Las Vegas Strip revenue rose 29 % in May
Pacquiao is the biggest draw in Vegas, Lawton said in an interview. An Ultimate Fighting Championship match, a weak year- ago comparison, when revenue fell more than 6 percent, and calendar-related factors also bolstered results, he said. The gain was higher than he expected, and helped push Strip gambling into positive territory for the year.
“I don’t want to say we’re back, but this was definitely a step in the right direction,” Lawton said.
Activity on the Strip is also helping drive business to local markets including North Las Vegas and the rest of Clark County, he said.
MGM Resorts International (MGM), the largest casino operator on the Strip, fell 89 cents, or 6 %, to $14.07 at 4 p.m. in New York Stock Exchange composite trading. Las Vegas Sands declined $2.07, or 4.5 %, to $43.94, while Wynn Resorts (WYNN) lost $4.34, or 2.7 %, to $156.81 on the Nasdaq.
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