Everyone knew that the reports on April gambling revenue in Nevada would be bleak. Some, however, predicted that the online gambling options in this state would lessen the blow casino companies faced. That does not appear to be the case, as the gambling revenue earned here last month was the lowest in history.
The past three months have been extremely difficult for Las Vegas. Things are likely to improve in June, though. Today, we’re going to look at exactly how much money was earned here, and discuss how things will change over the next few weeks.
Let’s get into it!
Nevada’s Casinos Were Closed For the Entire Month of April
Nevada, and specifically Las Vegas, is home to many of the world’s biggest and best casino-resorts. Tens of millions of visitors flock to this state every single year to gamble inside these world-class venues. Unfortunately, all of Nevada’s casinos have been closed since March.
As the new coronavirus began to spread, officials in Nevada began to realize how much of a risk these casinos pose. A decision was eventually made to close them to the public. This almost instantly resulted in hundreds of thousands of job losses.
Shutting down casinos here affected many other businesses. Restaurants, for example, were hit extremely hard in cities such as Las Vegas. Many other entertainment-based venues have seen their revenue completely stop flowing in.
Tourism also completely stopped in this state. Almost no one was visiting cities like Las Vegas unless it was crucial. That’s extremely difficult for a city that almost entirely relies on outside visitors to function normally.
Revenue figures in March were bad. Casinos were open here for a time, though, meaning at least some money was made. New revenue reports are coming out for the month of April that show how devastating this casino shutdown really was.
The Reports On April Gaming Revenue in Nevada Are In
Many have eagerly waited to see how much revenue Nevada’s gambling industry managed to earn last month. Obviously, this money cannot come from the land-based casinos themselves. There are, however, a wide range of regulated online gambling options here.
Unfortunately, these online gambling options didn’t help much. The State Gambling Control Board released a report on the April gaming revenue in Nevada that shows gaming win decreased by 99.6% last month. That includes a 99.3% drop on the Las Vegas Strip. Washoe County saw the biggest overall drop in revenue at 100.12%.
This is the lowest revenue has ever been since records started being kept in 1983. The only real wagers placed here were on unorthodox sporting events. Almost no major sports leagues were operating during the month of April.
Fortunately, things are guaranteed to improve in June. Many casinos in Las Vegas are scheduled to reopen on June 4th. Some predict that a huge surge of tourists will flock to the city.
The reports on April gaming revenue in Nevada show how tough a casino shutdown can be. The full effects of these regulations are not yet entirely known. Hope is that enough money is made next month to help the state’s economy recover.
This Might Be the Perfect Time to Book Your Trip to Las Vegas
As we just mentioned, casinos in Las Vegas are scheduled to finally reopen on June 4th. Both residents and tourists are excited to see things get back to normal. A huge number of great travel deals are now being offered here to attract more visitors.
Earlier this week, news broke that casino owner Derek Stevens is offering thousands of free flights to the city. He feels this is an effective way to boost tourism. Incredibly, Stevens is not even demanding that those who receive these flights stay at his venues!
Many of the major casino companies are significantly reducing their rates. That includes MGM Resorts International and Wynn Resorts. These lowered room rates will likely remain in place for the next few months.
Those looking to visit Las Vegas without breaking the bank may want to consider making the trip this summer. Things will certainly be different than they were just a few months ago. Casinos will encourage social distancing and limit unnecessary contact. The spirit of Las Vegas will remain in place, though.
Everyone knew that April gaming revenue in Nevada would be incredibly low. The same can be said for the revenue earned in May. The real test will be how these casinos perform in June.
Are you planning to visit Las Vegas this summer? Let us know in the comments section below!