Las Vegas is no stranger to new developments. It seems like every single year, several new projects begin in this city. Recently, the Las Vegas North Strip has begun to transform. A number of exciting new projects are now under construction here.
Today, we’re going to look at some of the biggest changes coming to this area of the Las Vegas Strip. We’ll also talk about how much gambling revenue this city is earning right now. Let’s get into it!
SLS Las Vegas Officially Renamed the Sahara Las Vegas
The Sahara Las Vegas Hotel & Casino first opened its doors in October of 1952. For years, it was one of the most popular gaming establishments in the city. Unfortunately, in 2011, it was forced to close due to financial constraints.
Shortly afterward, the hotel-casino was rebranded to the SLS Las Vegas. This hotel officially opened in 2014 with 1,600 rooms, a renovated casino, and four nightclubs. It was an impressive venue, yet the SLS continued to struggle pulling in visitors.
Finally, in 2019, the hotel announced that it was going back to its iconic roots. The SLS Las Vegas was officially renamed the Sahara Las Vegas once again. This famous hotel officially reopened on August 29th of this year.
Part of the reason to rebrand the hotel is to drive in more visitors to the Las Vegas North Strip area. The northern area of the city is one of the least popular parts of the Strip, due partly to the lack of luxury hotels and entertainment options. Fortunately, this is beginning to change.
Las Vegas North Strip Area Begins to Change
The recent recession wrecked the north part of the Las Vegas Strip. After the recession ended, this area was filled with unfinished projects and unpopular gaming venues. In recent years, however, this section of the city has started to transform.
One of the biggest projects opening in this area is Resorts World Las Vegas. This mega-resort is owned by Genting Group, who have invested billions of dollars to create the ultimate Las Vegas gambling and entertainment venue. Resorts World has faced numerous issues and delays during its construction, yet it’s now slated to open by the end of 2020.
In 2007, developers began working on the Fontainebleau Resort in the Las Vegas North Strip area. Unfortunately, the recession forced this project to stop. Now, several investors have resumed plans to open a hotel-casino here. It’s being named The Drew Las Vegas and will feature 95,000 square feet of gaming space and more than 2,800 hotel rooms. Hope is that the project is completed by 2022.
It’s a very exciting time for this part of the city. It’s not the hottest part of the city right now, yet the numerous projects coming here could change this. Fortunately, gambling revenue in Las Vegas is beginning to increase.
Las Vegas Gambling Revenue Continues to Increase
According to new reports, Las Vegas’ gambling revenue has increased for the second straight month. It’s a relief for many casino operators here, many of which have seen revenue losses for most of 2019. Interestingly, slots and poker helped to drive the majority of this revenue.
In a press release, the city’s gaming board stated that overall gaming revenue was up 2.91% in July compared to the same period last year. The Strip brought in the most money ($541,804,525) and an increase of 1.63% compared to July of 2018. Part of this revenue increase comes from the recent World Series of Poker event in Las Vegas.
The 50th edition of the WSOP brought in more entrants than ever before. More than 8,500 players competed in the event in total. This competition also helped to attract many gamblers to the city.
Las Vegas Gaming Board member Michael Lawton claims that slots brought in the most revenue in July. He also claims that slot revenue has been on a “constant increase” for the past several months.
Things in Las Vegas are looking good. The Las Vegas North Strip is beginning to transform and several other major projects will soon open in other parts of the city.
Stay tuned for more Las Vegas news updates over the next few weeks!