February 21, 2024

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2023 Record-Breaking Year For Gaming And Tourism In Las Vegas

2 min read
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Las Vegas has witnessed the breaking of all previous records in 2023 with regard to the massive influx of tourists as well as the gaming space. Analysts are now predicting a further rise in 2024 in terms of revenue collection.

Added to that are factors related to the inking of more lucrative deals, as well as more enhanced events and the introduction of fresh resorts, all leading to making Las Vegas the ultimate destination.

As per a gaming analyst connected with Las Vegas’ B Global, Brenden Bussmann, Las Vegas, on the whole, seems to be witnessing a never-ending upward trend in every field. The founding partner of Las Vegas’s strategy organization, Josh Swissman, seems to agree with Bussmann in every way and is equally optimistic.

Durango, the newest property to Red Rock Resort, and the north Strip Fontainebleau were both unveiled roughly concurrently at the time. J.P. Morgan analyst Joseph Greff seems to like Durango. In his opinion, the atmosphere is just electrifying and upbeat, and the dining facilities are equivalent to the Plaza Hotel in New York City, one of the most recognized. Both the sportsbook and the accommodations were positively received.

Fontainebleau came after this. It is a property costing $3.7 billion, a resort with a height of 67 stories. Following various ups and downs, the property was finally purchased by the CEO of Fontainebleau Development, Jeffery Soffer, in 2021.

Above all, there was the delivery of a $2.3 billion sphere, a 17,500-seat live entertainment area that celebrated the 4th of July in grand style. With a height of 366 feet and a width of 516 feet, it is said to be the tallest structure ever built. It has a 4-acre screen that surrounds the platform, as well as a 580,000-square-foot exosphere that serves as the external LED screen, which is larger than possible.

The Formula One Las Vegas Grand Prix certainly added to the overall glitz, but its returns are yet to be calculated. The highlighting feature was, however, the fact that properties like MGM Resorts International, Caesars Entertainment, and Wynn Resorts Ltd. witnessed a temporary easing of the ongoing strike by hordes of workers, all due to the enormous influx of visitors.

Along with all the excitement, 2023 also witnessed cyber attacks on MGM and Caesars Entertainment. As per sources, the matter is still under investigation, and nothing substantial has been divulged so far.

Other happenings included Penn Entertainment going in for a $206 million project with a 384-room tower at the M Resort.

Despite this, all eyes will be on Super Bowl 58, which will be staged in Allegiant Stadium in February 2024. Everyone’s expectations are being raised as a result of this.

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