Clark County, home of Las Vegas and environs, took in 84% of the state's July 2007 total, or $964.7 million, a 13% increase from last year. Casinos along the Las Vegas Strip accounted for approximately 63% of the county's total, or $606.8 million, a 14.13% increase from July 2006.

Even Downtown Las Vegas, which has been flat or declining for a decade, joined the fun, raking in $53.7 million in July, a 9.58% increase from the same month last year and its third positive performance in the past four months. The July 2007 total was the highest July total since 2004, when it was $54.5 million.

Gaming Control Board senior analyst Frank Streshley tells GlobeSt.com that reasons for the increase could include a recently completed refurbishment of the Golden Nugget property Downtown, a ramped up marketing effort and new condo developments increasing the daily population in the area. "Annual [gaming] revenue [from Downtown] is still below where it was 10 years ago, but it's trending in a positive direction," he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.