Visitors return to Las Vegas but gamble less
August 2 , 2013
Given that the number of visitors in Las Vegas hit a record last year proves that the U.S. survived recession. However, more than 39.7 million visitors in the city in 2012 spent less money per trip compared to those 39.2 million people who visited Vegas in 2007.
The total revenue from gambling and entertainment was $15.3 billion in 2012, which is $500 million less than the revenue in 2007. According to David G. Schwartz, the director of the Center for Gaming Research at the University of Nevada, the Strip is packed but people aren't spending as much as they used to.
Tourists are now more likely to spend money on pricey nightclubs and luxury shopping than devoting themselves to gambling. Stephen P.A. Brown, the director of the Center for Business and Economic Research said that Vegas has now become one of the many gaming destinations in the country but it is holding up as a tourist destination.
Kevin Bagger, the director of marketing for the Las Vegas Convention and Visitors Authority said his agency's study pointed out the reason for concern, which is regarding the amount an average consumer in Vegas spends on gambling. The amount has gone down to $480 from the previous $650.
He said people are still cautious with their spending. "That said, we are thrilled to see people here."