Las Vegas strip sets gambling revenue record

Oh, what a quarter it turned out to be in Sin City. With quarter four here for businesses around the world, with the new year right around the corner, the Las Vegas strip sets gambling revenue record with the latest numbers that have come in for quarter three. According to an article published this week by Forbes, the Las Vegas strip brought in more than $2 billion this past quarter.

The previous record was $1.8 billion in terms of revenue. Few people thought that number would be able to be topped, but the amount for this quarter was actually $2.1 billion. That’s simply an unreal number and an amount that certainly has not only the city excited in terms of revenue, but also the entire state of Nevada as a whole.

If you ask Brendan Bussmann who covers the gaming industry, the success for the Las Vegas casino really comes as no surprise. In the late summer and early fall, countless folks make their way to the strip. On top of that, people were jacked up to travel due to the restrictions being lifted across the country in the USA. There’s no better place to visit and enjoy Las Vegas sports betting than the strip.

“It makes sense—there’s been tons of pent-up demand and the third quarter was kicked off with events in Vegas like Garth Brooks, Bruno Mars and the McGregor fight and it ended with the Raiders,” Bussmann said on the unreal numbers recorded in quarter three by the Las Vegas strip. “It shows Vegas is not only back but shows its resiliency.”

Nevada as a whole keeps smashing gambling records

As you might have been able to guess, Nevada as a whole keeps smashing gambling records left and right. According to local reports, Nevada put up an insane quarter. This included a September to remember in quarter three, with Nevada posting a single-month record of $1.2 billion in gaming revenue. That is simply sensational and goes to show how strong the state is doing.

“I don’t see it stopping in the short term, but I want to see what happens with the economy,” Bussman told Forbes. “The two biggest challenges going forward include a potential covid resurgence, which would lead to closures, and the other concern is the U.S. economy. With fuel prices up, inflation and supply chain costs going up, these can make the consumer’s wallet more limited and have an impact on travel.”

Per Bussman, he strongly believes how things shape out with the coronavirus could have a major impact on if these numbers can continue to climb in the long haul. He does make a great point here, though. The reason Nevada and the Las Vegas strip have been able to put up such big wins in terms of revenue is because folks have been able to travel and cases are going down.

With that said, the winter months are almost here and that could spell trouble. Imagine if the cases end up rising again and then restrictions are brought back? This could result in folks not being able to fly so freely as they’ve been able to in recent months. It goes without saying, but that would have a drastic impact on how things go not only on the Las Vegas strip, but Nevada in general as well.

Return of football has played a massive role in the betting numbers

Another obvious point here is that the return of football has played a massive role in the betting numbers going up and up with consistency. There are few things folks enjoy more than checking out the best NFL betting sites or college football odds in the fall via the Las Vegas sportsbooks and then placing a bet. Especially in Las Vegas, this just makes the journey even more exciting.

Fortunately for folks who already live in Las Vegas, the success of the Las Vegas Raiders this year has only made things even better in terms of placing their bets. Despite the fact that Jon Gruden resigned as head coach of Las Vegas, the Raiders have been led by the sensational play of Derek Carr. He has the team looking like a serious threat in the AFC the rest of the way this year.

As for college football, folks truly race to lay bets on all the different action. Whether it’s in the Pac-12, Big Ten, SEC, or the other Power-5 conferences, people get jacked up hitting big on their bets. This is only going to continue, as the NFL season doesn’t end until early February, while the National Championship for college football takes place in early January. The games aren’t even close to ending.

This is good news for Las Vegas as a whole, especially with their huge amount of revenue they’re bringing in. This should continue going. As stated above, though, the thought of the pandemic returning has folks on the strip a bit nervous. With that said, all people can do right now is try and stay optimistic. The Las Vegas strip will continue to host folks while they can, and make plenty of money in the process.

 

Peter Lewis

Peter Lewis Jr. comes from Mississippi where he and his family spend their days discussing college football and basketball. He's written sports journalism for years after studying journalism at a local university.