Nevada’s November Gaming Revenue Dropped This Year

For most of 2019, gambling revenue in Las Vegas has increased. It’s an exciting statistic, considering casino competition has been increasing around the US. Unfortunately, Nevada’s November gaming revenue dropped. Revenue Drop Picture

It’s not entirely surprising. November is considered one of the least-busy months for Las Vegas. It’s likely that gambling revenue will increase once again in December. Today, we’re going to look at exactly how much gaming revenue fell last month.

Let’s get into it!

2019 Proves to Be a Fantastic Year For Las Vegas Casinos

Las Vegas is still the country’s biggest and best gambling destination. In recent years, however, a huge number of states have begun to expand their casino industries. Many felt that this rise in competition would take a toll on Nevada. This did not turn out to be the case.

As we’ve already mentioned, gambling revenue has increased here for almost the entire year. This is especially true on the Las Vegas Strip. Here, nearly all of the casinos have experienced massive revenue gains.

This Summer was a particularly impressive season for gambling venues in Las Vegas. During June, July, and August, gaming revenue surged in the city. Hotel occupancy was also close to reaching record-breaking levels.

Even during Fall, casino revenue surged here. In October, gambling revenue here surpassed $1 billion. Revenue from the Las Vegas Strip during this month reached $538.5 million.

The next month, gambling revenue finally dropped. Reports on Nevada’s November gaming revenue have just been released. Here’s how the state’s gambling venues performed.

Nevada’s November Gaming Revenue Falls in November

November isn’t typically thought of as a popular gambling month for Las Vegas. Many individuals are gearing up for the holidays and aren’t interested in wagering their money inside casinos. This week, the NV Gaming Control Board released reports on Nevada’s November gaming revenue. Unfortunately, things didn’t turn out great.

According to these reports, gambling revenue was down 3.1% when compared to November of 2018. Overall, the state brought in $937.5 million in gambling revenue. In Clark County, where Las Vegas is located, revenue dropped by 3.4% to $805.2 million.

North Las Vegas casinos performed the worst. Casinos in this area generated just $19.3 million. This represents an astounding 15.3% drop from the same time last year.

Historically speaking, Baccarat is one of the best games for casinos to generate revenue. Interestingly, Baccarat revenue dropped significantly in November. Michael Lawton, a senior research analyst for the state Gaming Control Board, commented on this to the media this week.

“The continued trend of decreased baccarat volumes was the cause for this month’s decline as volumes of $557 million were down $247.4 million or 30.8 percent,” he said. “Baccarat volumes have only increased twice this calendar year and are currently down 14.9 percent through November.”

Sports betting proved to bring in a significant amount of revenue last month. Sports pools won $31 million, up 14.3 percent or $3.9 million compared to 2018. Overall, Nevada’s November gaming revenue drop doesn’t mean much. It’s likely that things have already bounced back in December.

Construction Continues on Resorts World Las Vegas

For years, officials in Las Vegas have discussed the impact that Resorts World will have on the city. It’s the most expensive casino-resort ever built in the city. Most feel it will be one of the best gambling venues ever built.

Initially, the hope was that this venue would open in 2020. Not long ago, former MGM Resorts executive Scott Sibella became president of Resorts World Las Vegas. He pushed the opening of the venue back until 2021.

Sibella claims that he wants to ensure everything is perfect by the time it opens to the public. He also added several entertainment features to the resort including a 5,000-seat theater.

Resorts World Las Vegas is opening in the northern area of the Las Vegas Strip. This is an area of the city that’s struggled to attract tourists. Hopefully, this new casino-resort will bring new life to the area.

Nevada’s November gaming revenue dropped. For most of 2019, however, the state has generated a huge amount of money from its gambling venues. Make sure to stay tuned for an update on December’s revenue earnings!

More Details About Resorts World Las Vegas Are Coming Out

Since 2015, construction has been underway on a massive new casino-resort in the northern area of the Las Vegas Strip. This new venue is expected to be incredible. Scott Sibella, President of this new property, has just revealed some exciting new details about Resorts World Las Vegas.Resorts World Las Vegas

Billions of dollars are being invested in Resorts World. It’s owned by Genting Group, who are working to make it one of the most impressive gambling establishments in Vegas. Let’s look at some of the new reveals we’re hearing about this property.

It’s Been a Long Road to Construct Resorts World

Opening a major gambling venue on the Las Vegas Strip is obviously not easy. There are a plethora of hurdles that need to be overcome in order to construct anything here. The money it costs alone to open a casino-resort is enough to put more casino companies out of business.

Resorts World Las Vegas has been a work in progress for nearly a decade. In 2012, negotiations began for Genting Group to purchase the land on the Strip where the casino would be constructed. In December of 2013, plans for this venue were being finalized and it was estimated to cost $4 billion to finish.

Unfortunately, several delays would soon hit this venue. Throughout 2014, officials working on the property were focused on redesign work. Some company heads also left and new ones were brought in.

Finally, groundbreaking on the venue began in 2015. For the next few years, the massive venue has been under construction. It will now feature 110,000 square-feet of gaming space, a 220,000 square-foot swimming pool, and a 27,000 square-foot spa.

For many years, officials within Genting Group kept most of the updates on this venue under wraps. This week, several new details about Resorts World Las Vegas were revealed.

Scott Sibella Offers New Details About Resorts World Las Vegas

Right now, construction is underway on Resorts World. If all goes according to plan, this exciting new venue will open to the public in 2021. Scott Sibella, President of Resorts World, claims that it will be unlike any other property in the city.

Sibella offered some clarity on why the opening date was pushed back. Initially, it was expected to open in December of 2020. Recently, the opening date was pushed back to the Summer of 2021.

“The timeline did change a little as we were originally looking to open in December of 2020. We added some scope since I’ve been here, including a 5,000-seat theater and some additional convention space. We felt it was important to have everything 100% completed when we do open,” he said. 

Scott Sibella was also asked about some of the rumors that have been circulating about this property. As we’ve already stated, he believes it will be one of the most unique gambling venues in the entire city.

“I think what I’d want to get across is that this will be a property like nobody’s ever seen in Las Vegas. It’s going to be designed and operated with service in mind, like the good old days of Las Vegas,” he said.  “This is a family-owned company that cares about its customers and employees. The rumors about us not opening or about when we’re going to open, that’s past now. We’re very comfortable now that we’re going to open during the summer of 2021.”

It’s exciting to hear the new details about Resorts World Las Vegas. Hopefully, the casino-resort is as great as the owners believe it will be.

More Venues Set to Open in Las Vegas

The best casino-resorts in the US can be found in Las Vegas. Recently, several major companies have begun working to open new gambling venues in this city. One is the new Virgin Hotel, which will open where the Hard Rock Hotel & Casino once sat.

The Hard Rock was sold the Virgin Hotels in March of 2018. It’s Virgin’s first major gambling venue. The company has hired several experts in hotel-casino design and want this property to be one of the best located off the Strip. It will open in 2020.

The MSG Sphere is another exciting venue that’s opening in Las Vegas. This isn’t a hotel-casino. Instead, it’s a massive entertainment venue that will host many of the world’s best musicians and performers. It’s expected to open in 2021.

Over the next few months, more details about Resorts World Las Vegas are likely to come out. Soon, we may even start seeing pictures of the resort’s interior.

Stay tuned for more Las Vegas casino news over the next few months!