Financial analysis website Seeking Alpha<\/a> reported a day after the race that Strip casinos specializing in baccarat saw an economic lift from three days of F1, which drew an estimated 150,000 additional visitors to Las Vegas.\u00a0<\/p>\n \u201cF1 for us is looking considerably better than it did last year,\u201d said Caesars Entertainment CEO Tom Reeg on a quarterly earnings conference call ahead of the race.<\/p>\n In a statement following the Grand Prix, BetMGM, the sports wagering arm of MGM Resorts International, said wagering on the race was 51 percent higher than the 2024 event.<\/p>\n \u201cCasino executives cited the F1 race as a needed injection for Las Vegas during what\u2019s usually a slow weekend on the calendar,\u201d Seeking Alpha wrote about the weekend before the Thanksgiving holiday. \u201cAnecdotal reports also indicated strong traffic at high-limit table games over the weekend.\u201d<\/p>\n Much of that was due to baccarat, which propelled the Strip to an 8.2 percent gaming revenue increase in October. That increase buoyed an otherwise sagging market facing declining airline traffic and visitation, though some analysts see reasons for optimism.<\/p>\n Regardless, when the Gaming Control Board releases the revenue results for November sometime between Christmas and New Year\u2019s Day, we\u2019ll know if customers in town for the Grand Prix left money behind at the Strip\u2019s baccarat tables or walked out with a hefty payday.<\/p>\n October\u2019s Strip gaming revenue total \u2014 $748.8 million \u2014 was the lone bright spot for the Las Vegas tourism market during the month. Following a down month in September<\/a>, revenue from baccarat increased 69 percent to $116.4 million. Casinos held 18.6 percent of the $625.5 million in baccarat wagers.\u00a0<\/p>\n Despite the gaming revenue increase, the Las Vegas Convention and Visitors Authority said overall visitation was down 4.4 percent, and passenger volume at Harry Reid International Airport fell 8.2 percent \u2014 the largest monthly decline for the airport this year.\u00a0<\/p>\n Still, there were some positive signs from the gaming numbers beyond baccarat, according to CBRE Equity Research analyst John DeCree. Slot machine wagering increased for the eighth consecutive month, while wagering on non-baccarat table games was up 30 percent.<\/p>\n Although DeCree told investors it was \u201cdifficult to confirm,\u201d he suspected that gaming volumes \u201cwere helped in part\u201d by the citywide \u201cFabulous Five Day\u201d<\/a> sale that took place at the end of September.<\/p>\n The 3.41 million visitors in October were the second-highest monthly total of the year behind May\u2019s 3.42 million. In a year when Las Vegas has seen more than 2.6 million fewer visitors than a year ago, the decline was also the smallest monthly reduction since January.\u00a0<\/p>\n DeCree suggested there were positive signs in the Las Vegas visitation numbers.<\/p>\n Convention attendance grew 8 percent to 604,000 due to the scheduling shift of the 30,000-attendee Oracle CloudWorld conference from September to October this year. The average daily rate for a hotel room on the Strip was $219.56 \u2014 the highest monthly average of the year. However, the figure is still down 5.5 percent from 2024.<\/p>\n \u201cWe are optimistic that the strong upcoming group and convention calendar will continue to support the improving trend,\u201d DeCree said.<\/p>\n Reid Airport, which drew a single-year record 58.4 million passengers in 2024, is headed toward its largest non-pandemic annual passenger decline since the Great Recession in 2009 and 2010.\u00a0<\/p>\n Overall passenger volume is down 5 percent through October to 46.3 million. International passenger volume fell 14 percent in October and is down 4.5 percent for the year. Spirit Airlines, which was the airport\u2019s second-busiest air carrier behind Southwest Airlines at the end of 2024, has fallen out of the top due to its ongoing bankruptcy reorganization.<\/p>\n \u201cWe still think it\u2019s too early to get more positive on Las Vegas,\u201d J.P. Morgan Securities gaming analyst Daniel Politzer wrote last week. \u201cFourth-quarter trends \u2014 including F1 \u2014 appear to have been in line with expectations. Our concern is that underlying leisure demand remains soft.\u201d<\/p>\n Resorts World Las Vegas says VIP program issues lead to quarterly loss<\/p>\n Issues rebuilding Resorts World Las Vegas\u2019 VIP program played a role in a 1 percent decline in third-quarter revenue to $175 million and a cash flow loss of $12 million, its Malaysia-based parent company said.\u00a0<\/p>\n Genting Berhad briefly addressed the Strip property\u2019s issues in a third-quarter earnings statement, adding the hotel-casino expects to benefit from increased convention attendance in Las Vegas next year.<\/p>\n In March, Resorts World paid a $10.5 million fine<\/a> in a settlement with state gaming regulators for violating federal anti-money laundering laws. As part of its settlement, Resorts World overhauled its VIP customer program with new management and procedures overseeing compliance with anti-money laundering practices.<\/p>\n In a statement<\/a>, Genting said Resorts World is reestablishing high-end play and \u201cbuilding a consistent casino loyalty base.\u201d The company said it has new casino management and hotel operations systems, which allow the property to own the hotel customer database and \u201cprovide real-time hotel offers and enhanced customer experience to guests.\u201d<\/p>\n Real estate deal finalized for City Center land\u00a0<\/p>\n Real estate investment trust Blackstone is selling an ownership stake in the Strip land associated with CityCenter for $800 million to San Diego-based Realty Income.<\/p>\n The land transaction \u2014 termed an equity investment \u2014 does not affect the management of Aria Resort & Casino or the non-gaming Vdara Hotel & Spa, which are operated by MGM Resorts International.\u00a0<\/p>\n Blackstone will continue to hold 100 percent ownership in the property. The deal does not require approval from Nevada gaming regulators because the gaming operations are not involved.<\/p>\n The deal is the second transaction between Realty Income and Blackstone, which paired up on a joint venture involving the land associated with the Bellagio two years ago.<\/p>\n What I’m reading <\/p>\n \ud83c\udfc8 Kalshi hit with nationwide class action over \u2018illegal sports betting\u2019<\/a> \u2014 Ben Horney, Front Office Sports<\/p>\n The lawsuit, filed in New York federal court, claims Kalshi has deceived thousands of consumers into using its platform.<\/p>\n \ud83e\udd20 Las Vegas Sands and the Adelson family still pushing for casino gambling in Texas<\/a> \u2014 Clark Schultz, Seeking Alpha<\/p>\n A new PAC was seeded with more than $2 million from majority shareholder Miriam Adelson.<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/12\/1f234ada-caesars-plaza-112324-1-1200x796.jpg\")
Fans gather around a replica Ferrari Formula One race car on display in the Caesars Palace plaza during the Las Vegas Grand Prix on Nov. 23, 2024. (Jeff Scheid\/The Nevada Independent)<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/12\/85481d34-encore-060925-3-1200x800.jpg\")
Resorts World Las Vegas on June 9, 2025. (Jeff Scheid\/The Nevada Independent)<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/12\/f2b0aaac-virgin-032025-11-1200x796.jpg\")
Virgin Hotels Las Vegas President Cliff Atkinson stands in the property’s sportsbook on March 20, 2025. (Jeff Scheid\/The Nevada Independent)<\/p>\n