Las Vegas Strip Casino Gambling Revenue Surges 32% in June

Las Vegas Strip casino gambling surged 32 percent in June as a recovery in the biggest U.S. betting city strengthened.

Strip betting revenue rose to $506.7 million, Nevada’s Gaming Control Board said today in an emailed statement. Gambling climbed 8.5 percent in the first six months of 2011 from a year earlier.

Las Vegas is staging a broad-based recovery from its steepest gambling and convention decline, MGM Resorts International (MGM) and Caesars Entertainment Corp., the two biggest casino operators on the Strip, said this week. Room rates have increased at most resorts and visitors are spending more on food and entertainment as tourists and conventions return.

Executives at Wynn Resorts Ltd. (WYNN) and Las Vegas Sands Corp. (LVS) have also said business in their home city is strengthening.

Revenue for all Nevada casinos jumped 16 percent to $885.7 million in June, the board said. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, rose 20 percent to $767.7 million.

To contact the reporter on this story: Beth Jinks in New York at bjinks1@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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