Las Vegas: significant drop in revenues for Nevada casinos

The decrease in revenues at The Strip casinos continues with a loss of 12.4% during the month of August. Gambling establishments have seen their profits gradually drop and compared to last year, the situation is even more worrying than ever.

An attendance rate that is not necessarily the cause

The Nevada Gaming Control Board recently released a report showing declining numbers for the second month in a row. Indeed, Nevada casinos had lost at least 5.75% of their income unlike the previous year. For the month of August, the establishments pocketed the sum of $ 913 million. An unconvincing amount if we compare to August of 2017 with its 989.5 million. You should know that gambling houses generate fairly substantial profits. Given the information gathered, this decline is by no means a surprise since several factors are at the origin of this phenomenon. For example, the lack of enthusiasm of casino operators and major investors following the poor balance sheets of the third quarter. According to Howard Stutz at CDC Gaming Reports, the results have been catastrophic and expectations have not been met. For their part, specialists believe that attendance in the city remains rather stable and the main cause remains the absence of a major event that could arouse the interest of potential visitors.

According to the Las Vegas Convention and Visitors Authority, the number of visitors between August 2017 and 2018 fell only 0.2%. The figures show 3.56 million tourists who took to the streets of Sin City last month. Moreover, the leaders of the Las Vegas casinos are clearly not worried about this sharp drop. However, they want to offer services that meet expectations and innovate in order to increase their profits. Other casinos in Nevada have succeeded in this bet, for example, in Reno, some establishments have accumulated more than 7.3% in August, enough to encourage other operators in the area.