Nevada rakes in over $1b for the 17th month, Circa opens meeting space, and Reno finally gets a new casino

Nevada rakes in over $1b for the 17th month, Circa opens meeting space, and Reno finally gets a new casino

another-1b-month-new-mice-in-downtown-vegas-first-new-casino-in-north-in-20-years-Nevada continues to hold onto its spot at the center of the land-based gambling universe with record-breaking revenue, reinvestment, and expansion. That’s not to say that Macau will never lead the world in casino revenue again.

However, with a host of government-induced style cramps already pulling strength from the previous revenue heavyweight, the former Portuguese enclave suffered from another Covid outbreak and government response recently giving the island its worst July in history revenue-wise at just $49.2m – a 95% drop.

Nevada on the other hand posted its 4th highest monthly revenue figure ever for July at $1.31 billion with the month producing the second highest month in history for Strip casinos. That strong July gave Nevada its 17th consecutive month of revenues in excess of a billion dollars.

Last July saw a one-month all-time record of $1.35 billion. While this year’s numbers are down a little over 3% from the record they are still nearly 30% higher than they wherein July 2019 before the world health emergency.

Michael Lawton, senior economic analyst at the Gaming Control Board told Forbes: “We were down this month, yet I don’t see any softness—it was down slightly against the all-time high.

“The bar was set really high last July. We didn’t hit it, but we still came in with the fourth highest total all-time statewide, second-highest total all time for The Strip.”

New 35k sq ft Meeting and Convention Space Downtown

Derek Stevens and his brother, Greg Stevens have almost singularly revitalized the gambling and other entertainment experiences in Downtown Las Vegas, starting with the purchase and renovation of Fitzgerald’s on Fremont Street beginning in 2011 after earlier taking a majority stake in the Golden Nugget just across a side street from what is now known as The D.

In October 2020 after almost half a decade of renovation and new construction, Derek Stevens opened Circa – the first newly constructed casino Downtown in four decades. This week, he announced the property’s new 35,000-square-foot meeting and events space has opened.

The new meetings and conventions, wedding receptions, and unique events space opened on Tuesday, August 30.

‘Since our opening, we have been working tirelessly to meet this next phase of growth and provide a remarkable experience for meeting planners and attendees,’ Stevens told Travel Weekly earlier this year. “At our core, we love to throw a great event, and we’ve thought through every detail to help you do that on any scale, with our resort as your backdrop,” said Stevens.

In a Tuesday press release, he carried the message further: “As the meetings and events industries continue to ramp up after the pandemic, we are thrilled to introduce our incredible facilities to downtown Las Vegas. It has always been our intention to add this to Circa’s repertoire, and we look forward to kicking off our first series of events in September.”

Circa’s meeting spaces offer groups top-tier, turnkey audio and visual capabilities and customizable rooms for up to 1,000 guests. Featuring a ballroom, breakout and banquet rooms, adjacent pre-function space, and a 1,600-square-foot outdoor terrace, the spaces are outfitted to complement Circa’s mid-century, art deco, and modern design motifs.

Look for unique environmental touches such as LED lighting and intelligent controlled, adaptive HVAC systems. Additional tech includes 16K LU laser projectors, audio tie lines, LED screens, patchable ethernet lines, quad outlets, retractable screens, and strands of patchable single-mode fiber in pairs on LC connectors.

Automobiles or other large equipment will have no problem making it to the third floor to be displayed in the cutting-edge environment thanks to a large freight elevator and the convention area has its own dedicated kitchen.

Reno Gets a New Casino

It’s been more than twenty years since a newly built casino opened in Northern Nevada’s Reno-Sparks community. Perhaps you’ve seen the Reno sign, Biggest Little City in the World. For years the area’s been in decline numbers-wise rather than progressing, having not really recovered from the 2008 era economic downturn. Banish those thoughts because Reno is back!

Legends Bay Casino at The Outlets at Legends, in Sparks, held a grand opening on Tuesday. Some of the highest elected officials in the state attended along with gaming executives, politicians, and guests from across the state.

Olympia Gaming CEO Gary Goett told the Reno Gazette Journal on Tuesday: “This has been somewhat long in coming, but we’re very excited to be here and share this project with the community.”

Source: Las Vegas: Circa Resorts & Casino opens its new 35,000-square foot meeting and convention space, YogoNet, September 1, 2022

Author: Henry Brown