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Las Vegas Hits Bottom

Las Vegas Hits Bottom

The pandemic has been bad for all gaming jurisdictions, but Las Vegas has been hit particularly hard. Not only were the casinos closed for several months, but when they reopened, the visitor volume continued to drag. As a city that depends on air traffic, the woes of the airlines have been extended to Las Vegas. In its weekly Southern Nevada-Las Vegas Metrics, RCG Economics published two charts that demonstrate the impact that the pandemic has had on Las Vegas, primarily the Strip. The first chart indicates the sharp decline in visitors when the casinos closed in mid-March. It also demonstrates that visitors have not returned in any substantial volume since then. The lower chart is the RevPAR chart or revenue per available room. Prior to the pandemic, hotels in Southern Nevada were averaging about $110 a night, but since that time it has leveled out at less than $40.

To see these charts and many others related to Nevada economic conditions, visit RCGEcon.com.

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