Tuesday, November 29, 2022

Vegas tourism rebound is boosting strong Nevada economy numbers

LAS VEGAS ( Associated Press) – Nevada’s tourism economy is putting the coronavirus pandemic behind it, with regulators reporting the best casino win ever for February and the airport serving Las Vegas allowing nonstop international flights in April. Resumption plans have been announced.

The Nevada Gaming Control Board reported Wednesday For the 12th month in a row, Casino House earned $1 billion or more in winnings, a key index of the state’s economic health. The state recovered about $59 million in casino taxes based on this figure, a 34% increase from a year ago.

“This month’s results were supported by an incredibly active entertainment and sporting calendar,” said board senior analyst Michael Lawton. He said Las Vegas hosted the NHL All-Star Game, the NFL Pro Bowl and a return to “a traditional Super Bowl party atmosphere” with COVID-19 restrictions that included mask requirements on March 10.

The $1.1 billion in 433 casinos won across the state in February was down from the record $1.36 billion set last July.

According to the Las Vegas Convention and Visitors Authority report, the number of visitors to Las Vegas increased dramatically compared to a year ago, from 1.54 million in February 2021 to 2.6 million. Posted Wednesday. It was still down more than 21% compared to the pre-coronavirus month of February 2020.

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Harry Reid International Airport On Tuesday, monthly passenger traffic reported more than doubled in February from a year earlier, with 3.3 million incoming and outgoing passengers.

This was only 13.5% down from the 3.8 million passengers in February 2020 – last month casinos and businesses were closed for more than two months to curb the spread of COVID-19.

The airport – formerly called McCarran International – announced that 16 airlines would begin nonstop service in the coming weeks to cities in Mexico, Canada, Panama, the Netherlands, Germany, Switzerland and the United Kingdom.

Flights from overseas however closed during the coronavirus pandemic, and the Las Vegas airport swelled to just 8,000 international passengers in February 2021 after handling about 268,000 in the same month a year earlier.

“International travelers are a critical component to the full recovery of an overall trip to Las Vegas,” said Conference Authority Marketing Vice President H. Fletch Brunelle. “We are thrilled to welcome additional routes from Europe.”

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The unemployment figures are also inverting with the State Employment, Training and Rehabilitation Department. Reporting a statewide unemployment rate of 5.1% last month.

This figure reached 30.1% two months later, compared to a record low of 3.6% in February 2020, before the coronavirus shutdown.

Lawton, who has analyzed casino winnings for 12 years, noted strong casino activity on the Las Vegas Strip, even without travelers from Asia being able to fly to celebrate the Lunar New Year. . He attributed this to “the underlying strength we are seeing from locals, domestic customers and leisure travelers.”

The sports pool won nearly $31 million and the number of sports bets made in February set a record, but a streak of four straight months of sportsbooks ended with $781 million in bets totaling more than $1 billion.

Lawton said about two-thirds of sports bets in February were made by mobile apps.

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