{"id":1763140,"date":"2022-08-19T04:30:43","date_gmt":"2022-08-19T08:30:43","guid":{"rendered":"https:\/\/platogaming.com\/?post_type=station&p=1763140"},"modified":"2022-08-22T02:57:11","modified_gmt":"2022-08-22T06:57:11","slug":"fitch-analyst-las-vegas-gaming-revenue-to-decline-in-2023","status":"publish","type":"station","link":"https:\/\/platogaming.com\/plato-data\/fitch-analyst-las-vegas-gaming-revenue-to-decline-in-2023\/","title":{"rendered":"Fitch Analyst: Las Vegas Gaming Revenue to Decline in 2023"},"content":{"rendered":"
Las Vegas casinos could face a slowdown next year, with analysts predicting that the current gaming revenue boom will come to an end in 2023.<\/p>\n
Fitch Ratings Service analyst Colin Mansfield has predicted that Las Vegas gaming revenue could fall by as much as 10% next year as part of a broader slowdown in the US economy.<\/p>\n
Las Vegas casinos have bounced back quickly after the COVID-19 pandemic crushed the industry in 2020. Casinos in the city shut down for 78 days at the start of the pandemic, and Las Vegas Strip gaming revenue fell to just $3.7bn for the year, the lowest total since 1996.<\/p>\n
\na record $7.1bn in gaming revenue in 2021<\/p>\n<\/blockquote>\n
Few anticipated just how quickly the gaming industry would recover. Las Vegas Strip casinos pulled in a record $7.1bn in gaming revenue in 2021. In the 12-month period ending this June, that number grew to $8.1bn.<\/p>\n
More downside than upside<\/strong><\/h2>\n
Mansfield based his revenue decline predictions on the expectation of a broader economic slowdown. However, the analyst says that even if the economy avoids a recession, it will be difficult for Las Vegas casinos to keep up their current pace.<\/p>\n