- Nevada blackjack revenue dropped 10% to $1.205 billion despite $9.3 billion in total wagers, as tourism declines and economic concerns reduce casino profitability.
- Las Vegas visitor volume fell 9% in September with international travel down 13.5%, forcing tourists to cut entertainment spending due to inflation and rising costs.
- Visitors are shifting spending from traditional table games to dining and entertainment, with the November Formula One Grand Prix viewed as a key opportunity for recovery.
LAS VEGAS — The tourism slump hitting Nevada's gaming industry could spell trouble for one of the state's most popular casino games as visitor numbers continue their downward spiral.
Nevada gaming revenue fell 2.2% in September to $1.28 billion, with the Las Vegas Strip posting a 5% decline to $687.8 million. The state saw visitor volume drop 9% to 3.09 million people, continuing a yearlong trend that has put pressure on casino operators.
Blackjack Revenue Takes a Hit
Blackjack tables are particularly at risk when fewer people visit them. Although players wagered $9.3 billion at legal blackjack sites in the last 12 months, the amount that the casinos kept was far less than it was in the past.
From $1.34 billion the year before, revenue dropped 10% to $1.205 billion. This suggests that even while there is a lot of betting activity, casinos are not profiting as much from those wagers because individuals have either become more fortunate or have made less wagers.
This reduction is due to shifting consumer behavior and more general economic problems rather than hot spells. Due to double-digit declines reported by major Canadian and Mexican carriers, travel outside has been notably affected, decreasing 13.5%.
Many travelers are cutting back on their entertainment expenditures due to ongoing inflation and increased concerns about a recession.
Changing Spending Habits
People are still traveling to Las Vegas, but they are less likely to spend a lot of time at the tables. There is less money available for gaming due to rising accommodation, food, and transportation expenses.
As players grow more cautious, the number of Nevada blackjack sites, including online platforms, is decreasing. In September, the total number of table games on the Strip decreased by 17.5%.
Vegas is changing; traditional casino games are losing ground to live entertainment, nightlife, and fine dining. Many visitors these days would much rather attend a show or play slots than spend hours at blackjack tables.
Analysts in the industry are concerned that the downturn will persist until the end of the year. A significant chance to entice gamblers to return to blackjack tables around the Strip is the Formula One Las Vegas Grand Prix, which is set for November 20–22.