Events and entertainment to stay at the top

Revenues for the 28th month in a row above $1 billion. This is the state of health of the casinos in Nevada, to which those in Las Vegas contribute to a very large extent.
This is also the calling card of a summer season that once again promises to break records, not only for the Sin City but for the entire US state.
But hw do you explain this positive trend? Is it a surprise or a simple confirmation of what was expected? We entrust the analysis to Michael Lawton, senior research analyst of the Nevada gaming control board.

“First off, no we did not expect to see this level of gaming win coming out of the pandemic. There are several factors that have contributed to the record streak of monthly gaming win totals in excess of $1.0 billion that Nevada is currently on. These include steady demand for gaming-related activities by resilient customers whose behavior has remained consistent in the face of several challenges, which include record levels of inflation and fuel prices. Additionally, Nevada has benefited from the surging demand for leisure travel domestically and internationally.
Gaming win totals are also being supported by a healthy local economy experiencing record employment levels.
Lastly, when looking back, you have to mention the Las Vegas Strip and its significant impact on the gaming revenue growth Nevada has been experiencing recently. To put it into perspective, during the last 12 months, the Las Vegas Strip has accounted for 92.1% or $630.6 million of the $684.9 million increase in gaming win the state has recorded during that period.
So what is clear is the Strip is the driving force behind these recent numbers and the reason in my opinion as to what is sustaining the record gaming win amounts are the multiple signature special events which have occurred during this period as the Sports and entertainment calendar has been incredible in its ability to drive gaming activity on the Strip.
These events have included numerous concerts, residencies, music festivals and multiple high profile sporting events”.

How does a city like Las Vegas firmly remains at the top of gaming destinations over the decades and how is its tourist offer completed, beyond gaming in the strict sense?

“Historically, the Las Vegas Strip has been able to offer non-gaming amenities which are unrivaled. In fact non-gaming revenues have accounted for more than 50% of total revenues for 24 consecutive years going back to 1999. These non-gaming amenities include world class accommodations, unparalleled options for dining, shopping and night life and most importantly, the Las Vegas Strip is the entertainment capital of the World. Over the past few years, the Las Vegas Strip has continued to evolve and has expanded its offerings to include a sports and entertainment complex with the addition of the T-Mobile Arena and Allegiant Stadium along with professional sports teams including the Las Vegas Golden Knights and the Las Vegas Raiders.
These venues and the events they offer have been absolute game changers in terms of their ability to drive demand for the Strip. Even more compelling is that there is more coming with the 17,500 seat MSG Sphere opening later this year along with F1 on the strip and of course the Super Bowl in 2024."