Nevada’s Casino Industry Rise

Even though there has been a significant downfall in recent Las Vegas, Nevada ratings, March of 2017 , has brought a substantial uprising in visitation numbers, casino gaming wins and occupational level for the city as well as, statewide. Nevada’s casino ratings went up in glory from a general prospective because of many beneficial factors.

the NCAA March Madness Tournament is one of the said factors. This is a convention that is for sports fans, basketball apparel stores, and sports gambling. It brings in profit for sales as well as, casino’s. Although, the rating for basketball was only at about 10%, the sports books for this tournament alone brought in a win of roughly $41 million statewide. Which, is about a 90% increase. Las Vegas, Nevada was still at it’s peak with a stunning 18.2% trending rate through the 3 month winning trend from January 1st to March 31st of this year. Fiscal trends are also a benefactor for casino profit win ratings. Not only did this tournament increase the rise in casino industries, it also brought tourists which also contributed to this uprising.

The record occupancy level recorded for Las Vegas, Nevada was also in the month of March but, in the year of 1996. Which, was 2q years ago. The percentage stood at roughly 96% with 90,266 rooms available to be occupied. In March of 2017, that record was almost topped. During this period, Las Vegas had 149,351 vacancies to be filled. The occupancy levels reached to 94% with a rise of 2.2 percentage points. The areas Motel occupancy was recorded to have went from roughly 75% to 81.4% in this one month. This was the highest of all occupancy in Las Vegas, since the year of 1996.

March was also, the third best month in visitation counts for the city. The first and second months are October of 2015 as well as, July of 2016. Southern Nevada reportedly took in almost 4 million tourists and visitors during this time. Not only for the March Madness Tournament, it was also because of the

ConExpo-Con/Agg Building Equipment Trade Convention. They brought in roughly 130,000 people to the region. This count caused Nevada’s state gaming profit wins for casino’s statewide to skyrocket. They alone, took in an astonishing revenue of $991 million in March. This is a 7.4% jump from this same period last year in 2016.

This one month had an iconic impact in this region. It brought in majority of the revenue and occupancy increase in the 9 more than period of July 1, 2016 to March 31, 2017. The Strip gained roughly 4% at almost $5 billion and Clark County is up to $7.51 billion with a 3.3% gain. The downtown region of Las Vegas is also up to roughly $455 million at a 9.9% rate and statewide, the win percentage has risen up 3.2% to $8.65 billion.