Vegas Gambling Industry Veteran Backs Growth to Continue
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VSO News caught up with gaming industry veteran and SCCG Management CEO Stephen A. Crystal to get his take on the resurgence of Las Vegas’ casino industry after a difficult 2020.
Vegas is back in the money after a turbulent year in 2020. September saw the state's gaming revenue exceed $1bn for the seventh month in a row. VegasSlotsOnline News caught up with Vegas gambling industry veteran Stephen A. Crystal again this week to get his view on the market's resurgence.
Despite its poor performance in 2020, you were always bullish about the Vegas gambling market’s ability to fight back. Back then we were starting to see some of these trends that have now taken root. Vegas has always been a leading indicator.
Vegas has experienced a substantial increase in revenue since the beginning of the year. There are five main reasons why. People are back out spending money because of how much Vegas has to offer. Live events like Electronic Daisy Carnival music festival, NFL games, headliners and concerts are also back. The group travel is also returning. Even with the mask mandate, people still feel freer in Vegas.
Sports betting revenue increased 37% month-on-month in September. Vegas has opened up to 20+ states and educated a growing number of people in betting. The more people participated in local gaming and then came to Vegas to do their favorite form of gambling, it lifted Vegas as well.
Vegas gambling industry veteran backs growth to continue. He thinks the customer is going to demand more for the dollar. This will make things tighter in terms of the profits companies can make. For the next year at least, he thinks Vegas will see continued growth as things open up and larger groups continue to arrive in Vegas.
