Las Vegas Strip Casino Revenue Tumbles 39%, in Spite of Affordable Hotel Rooms
Nevada’s overall casino earnings totaled 26 percent to $756.8 million, officials said Wednesday. This will hurt tax earnings at a time when virus-related costs are climbing, since gambling supplies a massive share of their state budget.
Las Vegas hotels also have been hurt by their inability to provide live entertainment or sponsor meetings of over 50 individuals. That has led resorts to provide deep discounts, especially midweek. Even the Las Vegas numbers emphasize the problems faced by savings dependent on aviation, with customers still loath to venture much beyond their houses for entertainment. Nevada casinos started reopening June 4, together with restraints on capability. Some properties stay closed. Casino earnings on the Las Vegas Strip dropped 39 percent to $330.1 million in July from a year before, the very first full month possessions were available following the coronavirus shutdown, revealing the town is trying hard to win back clients. Casinos whose guests normally arrive by automobile are seeing powerful company since there are so few other amusement choices open. Gambling earnings in Ohio and Mississippi climbed in July from a year before, buoying the stocks of regional casino operators like Penn National Gaming Inc., which has seen its inventory fly to $55 from below $5 billion in mid-March.
