According to a recent report from the Reno Gazette-Journal and the Associated Press, a trio of economic reports indicated that gaming is still bustling along at a record rate in Sin City. Per this article, last month was a banner one for Nevada tourism as gaming soared thanks to strong passenger traffic, including the third-busiest month ever at Harry Reid International Airport in Vegas. According to the Nevada Gaming Control Board, casinos statewide won $1.3 billion last month, which accounted for the fourth highest total all-time. This also continued the state’s winning streak of casino winnings topping $1 billion in a month. While there has been widespread concern over a potential looming recession, Vegas’ gaming economy has seemingly missed the memo.
For this article, SBS will take a deeper dive into what these developments mean for Las Vegas, the Silver State and also some more gaming information related to Sin City.
According to the report, Sin City casinos were able to cash in thanks to a number of large scale events recently held in Vegas. This includes major shows at the T-Mobile Arena, the Electric Daisy Carnival music and entertainment festival and also some other major concerts. This includes the likes of Pearl Jam and also the Eagles at the MGM Grand Garden Arena. Thanks to these large events, traffic at Harry Reid International Airport was able to reach levels not seen since before the coronavirus pandemic.
According to a spokesman from the Las Vegas airport, there were nearly 4.6 million arriving and departing passengers in the latest report. This mark trailed only the monthly records set in October of 2019 and also May of that year as well. The number of international travelers received a big boost in the latest report. At nearly 800,000 international travelers, this was a huge jump from a year ago when the mark stood at 50,000 mostly due to pandemic related travel suspensions. A spokesman from the Nevada Gaming Control Board also said that the jump in casino baccarat play and winnings was primarily due to the large return of international travelers.
Per the article, Las Vegas was not the only area that saw increases in international travel. Reno-Tahoe International Airport reported more than 352,000 arriving and departing passengers in the latest data which was up 16.5% from May of last year. The international passenger count was also up at RTO at nearly 6.4%. Also thanks to a bolstered tourism number across Nevada, the state was able to collect almost $92 million in taxes. As many are aware, this is significant since casino taxes make up about 17% of state revenues.
Tourist numbers remained steady in Southern Nevada with about 3.4 million total visitors in the latest report. This showed a 20% increase from May of 2021. Convention attendance was also up dramatically from last year as well, but is still down about 25% from April of 2019. The Las Vegas Convention and Visitors Authority remarked that 2021 was “a year of recovery for Southern Nevada’s tourism industry following a year of staggering impacts related to the COVID-19 pandemic.” Indeed with these growth trends in place, many are excited to see Vegas and Nevada’s gaming economy roaring back.
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