Las Vegas revenue and visitation trending
Data from the Nevada Gaming Control Board and the Las Vegas Convention and Visitors Authority indicates that the total gaming win for Clark County per visitor has declined since 2007. Gaming win per visitor declined 5.7 percent in 2008 compared to 2007, from $277 per visitor in 2007 to $261 per visitor in 2008, and 7.0 percent in 2009 compared to 2008; from $261 per visitor in 2008 to $243 per visitor in 2009. This downward trend has continued through year-to-date November 2010, but at a slower rate of decline. The 1.4 percent decline in Clark County gaming win per visitors in the year-to-date period through November 2010 is indicative that the bottom of the downturn has potentially been reached. The historical gaming win, number of visitors, and gaming win per visitor for Clark County for 1980 to November 2010 are shown in the accompanying table and chart.
On a more positive note, in 2010, February, August, September, and October all exhibited gaming revenue growth over the respective month in 2009; with a net 1.2 percent growth for the year-to-date period ending November 2010 compared to the same period in 2009, which does bode well for potential future revenue growth.
Excerpted from Las Vegas Casino and Hotel Market Outlook 2011 by Shannon Okada, VP HVS Consulting & Evaluation and associate director, HVS Gaming Services.. To view the whole report, please visit www.hvs.com.