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Gambling Revenue Rises in Vegas
11 February 2010

From the New York Times on Thursday, February 11, 2010:

 
LAS VEGAS -- Las Vegas Strip gambling revenue rose 5.9 percent in December, a second consecutive monthly gain and a fresh sign that the casino slump might be easing.

Strip revenue, or the amount of bets the casinos won, climbed to $502.2 million in December from a year earlier, Nevada’s Gaming Control Board said Thursday. Revenue for the full year declined 9.4 percent.

Casinos on the Las Vegas Strip won $5.55 billion in 2009, down from about $6.13 billion in 2008, the data shows. Resort operators in Las Vegas slashed room prices and made special offers to encourage demand during the record two-year slump, as companies canceled conventions and consumers spent less.

Winnings for all Nevada casinos dropped 3.2 percent to $859.3 million in December. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, slid 2.4 percent to $753.2 million, the board said.

About 36.4 million people visited Las Vegas last year, a 3 percent decline from 2008, according to the Las Vegas Convention and Visitors Authority. Convention attendance tumbled 24 percent.

 



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