from thestreet.com
by Jeanine Poggi
VEGAS (TheStreet) — Las Vegas tourism increased 4.3% in September, the first monlty year-over-year gain for the city since May 2008.
The Las Vegas Convention and Visitors Authority announced today that more than 3 million people visited the gambling hub during the month, compared with 2.9 million in the year prior.
On the downside, despite that monthly gain, for the first nine months of the year visitor volume has fallen 4.7%.
Shares of casinos with operations in the state were mixed at the end of the day. Las Vegas Sands (LVS Quote) was up 1% to $16.95, Boyd Gaming(BYD Quote)jumped 2.9% to $8.41, MGM Mirage (MGM Quote) slipped 0.6% to $10.38, Wynn Resorts(WYNN Quote) rose 0.9% to $64.09 and Ameristar Casino(ASCA Quote) fell 1.7% to $17.12.
Meanwhile, in New Jersey, declines slowed at Atlantic City casinos. October revenue for the second-largest gaming market dropped 6.5% in October compared with last year. As recently as March, those declines were approaching 20%.
During the month, the Garden State’s casinos won $323.8 million — $222.4 million at slots and $101.4 million at table games.
The Borgata Hotel Casino & Spa, which is owned by Boyd and MGM, reported a 9.4% decrease in revenue.
For the first 10 months of the year, New Jersey casino revenues tumbled 13.5% compared with last year.
– Reported by Jeanine Poggi in New York
