..

Las Vegas Strip January Casino Gambling Revenue Falls 2.5 Percent

Written by:
Guest
Published on:
Mar/10/2011

(Bloomberg) - Las Vegas Strip gambling revenue fell 2.5 percent in January in the third straight monthly decline as the city faces an uneven recovery after a record gambling slump.

Revenue declined to $482.7 million from $495 million a year earlier,  Nevada’s Gambling Control said in an e-mail today.

Las Vegas is beginning to emerge from its worst decline on record in gambling and conventions, after betting fell more than 9 percent in 2009 and 2008. MGM Resorts International (MGM), Las Vegas Sands Corp. (LVS), Wynn Resorts Ltd. (WYNN) and Caesars Entertainment Corp., the four biggest Las Vegas-based casino owners, have said the worst has passed.

Revenue for all Nevada casinos fell 0.7 percent to $877.4 million in January, the board said. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, fell 0.4 percent to $761.4 million.

Convention attendance climbed 13 percent in December from a year earlier, ending the year down 0.4 percent, the Las Vegas Convention and Visitors Authority said last month on its website. About 37.3 million people visited the Nevada city in the 12 months through December, a 2.7 percent increase from a year earlier, and average daily room rates at Las Vegas hotels gained 2 percent in 2010.

Passenger traffic at Las Vegas’s McCarran International Airport rose 5 percent in January, according to Clark County Department of Aviation data. Last year passenger traffic fell 1.8 percent. Carriers including United Continental Holdings Inc.’s United Airlines and US Airways Group Inc. have cut flights to the city.

Beth Jenks, Bloomberg News

Gambling News

Video Evidence NFL Players Involved in Poker Game Armed Robbery

Video Evidence NFL Players Involved in Poker Game Armed Robbery

The New York Daily News reports that video evidence, Instagram DMs, and testimony show payoff cover-ups for NFL players DeAndre Baker and Quinton Dunbar tied to an alleged armed robbery that occurred on May 13 in Miramar, Fla.

Can I Bet on Mybookie.ag From Iowa

Can I Bet on Mybookie.ag From Iowa

MyBookie.ag is among the most searched for online sportsbooks on the Web today but there are so many other great options from which to choose from if you live in Iowa

Butcher Facing Federal Gambling Charges

Butcher Facing Federal Gambling Charges

A North Shore butcher tangled up more than a decade ago over accusations of illegal sports gambling now faces criminal charges in federal court, prosecutors announced Thursday.

NJ Halts Bets on Ukrainian Table Tennis Due to Match Fixing

NJ Halts Bets on Ukrainian Table Tennis Due to Match Fixing

The New Jersey Division of Gaming Enforcement on Thursday ordered all sportsbooks to cease taking bets on Ukrainian table tennis.

First Virginia Sports Bets Next Year, FanDuel Expands McAfee Arrangement

First Virginia Sports Bets Next Year, FanDuel Expands McAfee Arrangement

Former Indianapolis Colts punter Pat McAfee Inc. and FanDuel will expand their sports betting and media partnership.

Syndicate