Nevada has had a difficult time lately, as Las Vegas gambling revenues have been suffering. In a state that depends on gambling tourism, this means terrible things for its economy; however, there has been a small turnaround, as Las Vegas gambling revenues were up by 17% this month, bringing in over $1 billion.
In July 2012, Las Vegas casinos generated $850 million while August 2012 saw a $150 million increase. This marks the second time that the city’s gambling revenues have topped $1 billion, and shows signs of promise for the gambling market’s future. It has been quite some time since the city has seen generous profits, and it is important to casino operators and investors that some recovery be experienced soon.
In January 2012, Las Vegas casinos also brought in more than $1 billion. Previously, it had been four before since that occurred as September 2008 saw a plus-$1 billion month. In 2007, there were only two months in which revenue did not exceed $1 billion.
The Las Vegas Strip was the most successful region this month, bringing in $41 million (an increase of 16%). Carson City and Elko County remained about even, while Lake Tahoe saw a small increase. Reno saw a 9.5% decrease, bringing in $46 million.
