Las Vegas Casino and Hotel Market Outlook 2010 | By Shannon Okada

The impact of the downturn in the national and worldwide economies, and the resulting decrease in consumer consumption, was strongly felt by the Las Vegas gaming-tourism industry in 2009. Reversal of the declining visitation, average daily room rate, and gaming revenue exhibited in 2009 is not expected until consumer confidence and spending increase. While it is too early to tell what the effects of the opening of the $8.5 billion CityCenter complex in December 2009 will have on the market, year-over-year increases in visitation during the months of September, October, and November 2009 and the year-over-year increase in gaming revenue in November 2009 are potential indicators that the bottom of the cycle has been reached.