The winter holidays have finally arrived! Most analysts are now expecting a massive wave of tourists looking to experience Thanksgiving in Las Vegas. It seems this could be one of the most successful Thanksgiving weekends in recent history for this city.
Things were far less than ideal in Las Vegas just one year ago. A lot has changed since that time. Now is a great time to talk about how the holidays could affect the casino industry here moving forward.
Let’s get into it!
Analysts Expect a Wave of Tourists Heading to Thanksgiving in Las Vegas
If 2020 proved anything, it’s that Las Vegas is a city that relies on tourists. When visitors stop making the trip to this gambling and entertainment hub, much of the economy shuts down. Fortunately, tourism rates here have been high through nearly all of 2021.
The holiday season has arrived and, historically speaking, this results in high tourism rates in Las Vegas. Nearly all of the health restrictions set in place in 2020 have been removed. As a result, many analysts predict that a huge surge of tourists will choose to enjoy Thanksgiving in Las Vegas this year.
Many things will contribute to the rise of tourism during this week’s holidays. That includes the reopening of the famous buffets across Las Vegas. Amanda Belarmino, a UNLV hospitality professor known for her analysis of the economy in Las Vegas, believes this will bring in many visitors over Thanksgiving this year.
“I would expect this year to be similar to what we usually see, lighter demand that we have been seeing throughout this year but with a fair amount of travel to see family members here,” she said. “Also, the reopen(ed) buffets will attract people who want to get together without cooking.”
A few days remain until Thanksgiving and hotels in the city continue seeing a major increase in bookings. We’ll be sure to report on the number of tourists making the trip here as the months go on!
Las Vegas Casino Revenue Remains High Through 2021’s Q4
At the start of the year, gaming analysts seemed torn as to how successful the casino industry in Las Vegas would fare over 2021. Some felt it would take years to recover from the events of 2020. Others felt that the removal of health restrictions would lead to a major, quick surge of tourism and revenue.
The latter group proved to be correct. Las Vegas is having its best year in history in terms of overall gaming revenue. This trend is continuing through the year’s fourth quarter and casino companies here continue to report impressive revenue figures.
Reports on Nevada’s gaming revenue for October have not yet been released. Most analysts are predicting another great month. Many other states around the country have released their revenue reports for the month and nearly all have seen large increases in GGR.
There is certainly reason to believe that Las Vegas will continue to thrive in 2022. Casinos here are already preparing to bring back some of the amenities shut down last year. Several major musical acts have also announced their plans to resume residencies in the city.
The city’s latest GGR reports are expected to come out within the next few days. Stay tuned for a detailed analysis of these reports!
Most Casino Hubs Report Massive Growth in 2021
Las Vegas is not the only major casino destination to report impressive revenue figures throughout the year. Most of the country’s biggest gaming hubs have done the same. In fact, the American Gaming Association claims 2021 will be the best year in history for the US gambling industry.
Atlantic City is one place experiencing incredible growth in its casino industry. Not long ago, the New Jersey Gaming Commission released revenue reports for 2021’s third quarter. Some were surprised to see that the casino industry here brought in double the amount of revenue during this time when compared to the same period in 2020.
Louisiana is home to one of the largest casino industries in the Southern United States. This past October, the casinos here brought in 21.8% more revenue than October of 2020. The arrival of sports betting this month will help to fuel tourism to casinos leading into 2022.
It’s an exciting time for the US gambling industry. A huge number of states are currently working to expand their casino industries. Sports betting is also making its way to even some of the most anti-gambling states in the country.
Do you expect to see a wave of tourists looking to enjoy Thanksgiving in Las Vegas this year? How will the casinos here fare in 2022? Let us know in the comments section below.