Hotels on the Las Vegas Strip have reportedly suffered six consecutive months of gaming revenue losses.
But if any destination can withstand the downturn, it’s Las Vegas.
Thankfully for Sin City, total revenue from gaming dropped just one percent, according to News3 Las Vegas.
“We still think Vegas is fundamentally sound, with room rates trending up, while company commentary is positive outside of well-known tough comps,” said Truist Securities analyst Barry Jonas.
The gaming revenue appears to be offset by the increase in visitors over the last two years, due to the rise of convention attendance and room rates.
Josh Swissman, founding partner and managing director of GMA Consulting, said even though there have been decreases over the last six months, the numbers have been small against difficult comparisons.
“I’m not overly surprised. But if we start to see continuing decreases, I’ll worry a bit more," Swissman said. "For now, we’re in a good place. The industry and Vegas are healthy."
"There’s certainty in the White House The market likes certainty, whether you’re a Democrat or Republican," Swissman continued. "I think you’re going to see this place of settling on the Strip and in my mind, that’s not a bad thing. It just means we won’t see the meteoric growth of last year and the year before.
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