Las Vegas leads a strong comeback for Nevada casinos: Travel Weekly
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The streak through September is one short of the record eight-month stretch set in late 2006 and early 2007. The casino floors are returning to and exceeding pre-pandemic levels without higher-spending international visitors throwing the dice yet.
Third quarter of 2013 was the best-ever for Las Vegas Strip casinos. Prof. Anthony F. Lucas says the increase is due to the pandemic relief and the recently passed infrastructure bill. 80% of casino revenue comes from 20% players. The farther you travel, the more you're worth as a player. The government's infusion of capital into the economy has benefited the hard-goods sector and travel and gaming industries. It's surprising that the casino revenues are so high, considering they don't have a lot of international players, he says.
There are challenges ahead for casinos. Uncertainty about Covid-19 and inflation, rising fuel costs, supply-chain issues, finding employees and other issues are also challenges. Lucas hopes the casino win streak won't diminish the pandemic's lessons in executive offices in Las Vegas resorts. "It's going to rain. You're going have a rainy day, so to speak. A strong balance sheet is the thing that's gonna get you through it."
