Homepage / Las Vegas News
E-Mail News Alerts
Get breaking news and daily headlines.
Browse all e-mail newsletters
Related To Story

Visitors Return, But Spend Less In Vegas

Gaming Revenues Slump Amidst Improved Visitor Numbers

POSTED: 1:32 pm PST November 10, 2009
UPDATED: 2:02 pm PST November 10, 2009

It turns out there are people taking advantage of bargain room rates and casino comps in Las Vegas.

They’re just not willing to risk their spending money on the slot machines.

The Las Vegas Convention and Visitors Authority reported a slight increase in visitors during September, a sign the recession hasn’t entirely worn down America’s need for a vacation.

Survey: When Will Vegas Rebound From Recession?

More than 3 million people visited Las Vegas during the month, up 4.3 percent from the same time last year. Convention attendance was also up 12.2 percent from September 2008.

Much of the improved visitor numbers can be attributed to Las Vegas resorts willing to fill rooms for less money. Daily hotel room rates in September were down 19 percent from a year ago, to an average $91.18.

Gaming Slump Continues

However, gaming revenues fell for the 21st straight month, according to the state Gaming Control Board, which said casinos statewide won $911 million in September. That’s a nearly 9 percent decrease from the previous year.

The monthly casino win is closely watched by state lawmakers, who are struggling with dwindling tax revenues amidst the recession. Nevada collected $54.3 million in taxes in September, nearly 14.6 percent less than the same month last year.

The silver lining, albeit razor-thin, was the improvement from August of this year, when the gaming win was $847 million.

Casino Companies Look To Future

Some economists warned earlier this year that gaming could be among the last industries to see a rebound from the recession.

Those fears prompted Boyd Gaming to announce last week that its $4.8 billion Echelon project would remain on hold for at least three to five years.

Only the massive steel frame of the resort complex has been built and stands idle on the site of the old Stardust resort.

Related Link: One Month Later, TIME Talks Hope For Las Vegas

Meanwhile, MGM Mirage’s CityCenter project has been tagged as the lone bright spot for the Las Vegas economy.

In addition to creating 12,000 jobs, the project marks what could be the last major resort openings for several years. The first phase of CityCenter, which includes the ARIA resort, Mandarin Oriental Las Vegas and Crystals retail complex, are due to open next month.


Links We Like

Sponsored Content
Feeling bloated or uncomfortable after eating? Try these five recipes and find out why they are so good for digestion. More

Find out what the locals say about the perks and drawbacks of living in 5 of the very best beach towns. More

To guard your job security, be sure to avoid these 10 common pitfalls. More

Don’t get suckered into spending more cash than is necessary to fix your car. Here are 5 maintenance procedures to avoid. More

Sponsored Links

Real Estate Information

Desktop Weather 24/7