Fitch Ratings Updates 2023 Outlook for Las Vegas Strip Casinos

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Daily Mail Online

with Nevada raking in $15 BILLION in 2023 as gamblers rush back to Sin City after COVID slump

In a blockbuster year of profits, Nevada casinos raked in over $15billion from unlucky gamblers in 2023. Casinos on the Las Vegas strip took in more than $900million from gamblers in December alone, contributing to a record-breaking month for the state. The Gaming Control Board of Nevada said the state recorded winnings of $1.43 billion in the…

Finance ・ 03 February 2024

The Nevada Independent

Nevada casinos again shatter revenue record, bring in $15.5B in 2023

Strip casinos had their most lucrative year at $8.9 billion. Also, Las Vegas visitation tops 40.8 million and Reid Airport sets passenger record. For the third straight year, Nevada casinos shattered the state's annual gaming revenue record. The Gaming Control Board on Wednesday said casinos statewide collected $15.5 billion in gaming revenue in…

Finance ・ 01 February 2024

World Casino News

Nevada's Casino Win Boosted By Strip's Performance

During September, the Las Vegas Strip was able to generate impressive revenue as it increased the state's overall monthly gambling revenue, according to the Nevada Gaming Control Board (NGCB), Nevada's gaming regulatory body. Strip's licensed casinos as main revenue generators: The 60 officially licensed casinos located on the Strip managed to…

Law ・ 02 November 2023

Northern Nevada Business Weekly

Nevada casinos set single-month revenue record in July

So much for a gaming revenue slowdown. Nevada's casino industry set a single-month record in July with more than $1.4 billion in casino earnings, fueled by elevated revenue from slot machines statewide and the highest hold percentage on baccarat wagers by Strip casinos in 20 years. After seeing statewide gaming revenue decline in three out of the…

Finance ・ 05 September 2023

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Nevada Appeal

Casinos set revenue record; Washoe tops $100M

So much for a gaming revenue slowdown. Nevada's casino industry set a single-month record in July with more than $1.4 billion in casino earnings, fueled by elevated revenue from slot machines statewide and the highest hold percentage on baccarat wagers by Strip casinos in 20 years. After seeing statewide gaming revenue decline in three out of the…

Finance ・ 01 September 2023

The Nevada Independent

Nevada casinos set a single-month revenue record of $1.4B during July

So much for a gaming revenue slowdown. Nevada's casino industry set a single-month record in July with more than $1.4 billion in casino earnings, fueled by elevated revenue from slot machines statewide and the highest hold percentage on baccarat wagers by Strip casinos in 20 years. After seeing statewide gaming revenue decline in three out of the…

Finance ・ 31 August 2023

Review Journal

Clark County’s $1B gaming win streak ends; state sees record April

Casino gaming win in Clark County in April ended its 11-month streak of winning $1 billion or more, but the state still managed to have its best April on record winning $1.16 billion from gamblers for the month, the Nevada Gaming Control Board reported Wednesday. Nevada has recorded $1 billion in gaming win only five times in April, three of which…

Industry ・ 01 June 2023

iGaming Business

More bullishness for Las Vegas in 2023 after records set in 2022

The optimism started with a strong finish to 2022 that had Nevada breaking its 2021 gaming revenue record by the time November ended. By the end of December, Nevada had recorded 22 consecutive months in which gaming revenue exceeded $1bn. The 2022 figure of $14.8bn was 10.5% higher than in 2021. But what topped it off was how the Strip, in one of…

Travel ・ 20 February 2023

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Nevada Appeal

Nevada casinos close out 2022 with record gaming revenue figures

Nevada's casino industry set annual gaming revenue records statewide and on the Strip when November's figures were counted. December's response? "Not so fast." Fueled by a single-month record for the Strip in December, Nevada finished 2022 with more than $14.8 billion in gaming revenue, blowing past 2021's $13.4 billion by 10.5 percent, the state's…

Finance ・ 01 February 2023

Casino Guru

Gambling CEOs are optimistic about industry’s future

The American Gaming Association has gauged opinions among C-level executives in gambling firms in the industry, outlining an upbeat outlook for the future. According to AGA's dedicated Gaming Industry Outlook conducted and presented in collaboration with Fitch Ratings, the majority of respondents see the coming months as positive developments. Some…

Industry ・ 07 October 2022

Yogonet

Nevada gambling revenue tops $1B for 18th consecutive month in August at $1.2B

Nevada's winning streak shows no sign of slowing down: the Silver State has now reported its 18th consecutive month of more than $1 billion in gambling revenue. According to the lastet data released by the Nevada Gaming Control Board on Thursday, the state collected $1.2 billion from its casinos in August, a figure 26.7% up from the same month in…

Finance ・ 30 September 2022

Vegas Slots Online

Analyst: Las Vegas Casinos Facing Revenue Dip in 2023

Las Vegas casinos could face a slowdown next year, with analysts predicting that the current gaming revenue boom will come to an end in 2023. Fitch Ratings Service analyst Colin Mansfield has predicted that Las Vegas gaming revenue could fall by as much as 10% next year as part of a broader slowdown in the US economy. Las Vegas casinos have bounced…

