In October, a mass shooting took place in Las Vegas, Nevada near the Mandalay Bay Casino, leaving 58 individuals dead and many more wounded. Since that time, casinos in Las Vegas have been unable to see a gambling win increase. Visitor numbers seem to be down which has lead to a continual decrease in gambling revenues for the casinos in the region.
January was yet another month in which the Las Vegas Strip saw a decrease in casino win. Gaming fell 8.9% when compared to January 2017 for a total of $554.7m earned. The Nevada Gaming Control Board reports showed that the 39 casinos located in and around the strip have continued to see a decline in earnings since October.
Tourism fell just over 4% in October with visitation numbers continuing to go down. However, visit totals were already dropping before the mass shooting took place in October. So, is Las Vegas losing its appeal overall or are gamblers avoiding the region due to the horrific incident that took place during the country music festival?
Breaking down the revenues game by game, the best option for casinos is always baccarat. However, the game has suffered over the past few months. The game has provided casino with earnings, but even baccarat is 28% down when compared to the same time period last year, covering the last three months. Other games struggled as well but baccarat seemed to be the hardest hit, particularly if you consider the game is one that is played by high rollers.
It seems Las Vegas is trying to make a change as to what entertainment is on offer. Since 2016, Las Vegas gaming operators have been looking at other ways to bring in visitors, including a new eSports arena, skill-based games, etc. Times are changing, and the numbers prove it. Non-gaming revenue categories like food, drink and hotels are all on the increase for the area.
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