Downtown Las Vegas Continues Hot Streak, Nevada Casinos Top $1 Billion in Revenue

Very good article on downtown Vegas ...

https://www.casino.org/news/downtown-las-vegas-continues-hot-streak-nevada-casinos-top-1-billion

So I wonder if also had to do with any of MGM & CET big casino charging parking fees, raising resort fees nickel and dime on everything??? I really do hope those big casino learns lesson but I doubt that .....they will continue to find other ways to charge more to its customers.

 

I think the economy might have more to do with it than parking issues.

 

I wonder if this has anything to do with the stingy offers coming from Boyd's these days.

 

There was an article within last week that "strip hotels" were charging highest room rate EVER per room than ever (within last year) average like $150 range.... and people are paying it not to mention number of visitors are setting new records..

 

So, there is no incentive to give us a bargain. Downtown will follow at some point.

 

A rising tide lifts all boats.

 

What's missing from the strip is new rooms coming online. I'm looking for a chart online showing room count growth but I'm having trouble. I feel reasonably confident to say that the rate has stagnated in the 2010's compared to the 1990s. Cosmo and Aria have come online but the strip has lost the Startdust, Riveria, Frontier, Westward Ho with nothing built in their place.

Mark my words. Room rates can eventually get to a point where money comes out of the woodwork to build new towers left and right. There's all sorts of buildable land inventory on the north strip and who knows what Derek has planned for Downtown on all the properties he just purchased.

 

Downtown up over 22 pct in March 2017 compared to March 2016 and up close to 19 pct for first three months of 2017 compared to first three of 2016.

https://www.reviewjournal.com/business/casinos-gaming/nevada-casinos-report-991m-gaming-win/