Profits on a roll in Vegas
Nevada’s “Big Six” gaming operators ended last year with record breaking profits that were nearly double the year before, analysts said.
The reasons included surging demand for Las Vegas vacations and the two biggest mergers in industry history.
“Las Vegas is one of the top destination getaways in North America and a great value compared with the alternatives such as Disneyworld, New York City and San Francisco,” Deutsche Bank analyst Marc Falcone told the Las Vegas Review-Journal.
The ”Big Six” are MGM Mirage, Harrah’s Entertainment, Las Vegas Sands, Wynn Resorts, Boyd Gaming Corp. and Station Casinos.
The six reported incomes up 92.3% over the previous year.
The numbers of independent travelers were below expectations but that was offset by growth in the city’s convention business.
Last year was a banner year for the gaming industry, even compared with the previous year, which was above average, added Brian Gordon, a partner in Applied Analysis.
Vegas’s efforts at marketing and branding were clearly a factor in the records, but a resurgence of consumer confidence also helped, analysts said.
The opening of Wynn Las Vegas last year also generated national attention.
The growth in gaming is not limited to Las Vegas, said Bill Thompson, a University of Nevada, Las Vegas, professor who specializes in gaming studies.
He said companies are looking at possible gaming ventures at other areas of the US and Europe.
Report by David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025