Las Vegas Strip Casinos Have Thirty-Three Percent Revenue Increase

Casinos on the Las Vegas Strip have been watching their revenue decline over the past several years, and there were concerns as to whether the market would ever turn back for the better. In February, the casinos received a much needed boost, with revenue jumping thirty-three percent.

The Nevada Gaming Control Board released revenue figures from February on Thursday and statewide, revenue was up almost fourteen percent. The Strip was helped by the Super Bowl and the Chinese New year, which both fell in February in 2010.

In February, revenue at state casinos was $946.6 million. That was up from the $831 in February of 2008. On the Las Vegas Strip, revenue at casinos was $568 million, an increase over the $427 million a year before.

"There is little doubt that the Super Bowl and the Chinese New Year drove up revenue figures," said Gaming Analyst Steve Schwartz. "Those are possibly the two biggest events of the year for Las Vegas, and to have them in one month gives the city a much needed boost."

The Super Bowl is the most wagered on sports event in the US and when gamblers want to bet on the big game, Las Vegas is the safest destination. Outside of Vegas, gamblers are left to take their chances with illegal bookmaking operations run in their hometowns, and many bettors prefer to spend Super Bowl weekend in Sin City.

Nevada and New Jersey have been the two main casino destinations in the country, but that has begun to change over the past several years. Other states have increased their casino options, giving residents a reason to stay home to do their gambling.

April 8, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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