Thursday, August 12, 2010

June 2010 Visitation Up - Gaming Down

The numbers are in for June and once again it's a mixed bag with more visitors but less gaming revenue for Las Vegas.

3.1 million people visited the city in June - a 4.3% increase from last June. Despite more people, gaming revenue was down 7.62% on the Strip and a whopping 11.67% downtown.

The obvious thing is that people are coming to Vegas and not gambling. The rock bottom hotel rates could be attracting more frugal people who gamble less or not at all. More and more people are coming to Vegas for the clubs, drinking, shopping, restaurants and pool scene with gaming on the back burner.

Gambling is also available in a lot more places around the country now. Since it's not necessary to go to Las Vegas to gamble anymore I'm guessing a lot more players are deciding to cut back on their Vegas trips and are playing closer to home.

The biggest factor might still be the economy. You need money to gamble, and if people have less money (especially high rollers) that's going to hurt the bottom line.

Sources: Business Week and Nevada Gaming Control Board.