Downtown Las Vegas Continues Hot Streak, Nevada Casinos Top $1 Billion in Revenue
Posted on: March 1, 2017, 04:00h.
Last updated on: March 1, 2017, 02:20h.
Downtown Las Vegas is on a roll, and the district situated north of the famed Strip is showing no signs of slowing down anytime soon.
Thanks largely to the Fremont Street Experience, casinos in the downtown area saw their gaming revenues jump more than 32 percent in January compared to the same period in 2016. The 13 venues generated $55.5 million in income, and played a substantial role in Nevada’s statewide win climbing 12 percent.
The Silver State collectively topped $1 billion in gaming win, officially coming in at $1.04 billion. The Strip was responsible for the lion’s share, with the main drag pulling in $532 million. Clark County as a whole increased 14.3 percent.
The past month marked Nevada’s best 30-day performance since February of 2013. The last time the state eclipsed $1 billion was last July.
“It’s a nice sign that we recorded a billion twice in the last seven months,” Nevada Division of Gaming Control Board Research Analyst Michael Lawton told the Las Vegas Sun.
Las Vegas, as well as casinos throughout the state and across the country, is in active pursuit of the millennial. Casinos and resorts are trying to pinpoint their precise habits, and what they’re willing to spend money on when it comes to gambling.
The Strip’s bigwigs need not look far for one example.
The Las Vegas Review-Journal reports that the El Cortez has been successfully attracting a younger crowd to its floor recently via lower table minimums and dirt-cheap drink specials and free beer for table game patrons. A rep for the casino said they aren’t specifically going after the millennial, but simply adhering to what a growing percentage of their guests are looking for.
Fremont has long been a blue-collar destination for some so-called “Middle America” Vegas visitors, but younger travelers are also taking a liking to the cheaper thrills the district has to offer. And venues in the area are more than ready to cater to their needs.
Las Vegas’ first eSports stadium opens this week at Neonopolis downtown. Competitive video gaming is expected to become a $1.9 billion industry by next year, and Sin City wants to play host to some of the more marquee events.
For the fiscal year 2016, downtown Las Vegas outpaced the rest of the state in terms of percentage gain. The bustling entertainment hub grew 6.1 percent, while Nevada as a whole was up just 1.3 percent.
In addition to trying to bring the millennial demographic to Nevada, Las Vegas is also trying to more properly market its attractions towards the Chinese. Last weekend, the city’s Convention and Visitors Authority hosted about a dozen general managers of leading travel agencies in China.
The tour was coordinated with Hainan Airlines, a Chinese operator that recently began nonstop service from Beijing to McCarran International.
The Lucky Dragon, the Strip’s first Chinese-themed casino, opened last fall. And Genting Group is readying construction on its $4 billion Asian-themed Resorts World property.