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Nevada casinos’revenues show a decline
Casinos in Nevada generated US $1.306 billion in July 2024.
Nevada is a landlocked state in the Western region of the United States. The state currently has more than 150 casinos.
The gaming regulatory board reported that July’s gaming revenue in Nevada declined to $1.306 billion, with the Las Vegas Strip having a 15% drop. Strip is Nevada’s casino centre with its 45 casinos. The decline is a result of lower win rates, especially in Strips’s slot machines.
Michael Lawton, the NGCB’s senior economic analyst, said:
“I would not call this the start of any downturn. This was a very difficult comparison, as July 2023 was the second-highest win total in state and Strip history.”
In July 2023, revenues reached a record of $ 1.404 billion.
Downtown Clark County, on the contrary, saw casino revenue rise by 10% to $71.8 million. Overall, Clark County reported a GGR of $1.118 billion, a year-over-year loss of more than 7%.
What refers to the state’s economic condition? A recent WalletHub study reveals that nearly 75% of US adults say inflation kills their spending. Americans are still dealing with higher costs for flights, hotels, and gas compared to pre-pandemic levels. Las Vegas remains a popular destination for those who like entertainment and gaming activities.
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