Clark County Gaming Revenue-August Increase
Anomaly or the start of a trend?
Posted: October 08, 2010 by John McClelland
Clark County gaming revenues leapt month-over-month by over 16%. That is the second month-over-month gain this year and a 13.8% increase year-over-year. Naturally there is a random component to all of this so we cannot say it is a trend. We need a few more months before I would call it a recovery. Pronouncements by the public gaming firms are going to be enthusiastic but are not likely to be jubilent as they need to balance nice looking projections against a backdrop of shaky national economic news.
Bloomberg is reporting that Las Vegas has exhibited a sign that it is emerging from the slump. I hope this is true and is certainly a pleasant measure after a time when "less worse" was almost good news. Let us wait and see a few more observations before we get to excited. Meanwhile, focusing on obtaining good real estate while we are still in the slump should be top priority for both yield seeking investors and those with a long-term outlook for appreciation.
For the Valley, gaming revenue is a giant driver of economic activity so it is an important series to track.
