The Las Vegas Strip, home to giant casinos like the MGM Grand and Bellagio, reported total revenue of US$8.29 billion in 2022, up 17% year-over-year, according to data released by Nevada Gaming Control Board.
Gaming on the Las Vegas Strip, Sin City's main avenue, accounted for US$8.29 billion of the state's total for the year, a 17.1% gain over last year.
Leisure travelers continued to show up, even as online gambling spread to many states. Federal stimulus funds, as well as a series of special events in the city, have helped bring high-spending players back.
As of December 2022, Nevada's revenue was US$1.3 billion, making it the 22nd consecutive month to reach the ten figures. On the Strip, it was US$ 814.2 million in the month.
This mark of the last month of the year was the result of a moment full of attractions in Las Vegas. In addition to its own festivities at the time, the city also hosted professional and college football matches, end-of-season rodeo events and a UFC fight night.
"Nevada continued to benefit from growing demand for leisure travel domestically and internationally and a healthy local economy experiencing record levels of employment," Michael Lawton, senior economic analyst at the Gaming Control Board, said in a statement.
During the 22 months of over US$1 billion in gaming revenue, the state of Nevada has seen its monthly mark break records over and over again.
Prior to this sequence, the highest mark was from October 2007, when homes in the region moved US$ 1.16 billion. This number has been surpassed 15 times, including the new record that remains until today, reached last July: US$ 1.36 billion.
The year 2022 was significant for the universe of games and casinos. Since the big blow caused by the Covid-19 Pandemic, this was the first year with the houses fully functioning from end to end.
In addition, other symptoms of the economic recession experienced in the USA were felt in the population, such as an increase in the cost of living, but Las Vegas continues to prove itself as one of the main tourist destinations in the country and the world.
In a further boost to the global outlook, Macau reported that gaming revenue increased by 82.5% in January, with the reopening of China and the week-long Lunar New Year holiday triggering an influx of visitors.
The rebound follows 10 consecutive months of double-digit declines that saw the city lose its title as the world's biggest gambling hub, although analysts have warned that it is unclear whether the pace of recovery can be sustained.
Source: GMB
