Las Vegas Gambling Revenue Stalls as Airline Passengers Pull Back

Gambling revenue and visitor numbers in Las Vegas remained nearly unchanged in September. According to Nevada Gaming Control Board data, gambling revenue on the Strip reached $693.4 million, a difference of less than 1 percent from the same period last year. Statewide revenue held flat at around $1.28 billion.

Baccarat contributed $55.4 million to Strip revenue. Although this figure is below average, it represents an annual increase of nearly 10 percent. Over the past twelve months, the Strip earned $1.5 billion from baccarat, an amount nearly equal to the total from all other table games combined.

According to the Las Vegas Convention and Visitors Authority, visitor numbers stayed flat at just over 3 million. Room occupancy fell 0.5 percent, while the average room rate on the Strip dropped 10 percent and revenue per available room fell 12 percent. Passenger numbers at Harry Reid Airport fell 8 percent in September, and the year-to-date decline stands at 7 percent. International travel rose 6 percent, becoming the only bright spot in the picture.

MGM Resorts Chairman Bill Hornbuckle said on the third-quarter earnings call that domestic airline ticket sales have risen more than 10 percent since March, and flights to Las Vegas are up more than 40 percent since last summer.

Other parts of the state show a mixed picture. Laughlin posted the weakest performance with a 16 percent drop, while Reno's revenue fell 3.5 percent to roughly $73 million. Statewide sports betting was flat at $54 million, while football betting rose 7 percent to $35.5 million.