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Nevada Gambling News Brief

Las Vegas Strip gambling revenue gained 16% in October

Bloomberg.com,  Thursday, December 9, 2010 at 12:32:41 PM

Las Vegas Strip gambling revenue rose 16 percent in October, as the biggest U.S. casino city emerges from a record two-year slump.

Revenue jumped to $494.8 million from $426.3 million in the same month a year earlier, Nevada's Gaming Control Board said in an e-mail today. Growth accelerated from 2.8 percent in September. Strip casino proceeds increased 5.4 percent in the first 10 months of this year.

Las Vegas is recovering from its steepest gambling and convention decline, which had exacerbated a drop in hotel room rates. MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts Ltd., the three biggest publicly traded Las Vegas-based casino owners, said the worst had passed during their most recent quarterly earnings announcements.

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