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Vegas Rebound

Vegas Rebound

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Las Vegas continues to be one of the hardest-hit markets in the wake of the Covid-19 lockdown. When the casinos opened after being closed for three months, players didn’t rush back as they seem to have done in other jurisdictions. Las Vegas has become largely a locals market consisting of Las Vegas residents and Southern Californians within driving distance. But Las Vegas Strip casinos have had to deeply discount their room rates, which is evident from the chart at left which tracks revPAR, or revenue per available room. It’s far below the level achieved prior to the lockdown. On the other hand, baccarat revenues, long a bellwether of a strong gaming demand on the Strip, had a big rebound, on its way to almost normalized levels. Both charts were compiled with data through July 2020. The charts at right were just two of many produced by RGC Economics. To view the complete set, visit RCG1.com.