For the four years up to 2013, Nevada casinos and gambling revenues had seen a small but steady rise, however that trend was bucked in 2014 as the state of Nevada has recorded a win of just over $11 Billion for the year, a slight drop on the previous year. Numbers released this January 2015 show that the Nevada winning streak is over, however not by a great deal and maybe not for long. That $11 Billion win figure represents a 1.1% drop over the previous year, however the numbers from Las Vegas make for an interesting read.
The good economic conditions in the US are leading many observers to believe that this is just a slight road bump, and in fact when the numbers are broken down, they paint a slightly different picture. Revenues in Downtown Las Vegas were actually up by 2.1% with a $511.4 win, however the Las Vegas Strip saw a drop of 2.1%. Sports betting in Vegas saw a large increase with a huge 12% rise in handle.
The year overall is not bad at all, but December numbers were low with revenues across the state as a whole down by 8%, month on month, with the Strip being down 16.4% which makes it the fifth consecutive month of declining revenues. Plenty of people visited Las Vegas last year, in fact a record number of 41.1 Million people flocked to Sin City, however there’s a shift in the reasons for their visits and Las Vegas Strip casinos are continuing to evolve, to become less reliant on gambling revenues and more focused on the tourism activity in general. Vegas Strip casinos are changing and David Schwartz of the University of Nevada Center for Gaming Research believes that the significant factor is that more people are actually visiting Las Vegas. The main concern for many Las Vegas Strip casinos is what to do with those record numbers of visitors.