Las Vegas casinos experienced a strong month of July, as reported by the Nevada Gaming Control Board (NGCB) and Las Vegas Convention and Visitors Authority (LVCVA). Gaming revenue continued to grow, and there were signs of a rebound in leisure travel.

The NGCB’s July revenue report reveals that Las Vegas Strip casinos won more than $776.3 million from players, which is a 3.6% increase from the previous year. The month saw positive results in blackjack, with a 39% increase to $87.6 million, an 11% gain in craps to $31.7 million, and steady baccarat volume and handle, up 2.2% to $116.6 million.

July marked the Strip’s fifth consecutive monthly gaming revenue gain in the last six months.

According to John DeCree, the director of equity research at CBRE Global Gaming, July would have been even stronger if baccarat players had not been so lucky. While baccarat drop increased by 43% year-over-year, low hold limited house revenue.

Barry Jonas, a gaming analyst with Truist Securities, mentioned that total casino win on the Strip excluding baccarat was up by 4% year-over-year, reflecting the health of the mass market, as baccarat play is primarily driven by high rollers.

Clark County reported gross gaming revenue (GGR) of $1.17 billion in July, showing a 1.5% gain. Downtown Las Vegas, however, saw a decline in casino win of almost 9% to $68.5 million.

Leisure Visitors Return

The LVCVA reported an increase in guest volume at Las Vegas Strip casinos, with approximately 3.17 million visitors in July, marking a 2.7% growth. While convention attendance was lower by 5.6% during the traditionally slow summer period, leisure demand showed improvement.

Las Vegas visitation is gradually improving, with year-to-date (YTD) visitor volume up by 0.5% over the past seven months. More than 22.75 million people have visited Las Vegas this year, with a strong convention calendar contributing to the overall increase in volume despite July’s challenges.

Occupancy at casino hotels in Las Vegas improved modestly compared to last year, reaching 77.2%, with weekend occupancy higher at 89.1%. The average daily rate for a room on the Strip also increased by 1.7% to $167.40.

Spirit Continues Hampering Airport Business

The grounding of Spirit Airlines has had a negative impact on Harry Reid International Airport in Las Vegas, with 4.4 million arriving and departing travelers reported, a 7.6% decrease from the previous year.

Spirit Airlines served over 446,000 fliers in and out of LAS last July. The airline, which was a key base in Las Vegas, ceased operations in early May.