Las Vegas Strip Casino Gambling Revenue Rises 5.1% in 2011

Las Vegas Strip casino gambling revenue rose 3.6 percent in December, bringing the full-year gain to 5.1 percent for a second annual increase as a recovery in the biggest U.S. betting city strengthened.

Strip betting revenue rose to $518.4 million in December from a year earlier, Nevada’s Gaming Control Board said today in an e-mailed statement. For the full year, Strip casinos won $6.07 billion, from $5.78 billion in 2010.

Las Vegas is recovering from its steepest gambling and convention decline, casino operators such as MGM Resorts International (MGM) and Caesars Entertainment Corp. have said. Proceeds for Strip casinos climbed 4.1 percent in 2010, after record declines of more than 9 percent in 2008 and 2009.

Revenue for all Nevada casinos increased 2.1 percent in December and 2.8 percent in 2011, the board said. Proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, rose 1.2 percent for the month and 3.5 percent for the year.

Convention attendance climbed 9.2 percent in the 11 months through November, total visitors rose 4.4 percent and average daily room rates at hotels gained 11 percent, the Las Vegas Convention and Visitors Authority said on its website.

Passenger traffic at Las Vegas’s McCarran International Airport rose 4.4 percent in the first 11 months of 2011, according to Clark County Department of Aviation data. The airport counted 38.3 million arrivals and departures.

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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