Las Vegas Casino Revenue Hits Record Levels

Las Vegas casinos have reported record revenue figures for the second straight year despite rising inflation and Covid-19 surges. Figures released on Tuesday by the Nevada Gaming Control Board revealed that Las Vegas giants, such as Caesars Entertainment and MGM Resorts, raked in a total of US$8.29 billion in 2022, a 17% increase compared to 2021. Similarly, statewide Nevada gaming revenue was up 11% and hit US$14.8 billion.

Local Economy Experiencing Record Employment Levels

The gaming control board stated that Nevada “continued to benefit from the surging demand for leisure travel.” The gaming regulator also reported that employment figures have never been as high as they are now and that the local economy was “healthy.”

Despite conventions and Las Vegas trade shows not contributing to revenue as they did before the pandemic, Bloomberg reported that Las Vegas managed to bounce back thanks to the federal stimulus funds and the wide range of special events organized in the city.

Another thing that should encourage Las Vegas casinos is that despite online betting becoming legal in many US states, domestic and international travellers continue to flock to the US gambling capital. Also, as these latest figures show, gamblers and travellers are prepared to spend big to make those Vegas visits all the more memorable.