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Vegas Strip gambling revenue falls for 7th straight month
2008-09-10
Las Vegas Strip casino gambling revenue fell for the seventh straight month in July as cash- strapped U.S. consumers curbed entertainment and travel spending.
Gambling revenue on the Las Vegas Strip declined 15 percent to $519.2 million, Nevada's Gaming Control Board said today in an e-mailed statement. Las Vegas Sands Corp., MGM Mirage and Wynn Resorts Ltd. dropped in New York trading.
Casino revenue at the largest U.S. gambling center fell 6.7 percent to $3.71 billion this year through July as U.S. consumers struggled with higher gasoline and food prices, declining home values and job losses.
The largest U.S. gambling center may turnaround "sometime in 2010," MGM Mirage Chief Executive Officer Terrence Lanni said Aug. 27. Las Vegas' slump prompted Boyd Gaming Corp. to delay construction of its $4.75 billion Echelon resort Strip development and triggered a series of creditworthiness reviews of companies with business in the city by Moody's Investors Service Inc.
Revenue for all of Nevada retreated 13 percent to $997.3 million in July. Proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, fell 15 percent to $819.7 million, the data show.
Las Vegas Sands dropped $4.08, or 9.9 percent, to $37.24 at 10:17 a.m. in New York Stock Exchange composite trading. MGM Mirage declined 5.6 percent to $30.76, while Wynn fell 4.8 percent to $81.10. |
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发表于 2008-9-12 09:28
