"Las Vegas Strip gambling revenue fell 9.6 percent in February, the fourth straight monthly decline as the city faces an uneven recovery after a record slump in the casino industry.
Revenue declined to $513.7 million from $568 million a year earlier, Nevada’s Gaming Control Board said in an e-mail today. Betting fell 6.3 percent in the first two months of 2011 from a year earlier.While Las Vegas is struggling, elsewhere in Asia has had gamers rolling in. Gaming Inspection and Coordination Bureau of Macao announced yet another significant year-over-year rise in gaming revenue. Gaming revenue in Macao rose 33%, 47.7% and 48% in January, February, March 2011 respectively.
Las Vegas is struggling to recover from record declines in gambling and convention revenue. Strip betting proceeds increased 4.1 percent last year, after dropping more than 9 percent in 2008 and 2009. MGM Resorts International (MGM), Las Vegas Sands Corp. (LVS), Wynn Resorts Ltd. (WYNN), and Caesars Entertainment Corp., the four biggest Las Vegas-based casino owners, have said the worst has passed.
Revenue for all Nevada casinos fell 6.8 percent to $881.8 million in February, the board said. Monthly proceeds for Clark County, which includes downtown Las Vegas as well as the Strip, dropped 7 percent to $769.5 million. "