There are a few factors driving the rally, especially in Las Vegas. With fuel prices up, inflation and supply chain costs going up, these can make the consumer’s wallet more limited and have an impact on domestic travel.”īut two things that can add buoyancy is the return of international travel to Las Vegas for vaccinated foreign nationals in November and the continued climb of business travel and conventions, says Bussmann.

“The two biggest challenges going forward include a potential covid resurgence, which would lead to closures, and the other concern is the U.S. “I don't see it stopping in the short term, but I want to see what happens with the economy,” he says. The state’s record for recording $1 billion-plus in monthly gambling revenue is eight months, which was recorded from November 2006 to May 2007, just before the Great Recession tore through the economy.īussmann says he thinks the recovery will continue cautiously for now. The current seven-month rally is the second-longest streak of $1 billion-plus in monthly gambling revenue collected by the state. Gambling revenue increased 9.4% in September over the same month in 2019. In September, the state collected $1.2 billion in gaming revenue, marking the seventh consecutive month of $1 billion-plus in revenue. Statewide, Nevada is also continuing to hit records. “It shows Vegas is not only back but shows its resiliency.” “We know that there’s a lot of potential as we go forward with the Raiders and the Golden Knights, and then of course, with the Super Bowl,” she said.“It makes sense-there’s been tons of pent-up demand and the third quarter was kicked off with events in Vegas like Garth Brooks, Bruno Mars and the McGregor fight and it ended with the Raiders,” says Bussmann.

“It would actually make a lot of sense to put another property there if the Tropicana is going to come out of the market,” Belarmino said, addressing rumors that a possible Oakland A’s stadium could be built on the iconic Vintage Vegas property. Harrah College of Hospitality, explains why there could be a market for another property in the area- which has become a hotbed for sports and live entertainment, surrounded by Allegiant Stadium, T-Mobile Arena, and Michelob Ultra Arena. Amanda Belarmino, assistant professor of the UNLV William F. No firm decision has yet been made concerning our future plans,” said Executive Vice President of Development at Fertitta Entertainment Jeff Cantwell in a statement to FOX5.ĭr. However, this is just another step in our overall review and planning process. “We were pleased with Clark County Commission’s unanimous approval.

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