Despite a six-month trend with decreasing gaming revenue to close in 2024, annual financial results for casino operators on the Las Vegas strip will be in line with some Wall Street forecasts, according to a financial company.
Chad Beynon, senior games, lodging and theaters analysts at Macquarie Capital, was encouraged by December’s gaming revenue published by Strip Casinos. Although the total was down years over years, the best the monthly figure estimated.
“We see the monthly results quite positively given that December included two fewer holidays (Verra) last year in addition to a tough comp with December 2024 that represents the highest ever monthly (gross game revenue) achieved on the strip,” Beynon and his team wrote in an investor’s note on Monday.
Analysts and industry experts gave context for the Strof’s half -year dip in gaming revenue, including difficult comparisons with 2023, which put several monthly items and high variations in Baccarat.
“Based on (2024 fourth quarter) Market data we estimate that Vegas Strip segments are set to report In-Line (fourth quarter) revenue,” wrote Beynon and led later: “Overall, we think Vegas looks less attractive than this one The time last year resulted in negative industry/business growth in 2024 and our expectations that this would continue in 2025, especially (during the first quarter).
The team at Macquarie also suggested that there could be any mergers of the gaming industry and acquisitions on the horizon “given dampened activities (real estate investment) in 2024.”
Below is a summary of game news.
Florida hard rock upgrade
Hard Rock International, the company that turns Mirage into Hard Rock Las Vegas, recently completed an upgrade of $ 65 million to Seminole Hard Rock Hotel & Casino Tampa.
Florida Resort, which is owned by Seminole Indian Tribe, revealed a new gaming area with 350 new slot machines from IGT and Las Vegas-based Light & Wonder at the casino, renovated 240 of the plant’s 802 non-smoking rooms and again opened its fresh harvest buffet.
The reopening of the buffet created 200 new jobs and brought the total number of employees to 4,293.
This year’s snake
Macao sets a tourism record with Kickoff by Lunar New Year’s “The Year of the Snake.”
During the first six days of the eight -day holiday season observed in China, Macao welcomed more than 1 million visitors. The Macao government’s tourist office reported 219,092 visitors on the first day of what is called the “Golden Week” holiday, a post-covid record for the Chinese game enclave.
Kentucky casinos
With a declining interest in horse -can in Kentucky, a state legislature has introduced a bill to legalize casinos in the state.
Rope. Thomas Huff, R-Shepherdsville, introduced legislation in January to allow land-based casinos and games on river boats in the state from 1 July.
The action is facing tough resistance from the Family Foundation of Kentucky, which opposes all forms of games.
If the bill is moving forward, Huff said that the election results would decide which counties would host casinos. Kentucky Horse Racing and Gaming Corp. would license and run each casino in the state.
Atlantic City Casino employees want action on smoking ban Bill
Casino employees in Atlantic City require action after one year of inactivity from New Jersey legislators to ban smoking in their workplaces.
In January 2023, a State Senate Health Committee voted for a proposed bill that would close the legal loophole that exempts Atlantic City casinos from NJ’s smoke-free air. Since then, the bill has not advanced despite insurance from legislators that measures should be taken.
“It has been a year since the Senate Health Committee voted to protect us from used smoke, and yet we are still waiting for action from the Senate’s leadership,” said Pete Naccarelli, a table career at Borgata Casino Hotel and co-founder of casino employees against smoking effects or ceasing to stop “Casino employees have waited long enough. How many more workers must get sick even though they never smoke a day in their lives before Trenton legislators will make plenty of their promises?
More than two-thirds of the New Jersey legislature is either a sponsor or sponsor for companions who would permanently ban smoking in Atlantic City Casinos. The state governor has said that he would sign the bill if it reached his desk.
“The votes are here, the support is here and it is time for our legislators to pass (the bill) now. We have been waiting long enough – it’s time to close this loophole and protect our health, ”said Naccarelli.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2vegas-danzis.bsky.social.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @Rickvelotta on X.
