Las Vegas casinos see billion dollar revenue in March
It looks like great news for Las Vegas casinos and their gaming revenue! Nevada reported earlier that their revenue had soared 72%, making it $1.1 billion in March.
This is fantastic news, considering the pandemic has halted the occupancy of casinos to 50%. The revenue totaling 1.066 billion is a significant improvement considering February revenue was reported at $772 million.
These numbers show that Las Vegas casinos and the market is returning to being profitable again. The Las Vegas strip casinos witnessed the gaming win increase to $501.5 million. This is a jump of 67% for March. Caesars entertainment and the MGM Resorts International both own most of those strip properties.
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In addition to the rise, local markets rose too. North Las Vegas was up 17% from the year before. Boulder strip also increased 35% in March.
Boyd Gaming, which owns eight different properties in the Las Vegas Metropolitan area, will see a jump too. It looks as if more and more casinos will be increasing their revenue. The gaming board is letting many casinos in Clark County start operating at 80% capacity. This will begin on May 1st.
Las Vegas Is Ready For Tourists
With the new revenue numbers out, Las Vegas has put out a new advertising campaign as well. Downtown Las Vegas and the casinos in Las Vegas are planning for a busy summer.
The campaign wants to bring visitors back by letting everyone know they are ready for you. Tourism is low since the pandemic, but they are showing promising signs of tourism picking back up.
Sports Betting in Vegas
Another way that Las Vegas revenue has risen in March was sports betting in Vegas. March Madness is a primary reason for the increase in sportsbooks.
Nevada did near-record sports betting in March. Nevada sportsbooks won $41.8 million on the March Madness tournament alone. March Madness is a great way to bring in more revenue since the Las Vegas casinos were slower this year.
This goes to show that the rebound from the pandemic is starting to move in the right direction. With sports betting on the rise, there are still many places and entertainment that the Las Vegas casinos offer.
Las Vegas Strip Is Alive Again
Las Vegas resorts and casinos are showing that they are gaining momentum in coming back alive. The Golden Nugget, which is on Fremont Street, has a new owner, and they have remodeled to attract tourists.
They offer 2,300 rooms and suites and a casino that includes table games, slot machines, video poker machines, a poker room, race and sportsbooks, and a spa and salon.
Who could forget Mandalay Bay? Carlos Santana will be back for his residency this summer at the House of Blues. Gaming includes table games, craps, blackjack, roulette, slots, and more.
The MGM Grand is also ready for tourists with great games that include high-limit slots. One of the best Las Vegas casinos is the Caesars Palace. Caesar’s Palace offers 185 table games,1324 slot machines,18 sportsbook TVs, and many actions.
Some of the table games include blackjack, roulette, craps, high stakes poker, and more. Caesar’s Palace is a casino and resort that are offering deals for visitors all around.
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Las Vegas Rebounds
This is a great time to celebrate with Las Vegas on their revenue increases. For March, every category at the casinos has increased.
Sports betting alone increased, and mobile sports betting too, accounting for 60.1% of the bet. Casinos in Las Vegas have won more in all games since March 2020. These casinos won more in all competitions from last March. Even the penny slots saw an increase of $323.8 million.
The Las Vegas casinos alone won $501.4 million in March. Last March, they were down 67.2%. This is a significant increase in one year and with the pandemic and casinos not at capacity.
Since the pandemic began, most if not all of the Las Vegas casinos have been hit hard. Casinos are dependent upon tourists, especially visitors who are there for work. Of course, the casinos offer a fun time for anyone.
Las Vegas depends on conventions as well, and when the pandemic happened, this decreased dramatically. There are always the regional visitors that come to play the casino games, but that does not amount to the money and tourists they haven’t seen since the pandemic began.
Las Vegas will begin to see more and more tourists and start getting back to where it was before the pandemic began. It will take some time for the traffic to come back.
Gaming numbers will grow as the season begins, and when the casinos are back at capacity, Las Vegas will thrive like never before.
Entertainment in Vegas
Since the pandemic, entertainment took a plunge, but now that the casinos, resorts, and hotels are beginning to open up more capacity, there have been more and more acts announcing their return.
In July, UFC 264 will be live from Las Vegas. When tickets went on sale, they sold out in seconds. The fans and betters will be in full force. It has also been quite some time that UFC has had a big audience too.
Carlos Santana announced he is returning to his residency as well as many other performers. The Cirque du Soleil has announced that they will reopen at Treasure Island.
Katie Perry, Celine Dion, Carrie Underwood, Bruno Mars, Luke Bryam, Tiesto, and more plan on returning to the city that never sleeps as well. Dave Chapelle has also announced he will be performing in Vegas too.
Summary
To sum it all up, Las Vegas, its casinos, and sports betting revenues have seen an increase in March. Since the pandemic, Las Vegas has been one of the hardest-hit areas, especially when the city runs off of hospitality, entertainment, and nightlife.
Finally, Las Vegas shows signs of life after over a year of quarantining and job losses everywhere. The state of Nevada hopes to start to bring more and more visitors in from all over with their new tourist advertising.
So far, it looks like Las Vegas may be getting closer and closer every day. By May, the casinos will be open at 80%, and in June, the gaming commission hopes for 100%, so everyone can get back to normal and see what all Las Vegas has to offer.
