Las Vegas expected to break all-time visitor record in 2012

(US).- According to a recent report by Moody's Investors Service, Las Vegas in 2012 is projected to break the all-time visitor volume record of 39-plus million visitors which was set in 2007.

2012-04-12

United States

Reading time 1:29 min

(US).- According to a recent report by Moody's Investors Service, Las Vegas in 2012 is projected to break the all-time visitor volume record of 39-plus million visitors which was set in 2007.

The Resorts and Casinos Industry have had an impressive first quarter. The Market Vectors Gaming ETF (BJK), which seeks to replicate as closely as possible the price and yield performance of the S-Network Global Gaming Index, is up almost 19 percent year-to-date.

The Paragon Report examines investing opportunities in the Resorts & Casinos Industry and provides equity research on Wynn Resorts and Caesars Entertainment.

"After suffering through a deep trough during the recession when visitor volume declined as new capacity came online, the Las Vegas recovery is under way," Peggy Holloway, a Moody's vice president - senior credit officer, said in a statement. "Hotels are benefiting from increased visitor numbers that permit higher room rates, while gaming revenues are recovering, albeit more slowly."

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Wynn Las Vegas was honored as the highest ranking casino resort on Fortune's 2012 Most Admired list in the hotel, casino, and resort category. The resort moved up two spots from last year, with an overall ranking of number 2 on the distinguished list. To create the list, Fortune asked businesspeople to rate companies in their own industry on nine criteria from global competitiveness to social responsibility. Wynn ranked high in several areas including innovation, people management, financial soundness and quality of services.

Caesars Entertainment Corporation recently reported financial results for the fourth quarter and year ended December 31, 2011. Net revenues for the fourth quarter of 2011 were us$ 2,172.4 million, up us$ 51.4 million, or 2.4%, from the year-earlier period.

The increase in net revenues was due mainly to higher revenues in Las Vegas, and from our international and online businesses, including revenues related to Playtika which we acquired during the year, partially offset by a decline in net revenues at properties in the Midwest and Atlantic City.