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Las Vegas Economy Gets March Madness Boost

Posted on April 29, 2022April 29, 2022 by Ronald Lowe

Nevada casinos reported near-record winnings in March. At the same time, Las Vegas Airport announced that its passenger traffic has almost reached pre-pandemic levels. 

Due to such large attendance, Nevada Gaming Control Board (NGCB), announced that casinos across the state had reached $1.35bn. This is close to the $1.36bn monthly record. 

The house-slot machine wins records have been broken, and the Las Vegas Strip has the record for the most monthly slots winnings. 

NGCB Senior Analyst Michael Lawton commented that “a traditional ‘March Madness’ atmosphere returned” following the removal of all Covid restrictions, including mask wearing.

Sports betting was dominated by a NASCAR race and mixed martial arts battles. NCAA basketball tournaments were also held in March. From $863m in wagers, sportsbooks won almost $40 million.

The Las Vegas Convention and Visitors Authority reported that March saw a nearly 50% increase in Las Vegas visitors, with numbers exceeding 3.3 million. This observation also noted that there was a rise in trade shows, and that the hotel occupancy around Las Vegas was above 80%.

Nearly 4.3 million people used Harry Reid International Airport in March. That’s a decrease of just 140,000 passengers from the March 2019 pre-pandemic.

Numbers of international travelers reached 154,000. This is more than 50% increase since February. In April, additional routes will be opened to Mexico, Canada, Panama and Switzerland. 

Nevada received nearly $98m in taxes from March’s casino winnings. This stream of income is an important source of revenue for Nevada, accounting for around 17% overall state revenues.

Denmark’s gross gaming revenue (GGR) for March experienced an almost 30% year-on-year rise, according to figures published by the Danish Gaming Authority (DGA). GGR increased to DKK 525m (74.5m), amid ongoing…

The Advertising Standards Authority (ASA), has announced that new rules will severely restrict the advertising of gambling to celebrities and athletes. The UK’s advertising regulator…

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