Las Vegas Strip data for July seemed positive off the bat, signaling that Vegas might have gotten its act together after putting up continuously dismal numbers since April. However, examining the all important slot metric and revenue per available room (RevPAR) data, it appears that Strip has a long way to go before it's in full on recovery mode.
July’s data is a tad misleading due to the fact that it’s missing two weekend days. RevPAR is trending very low and needs to be at least +3% to offset inflation. Vegas is also seeing fewer slot players. Visitation growth needs to be higher by 1-2% over the long-term. Our chart below shows year-over-year visitation and RevPAR change and as you can see, both are beginning to trend even lower.