Analysts believe that the Las Vegas Strip will continue its rebound during 2015, although gaming won’t be the primary reason.
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Non-gaming spending by customers continues to outpace casino revenue and it is widely believed that this trend never will be reversed.
According to the Gaming Control Board’s recently published Fiscal 2014 Gaming Abstract, Strip casinos increased total revenue by five per cent to $16.3bn. Gaming revenue of $5.99bn - 36.7 per cent of the overall figure - was up 4.2 per cent over fiscal 2013.
Gaming revenue, however, is still down 7.7 per cent from its peak of $6.5bn in fiscal 2007. The Strip’s non-gaming amenities didn’t mirror gaming’s result.
Hotel rooms on the Strip brought in $4.25bn in revenue in fiscal 2014; restaurants accounted for $2.51bn; alcohol sales topped $1.2bn; and other areas – night clubs, retail and entertainment - had revenue of $2.35bn. All four categories experienced 12-month record revenue totals.
