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Gambling Revenues Boom in Las Vegas in May

Gambling Revenues Boom in Las Vegas in May

Las Vegas and other US casinos have had a difficult few years, with the economy still struggling and gambling competition increasing from Macau, Singapore, and other destinations around the world that are all vying for the same gambling and tourist dollars.

Casinos in Nevada finally got a bit of good news when official revenue numbers were released in May, which showed that the state as a whole had its best month in 4.5 years and Las Vegas Strip casinos had their best month since January 2008.

Nevada casinos as a whole collected $984 million in revenue in May, far better than the $847 million they took in during May last year. Strip casinos collected $580 million from slot machines, table games, and other operations, eclipsing the $450 million they received in May 2010.

Slot machine revenue has been particularly strong, increasing for the third month in a row. Slots are responsible for both the bulk of gaming revenues and profits for many casinos so they're a good indicator as far as how casinos are faring overall.

Slots revenues is important to casinos as it tends to track the overall time that guests stay on casino properties, with a gain in slots revenue spilling over to increased hotel bookings and food and beverage sales in bars and restaurants.

Baccarat results were also very positive, in part due to more high-rollers visiting Las Vegas for several big boxing matches and other events that tend to attract higher-end gamblers that spend massive amounts of money at the tables and around town as well.

13-Jul-2011, 05:04

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