Visitor volume is the single-largest determinant of Southern Nevada's economic health, driving hotel occupancy, average daily room rates, and gaming revenue. All experienced modest increases in 2011 and are expected to continue to improve in 2012.
Although the Las Vegas market has historically weathered periods of economic decline and downturns in visitation and is beginning to show signs of improvement, the rate and extent of a future recovery are uncertain at this time.
The impact of the downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, was strongly felt by the Las Vegas gaming-tourism industry in 2009. Has the bottom been reached?
The effects of the challenging economic conditions in 2008 on major gaming markets, as well as other significant events and developments impacting these markets, are briefly summarized in this article.
The downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, has reduced visitation to the Las Vegas market in 2008 to levels not seen since 2004.
Taxation of gaming enterprises should take into consideration marketwide factors and dynamics rather than simply comparing the different gaming tax rates between jurisdictions.
This paper considers the performance and relative competitive positioning of the eight current New York racinos, the initial impact the addition of VLT gaming has had upon host racetracks, and implications for further study.
Forecasting gaming revenue for the Macau SAR over the next five to seven years will be particularly challenging primarily due to the current extraordinarily high win per unit per day (WPUPD) and the unprecedented anticipated growth in supply.
In this article, the authors discuss why the current trend of converting the use of transient lodging facilities in Hawaii to alternative uses is so appealing to developers.