Profits head south on Vegas strip
13th March, 2008
The state of Nevada has witnessed its first fall in casino gambling revenue since 2001, it has been confirmed.
Takings from the Las Vegas strip and the state's wider casino industry fell by almost five per cent year-on-year in January, though that still amounted to an impressive total of $1.06 billion (£520 million).
Falling demand in the Las Vegas strip contributed the lion's share of the downturn to revenue - hitting just under $600 million following a 1.3 per cent fall - while more dramatic falls were recorded in lesser-known casino gambling areas such as Reno and North Lake Tahoe.
The growing popularity of online casino gambling is believed to have contributed to the figures, while analysts say the continued expansion of Chinese gambling exclave Macau has also played a role.
Overall, however, Sin City retains its appeal as one of the most popular tourist destinations in the US, with the total number of people visiting Nevada rising to 2.2 per cent last year to reach 40 million.
Those visitors spent a total of $11 billion during their stay, according to the Las Vegas Convention and Visitors Authority.
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