Las Vegas Casino's see first increaseBy: Harper Whitefield
The Las Vegas casino”s finally see an end of the 22-month slide of gaming revenue. For the first time sice 2007 there is an increase in gaming win for the casino”s on the strip in Las Vegas, the strip faced an 8.2 % increase in november 2009.
The last increase of gaming win reported by strip casino”s dated back in december 2007. The revenue from the casino”s on the strip accounts for half of Vegas” total gaming revenue.
Casino stocks react different to this news with both shares of the Wynn Resorts and Las Vegas Sands a bit down while MGM MIRAGE shares went up almost 7% to $11.65. Statewide Nevada reported an increase in casino win of over 4%.
Another indicator of the ending of the economic downfall for Vegas is the incline of the number of visitors heading to Vegas. In November Vegas saw an increase for the 3rd month in a row, 3% more in November. One year ago the number of visitors was down almost 10%, this was at the peak of the economic crisis.