Las Vegas Convention and

Visitors Authority Releases

October 2008 Numbers

Following the same trends as September, the Las Vegas Valley showed double digit declines with the release of the October numbers that you can view by Clicking Here.

Palazzo Las Vegas

Interestingly, the year to date decline through October of 2008 is only down 3.2% in comparison to the Year to date numbers through October of 2007.  Obviously there has not been too much positive news for the Las Vegas casinos and economy to date. With the past two months showing double digit declines is this an indicator that fourth quarter earnings reports for the casinos are going to be even worse then what we’ve seen with previous quarters?

It’s also important to note that October of 2008 numbers include the 1.8 Billion Dollar Palazzo Casino Resort and the 3,000+ rooms that were added to the inventory of rooms available beginning in January of 2008. (Obviously not included in the numbers for October of 2007.)

Let’s hope that Echelon and City Center Las Vegas have more of a positive impact on 2009 numbers for Las Vegas.

Paul Francis, CRS
Las Vegas Real Estate
702.592.3058