..

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

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