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Happy Feet

Happy Feet

How many people are actually traveling to casinos as the pandemic winds down? Jefferies’ report on U.S. casino market foot traffic through November 2021 gives a good indication. The index level of national casino foot traffic in November was up 3.4 percent month over month. Compared to 2019 levels, volume was 23.8 percent lower during the month, which improved from October’s relative performance to 2019. While good news, the report warns that there could be hurdles coming up. “While it may be too early to discern, the Omicron variant could pressure local governments to reinstate restrictions, which may impact foot traffic in the coming months. The first five days of December show that foot traffic was 35 percent lower compared to 2019 levels,” wrote analyst David Katz. The second chart describes how foot traffic for casino companies that own multiple properties across the country has progressed.

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