Nevada casinos on track for their second year in a row breaking revenue records

These statements correspond to the registered increase of 14% in the rate of gambling with respect to the previous year in which the historical figure of 13.4 billion dollars was already entered.

Regarding this, Daniel Politzer and Joe Greff, gaming analysts at Wells Fargo and J.P Morgan respectively, have given their point of view.

Politzer assured that "Gaming revenues in Las Vegas are generally stable, but tend to reflect a small decrease in August", corresponding to what Greff also comments, "Broadly speaking, demand has shown resilience in light of global concerns due to the rise in gas prices that are influencing consumers”.

These flattering predictions are reinforced after registering that this August has been the 18th month in a row that exceeds the barrier of a trillion dollars in income.

These numbers are the result of diversification, as pointed out by another notable analyst, Michal Lawton, who has argued that although revenues usually fall in this month of August, establishments with card games have maintained their activity by adding numerous other activities in parallel , such as sporting events, concerts, etc.

As for sports betting, revenues have also increased. Specifically, 12% compared to last year, reflecting a value of 16.1 billion dollars, although the amount of bets deposited suffered a small decrease of 4.4%, which they hope will be compensated by the start of the most important sports competitions, the NFL, NBA and college sports.

All of these analyzes are hopeful as big figures are being recorded in the gaming sector at a time when the number of visitors to Las Vegas has not yet recovered from the COVID19 pandemic.

"Long term, we expect a return to conventions and a strong calendar of sporting and other events in the next two years to support revenue from gaming and other activities," said Chad Benyon, an analyst at Macquarie Securities.

Marked in red on the calendar are three events for that recovery, the final phase of the NCAA March Madness in April, the Formula 1 Las Vegas Grand Prix in November and Superbowl LVIII in February 2024.