Vegas Strip will struggle to maintain today’s revenues

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The Las Vegas Strip is heading for a decline in revenues next year, according to local newspaper The Nevada Independent.

Despite a 12-month record that saw gambling revenues breaking records – July last year saw the pinnacle of $792.6m – it will go down as much as 10 per cent during 2023.

The forecast comes from Fitch Ratings Service gaming analyst Colin Mansfield, who based the assessment on the demand for leisure travel weakening as part of a broader economic slowdown.

He suggested that the record-breaking months of the past year was a reaction to the ending of the pandemic and cannot be sustained.

“The market is far above pre-pandemic revenue levels. But when you take into consideration the headwinds that are starting to play out, we got to a point where we said, ‘there’s more downside here than upside,’” Mansfield said in an interview.

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