Casinos on the Las Vegas Strip have experienced five straight months of year-over-year declines in gaming revenue. Similarly, gambling establishments in downtown Las Vegas and along the Boulder Strip have seen revenue decreases in three out of the last four months for which data is available.
Across the state, revenue from non-restricted casinos has fallen in four of the past five months, leading to an approximate 2 percent decline in gambling revenue over the period from June to November.
While December’s gaming revenue figures have not yet been published, the prevailing opinion in Las Vegas is that it will likely be another “soft” month.
These recent trends in the industry stand in stark contrast to the economic surge following the COVID-19 pandemic, during which there was a prolonged period of monthly revenue increases. This period culminated in three consecutive years of record-setting gaming revenue. Despite the recent downturn, it is highly anticipated that 2024 will set another annual revenue record.
However, the question remains: does the latest data indicate a weakening in consumer demand for Las Vegas casinos?
