Vegas Gambling Revenue Hits All Time Low

Written by:
Guest
Published on:
Jan/16/2018

The Las Vegas gambling industry saw its sharpest decline in revenue ever for 2017.

Generating $26 billion in total revenue, Nevada gaming regulators say it is a new record low for Vegas.

But one shouldn't shed a tear for Sin City.

The gambling hub shattered revenue records in all other areas including hotel rooms, accounting for $6.16 billion (23.6%), food sales, accounting for $3.89 Billion (14.9%), and beverages, making up $1.8 billion (6.9%). 

Casinos generated net income of $1.55 billion from total revenues of $26.17 billion.  This marked the first time total revenues surpassed the $26 billion mark.

Actually gambling, however, did take a hit, taking in $11.11 billion, which was 42.4 percent of total revenue.  That marks an all-time low percentage for the casino industry, based on historical data compiled by the University of Nevada Las Vegas.  The previous fiscal year was 42.64 percent.

By comparison, in 1984, casino gambling revenue represented 61.9 percent.

In recent years, Las Vegas has tried to market itself as more than just gambling and these numbers appear to indicate that campaign is working.

- Aaron Goldstein, Gambling911.com

Gambling News

6th Atlantic City Casino Begins Taking Bets Wednesday

6th Atlantic City Casino Begins Taking Bets Wednesday

Atlantic City’s Golden Nugget casino will become the sixth in New Jersey to offer sports betting.

Malta Will be Focus at Inaugural European Gaming Congress (EGC 2018)

Malta Will be Focus at Inaugural European Gaming Congress (EGC 2018)

Although Malta is recently in the headlines for becoming “The Jurisdiction Of Choice For Blockchain Businesses”, we must not omit the fact a new Gaming Act has come into force starting August 1, 2018.

Robust Numbers for NJ Sports Betting in July

The July numbers are in and legalized sports betting has been a huge success so far in New Jersey.

Disney has Just Dumped Another $5 Million Into Anti Gambling Effort

Disney has Just Dumped Another $5 Million Into Anti Gambling Effort

If Disney had its way, there would be no gambling in the Sunshine State.  The Seminoles, on the other hand, want to control most of it, but the voters could have the ultimate say

How a Finnish Millionaire Lost $35M Worth of Bitcoin in a Gambling Scam

Aarni Otava Saarimaa was encouraged to invest in cryptocurrency Dragon Coin

Syndicate