 2021

Forbes

The Las Vegas Strip Reports $2.1 Billion In Gambling Revenue, Highest Quarterly Win In History

L as Vegas is still on a winning streak. Casinos on the Las Vegas Strip set an all-time quarterly record during the third quarter by collecting $2.1 billion in gambling revenue, according to numbers reported by the Nevada Gaming Control Board on Wednesday. The Strip beat the previous record of $1.8 billion, which was set during the fourth quarter…

Land-based ・ 27 October 2021

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The Nevada Independent

Indy Gaming: Fitch Ratings revises its outlook toward Las Vegas casino recovery, sees rebound by 2023

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. Please to sign up and receive Indy Gaming in your inbox. Fitch Ratings gaming analyst Colin Mansfield waited in line patiently to sample a specialty item offered by Boon Tong Kee, one of the…

Land-based ・ 21 July 2021

The Nevada Independent

Gaming slowdown? Not in Nevada as casinos head toward a record

Nevada could shatter last year's record-breaking gaming revenue totals in just 11 months. October marked the 20th straight month of $1 billion or more in state gaming revenue, according to figures released Tuesday by the Gaming Control Board. Statewide, gaming revenue sits at $12.3 billion for the first 10 months of 2022, more than 12 percent above…

Finance ・ 29 November 2022