July 23, 2021
Even though Sin City is on it’s way back, an American credit rating agency says a full financial Las Vegas recovery should be complete by 2023.
Fitch Ratings, one of the “Big Three” credit rating agencies, says that a rebound from the pandemic is happening more quickly than expected, as evidenced by the recent billion dollar month. And indications are that the city will return to “normal” sooner than the previous 2024 forecast.
Part of the reason for the increased enthusiasm is the record revenue despite a pretty much absent convention industry. Many believe that business travel will increase dramatically by the end of this year, with even greater growth into next year.
Fitch Ratings noted that slot machine revenue has pretty much recovered, and that table games was currently down only 14%. Hotel revenue on the Strip was down 55% in March, but had fought back to just being down 30% by May.
For more on the Las Vegas recovery timeline and details, you can visit Casino.org
