Las Vegas explodes

Posted on December 29, 2021 by David McKee

But in a good way. Despite having one less weekend in which to gamble than in 2019, gaming revenues were off the charts last November. The Las Vegas Strip vaulted 46% to $755 million and locals revenues, expected to level off, instead catapulted 45% to $263.5 million. Some of the latter was fattened by end-of-October slot win, not tallied until the following Monday. Statewide, the leap was 41% to $1.3 billion. The magic number for the Strip was a 45% increase in baccarat win (remember, more international players were allowed into town) on 35% more wagering plus tighter hold. Strip slot win—$408 million—was a 47% jump on 31% more coin-in (and 9% hold), while non-baccarat table games rallied 45% on 35% larger betting and tight hold.

Downtown revenues rocketed 59% to $83 million ($30 million better than Circa‘s first month, a year earlier) while the Boulder Strip enjoyed a 61% moonshot to $93.5 million. North Las Vegas climbed 21% to $23.5 million, Laughlin eked out an extra 5% to reach $43 million and miscellaneous Clark County climbed 40% to $146.5 million. South Lake Tahoe recovered well from the Caldor wildfire, up 31% to $18 million and Reno hopped 19% to $60 million. As for the Vegas area, its recovery was accomplished in spite of a 4.5% declivity in passengers passing through what was still McCarran International Airport. 119,000 of them were aboard international flights, down 61% from 2019 but a comeback has to begin somewhere. As for domestic carriers, Southwest Airlines‘ 1.3 million passengers crushed all competitors. Now back to our doctor-mandated bedtime.

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