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Third straight month of Vegas decline disappoints companies

Las Vegas Strip gambling revenue fell 2.5% in January in the third straight monthly decline as the city faces an uneven recovery, reports the Bloomberg news agency. Revenue declined to $482.7 million from $495 million a year earlier, Nevada's Gambling Control Board figures show.

Nevertheless, the feeling is that Las Vegas is beginning to emerge from its worst decline on record, where betting fell more than 9% in 2009 and 2008.

MGM Resorts International, Las Vegas Sands Corp., Wynn Resorts Ltd. and Caesars Entertainment Corp., the four biggest Las Vegas-based casino owners, have all said the worst has passed.

Revenue for all Nevada casinos fell 0.7% 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% to $761.4 million.

About 37.3 million people visited the Nevada city in the 12 months through December, a 2.7% increase from a year earlier. Clearly not all were gamblers.

Passenger traffic at Las Vegas's McCarran International Airport rose 5% in January, according to Clark County Department of Aviation data. Last year passenger traffic fell 1.8%.

Source: InfoPowa News

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