Las Vegas NowCasino Win, Visitor Numbers See Steep Drop

Casino Win, Visitor Numbers See Steep Drop

Visitors to Las Vegas have declined again. The Las Vegas Visitors and Convention Authority reports a 10-percent drop in tourists from this time last year. Those who are still coming to town seem to be backing off of betting, which is hurting the casinos.

Last month, Nevada casinos saw a 22-percent drop in revenue. That's the largest single month drop in recorded history.

In southern Nevada, the most significant drop was in North Las Vegas, where gaming revenue plummeted 34-percent. The Boulder Strip wasn't far behind, falling 28-percent.

The Las Vegas Strip saw a decline of nearly 26-percent, while Downtown fell almost 20-percent. Mesquite and Laughlin also posted double digit drops.

This is the 10th straight month of declines for Nevada gaming. Analysts say there are several factors for the record decline, including low consumer confidence, the unstable stock market and increasing unemployment rates.

"Consumer confidence has fallen dramatically," Control Board analyst Frank Streshley said. "We're comparing this October with a very strong month a year ago, and there also has been a large, double-digit decline in the volume of betting, plus low 'hold' percentages on games."

Streshley singled out baccarat, which had a decline in win of 63-percent statewide during October. He said the 'hold,' or amount of money bet on the game that stays in casino coffers, was 8.2-percent compared with an average of 12-percent.

Two areas in the state actually had an increase in gaming wins. Carson-Gardnerville-Minden and Churchill both posted single digit increases.

Some casinos are pulling out all the stops to bring in visitors. Terrible's Casinos in Primm is offering a Freecation for locals. The promotion includes a free night's stay at Buffalo Bill's, Whiskey Pete's or Primm Valley Resort. It also includes two all-day passes for the roller coaster and other attractions and two tickets to a burlesque show at Whiskey Pete's.

Casino officials hope getting people in the door with such great deals will encourage them to spend in other areas. In addition, several strip resorts are offering deals for rooms, shows and restaurants.

(The Associated Press contributed to this report.)