Source link : https://las-vegas.news/4-issues-casinos-have-seen-throughout-the-las-vegas-tourism-downturn/
LAS VEGAS (KLAS) — Considerations concerning the Las Vegas economic system — particularly, gradual enterprise on the Strip — have been simmering this yr, and it appears nobody has a solution to what is going on on.
Monetary analysts are asking if it is tariffs, or the climate, or is there one thing structurally shaky with how Las Vegas works. Caesars Leisure CEO Tom Reeg, who has supplied theories about shopper conduct previously, would not have a solution this summer time.
“It’s tough to put your finger on that,” Reeg stated final week.
“This is kind of normal seasonality that we haven’t seen in awhile,” he stated.
Las Vegas has been on a sizzling streak popping out of the pandemic. The state noticed casinos win document quantities from gamblers three years in a row earlier than the run led to June, the tip of the fiscal yr (July 1-June 30). However this yr is completely different.
A couple of attention-grabbing observations have emerged over the previous weeks as leaders from Station Casinos, Caesars and MGM Resorts Worldwide have been peppered with questions on what’s mistaken with Las Vegas this yr.
Youthful clients
The declines in income and earnings aren’t common. “Easily the best quarter in our company’s history,” stated Stephen Cootey, govt vp, CFO and treasurer at Crimson Rock Resorts (the publicly traded face of Station Casinos).
Enchancment initiatives at Inexperienced Valley Ranch, Durango On line casino & Resort and Sundown…
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Author : LasVegasNews
Publish date : 2025-08-08 22:15:00
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