Nevada casinos see record performance as a sign of the resilience of the U.S. economy

Americans continue to visit casinos heavily, and it could be a sign that the U.S. economy is far from a recession. According to the latest data from the Nevada Gaming Control Board, the local entertainment industry generated $1.4 billion ($134.9 billion) in revenue in July. That’s a 7% increase over the same month in 2022.

Michael Lawton, an economist with the Gaming Control Board, sees slots as a major factor in the strong financial results. Revenue in this segment was the third highest total in state history and the second largest for the Strip in Las Vegas.

Growth in out-of-state travel is also helping to boost Nevada casino revenues. Harry Reid International Airport recorded more than 290,000 arrivals and departures of international travelers in July. This is the highest number since the COVID-19 pandemic began.

A good month increases the likelihood that the state’s gaming industry will have a third consecutive year of record results. Nevada casinos will bring in gross revenue of $13.4 billion ($1.29 trillion at current exchange rates) in 2021 and $14.8 billion (over $1.4 trillion) in 2022.

U.S. investment manager Jim Chanos has previously said that casino revenues can be seen as a reliable source of data.

Las Vegas Strip performance has been a pretty good leading/leading indicator of consumer demand in the US. Obr

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