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Visitor Volume, Occupancy, Gambling Fall Fast

LAS VEGAS-All metrics for judging the performance of casino-resort market here decline sharply, according to the latest data from the Convention and Visitors' Authority.

By Brian K. Miller | Updated on September 15, 2008

LAS VEGAS-If it has to do with the casino resort business here the numbers are falling fast, according to the Las Vegas Convention and Visitors Authority, which just completed its round-up of July data on the industry in Clark County, which includes the greater Las Vegas area. Visitor volume is down by car, by plane and overall. Hotel occupancy is down along with the average daily room rate. And, of course, fewer visitors mean less money is being lost in the casinos.

Visitor volume was off 4.6% to 3.22 million, down approximately 155,000 from the same month in 2007. Hotel occupancy fell precipitously, dropping 470 basis points to 91.3% from 96%. The average daily room rate fell 10% to $105.97 from $117.76. Gaming revenue – the amount gambler lost in casinos, fell 15% to $819.68 million from $964.72 million in Clark County as a whole. Within that percentage is 21.81% drop in North Las Vegas, an 18.89% drop along the Boulder Strip and a 14.67% drop along the Las Vegas Strip.

Continuing on the down the data sheet, the total number of airplane passengers getting off in Las Vegas fell 8.6% to 3.92 million from 4.29 million. Within that number is a 13% drop in charter and international passenger traffic, which runs counter to the theory that international gamblers are offsetting the loss of domestic gamblers. Finally, auto traffic at the Nevada-California border on Interstate 15 fell 6.4% to 89,717 from 95,848.

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