Land-based ・ 16 September 2022

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The Nevada Independent

Analyst: Events will make 2022 bigger Las Vegas revenue year than 2021

As the Las Vegas resort industry awaits the full return of its convention and meeting business, one gaming analyst said high-profile events tied to the National Football League will boost Southern Nevada visitation in the first half of the year, despite the recent national spike in COVID-19 cases. Daniel Politzer, who follows the gaming industry…

Finance ・ 13 January 2022

Gambling News

US Casinos in Macau Will Not Be Treated Differently, Fitch Ratings Claim

Fitch Ratings Inc insists that US-controlled casinos in Macau will not be treated any differently from casinos owned by Chinese entities in light of the recent gaming rights refreshments in the city. The company solidified its claim by adding that US casino subsidiaries are owned by public entities listed in Hong Kong, have invested a lot of money,…

Covid ・ 12 January 2022

The Nevada Independent

Nevada casinos near all-time gaming revenue mark after strong November

Nevada casinos have recorded their third-highest gaming revenue year. And there is still one month to be added to the 2021 books. The Gaming Control Board said Wednesday that statewide gaming revenue in November was $1.32 billion, just shy of the single-month record of $1.36 billion reported in July. November's totals were a 41 percent increase…

Land-based ・ 29 December 2021

Forbes

Why Macau’s Casinos Are Still The Best Bet For Wynn And Las Vegas Sands

B efore the pandemic, Macau was the world's most lucrative gaming market in the world. But after nearly two years of outbreaks and lockdowns, which largely closed the borders of the autonomous region belonging to China to visitors, gambling revenues for the last 10 months are still down 70% compared to pre-pandemic levels. Macau casino stocks are…

Covid ・ 01 December 2021

Forbes

Nevada On Six-Month Hot Streak With $1 Billion-Plus In Gambling Revenue

Las Vegas' luck has not yet run out. Nevada collected $625.7 million in gambling revenue from casinos on the Las Vegas Strip in August, which is up 20% from pre-pandemic levels in August 2019, according to numbers released Thursday by the Nevada Gaming Control Board. Sin City's revenue increase over the same month in 2019 is another sign that Vegas…

Finance ・ 04 October 2021

Stock News

LVS: 3 Casino Stocks to Avoid as Macau Announces Increased Government Supervision

The casino industry has experienced a decent recovery this year with the reopening of brick-and-mortar casinos and the growing popularity of online gambling. However, shares of Macau casino operators declined by approximately one-third of their values, losing about $18 billion, on September 15, as Macau declared stronger supervision of casino…

Finance ・ 20 September 2021

Forbes

Nevada Records Another $1 Billion Month, But Las Vegas Plods Through A Cautious Recovery

N evada recorded $3.462 billion in revenue from its casinos during the second quarter of 2021, making it the largest quarterly gaming win in the Silver State's history-a signal that the gambling industry is in recovery mode. According to the Nevada Gaming Control Board, the state collected $1.2 billion in gambling revenue in June,…

Religion ・ 30 July 2021

The Nevada Independent

Indy Gaming: Fitch Ratings revises its outlook toward Las Vegas casino recovery, sees rebound by 2023

Good morning, and welcome to the Indy Gaming newsletter, a weekly look at gaming matters nationally and internationally and how the events tie back to Nevada. Please to sign up and receive Indy Gaming in your inbox. Fitch Ratings gaming analyst Colin Mansfield waited in line patiently to sample a specialty item offered by Boon Tong Kee, one of the…

Land-based ・ 21 July 2021

The Nevada Independent

September gaming revenue steers Nevada casinos toward another record-breaking year

Nine months are in the books for 2022, and Nevada casinos are far ahead of last year's record gaming revenue total. Analysts say the state's gaming industry is on track to shatter 2021's single-year total of $13.4 billion in revenue before December, especially if Las Vegas Strip resorts continue to experience the positive business trends seen in…

Land-based ・ 27 October 2022

The Nevada Independent

Southern Nevada casinos fuel Nevada to a record-breaking February

Depending on where you look, February was either another stellar month for Nevada gaming revenue or the second consecutive monthly decline in casino revenue totals. Statewide, Nevada casinos collected nearly $1.24 billion in gaming revenue during February, the highest figure ever recorded for the month, the Gaming Control Board said Tuesday. The…

Finance ・ 30 March 2023

Card Player

Nevada Casino Win Reaches $1.3 Billion For September

Casino gaming continues to climb in Nevada despite trends showing that the overall American economy may be slowing. The Nevada Gaming Control Board reported a total "gaming win" (revenue) of almost $1.3 billion on Monday for the month of September. That total amounts to a 1.7% increase compared to the same month in 2022, when the state's casinos…

Land-based ・ 01 November 2023