Wednesday, November 30, 2022

Nevada Casinos Continue $1 Billion Streak

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For the 12th consecutive month, Nevada casinos have managed to generate over $1 billion in gambling revenue. The Nevada Gaming Control Board has released the numbers for February, with the states casinos officially earning $1.1 billion in profits. Additionally, February set a new all time revenue record for Nevada, up nearly 45% from the year before. Not too shabby for a month with just 28 days in it!

The outlook moving forward, however, is not quite as optimistic as it has been for the past several months when it comes to Nevada casinos. First, there are concerns about rising inflation eating into profits. Then, with gas prices out of control, it could spell trouble for the travel industry. And let’s not forget the worries of a new surge in Coronavirus cases.

Research Analyst for the Nevada Gaming Control Board, Michael Lawton, recently stated that “…there are a great deal of macroeconomic and geopolitical events that are happening in real-time which are concerning and it is unknown how it could impact the trends we have been witnessing for the past year.”

Despite these factors, there are still reasons for Nevada casinos to be hopeful. One of those reasons is the expansion of international flights directly to Las Vegas. Over the next several weeks direct service will begin from the Las Vegas airport to several new cities in Canada and Mexico, plus locations in the United Kingdom, German, the Netherlands and more.