All lined up for 2024
Las Vegas is mainly known for gambling, but in 2024 the region will play host to thousands of NFL fans for Super Bowl LVIII. As reported by the Las Vegas Review-Journal, the NFL has supposedly selected Las Vegas for the event’s 2024 edition – news that the league’s owners are set to announce at their Dallas meeting on Wednesday.
industry minds believe the Super Bowl will provide a colossal boost
This is big news for the gambling hub, which struggled throughout 2020 with the devastating impact of the COVID-19 pandemic. Vegas’ casinos, convention centers, and entertainment venues have made a staggering recovery since then, but industry minds believe the Super Bowl will provide a colossal boost.
John Swissman, a founder of gaming industry consultancy firm The Strategy Organization, has affirmed that Super Bowl LVIII will bring a “huge economic windfall” to the Nevada city. “There will be a host of special events, with casinos inviting VIPs and making big long weekends out of it,” he predicted.
Meanwhile, Jeff Benson, sportsbook operations manager at Circa Sports, has estimated that the event will lead to record betting figures that could “push the amount wagered on the game close to $200m.”
Ready to play host
After its relocation from New Orleans due to Mardi Gras conflicts, Super Bowl LVIII will take place at the home of the Las Vegas Raiders. The NFL team, boasting sponsorship agreements with BetMGM, MGM Resorts International, and Aristocrat Technologies, completed the construction of their $2bn 65,000-seater Allegiant Stadium in 2020.
There will be no better Super Bowl than Vegas will be able to do.”
Brendan Bussmann, a casino consultant and partner with Global Market Advisors, believes Las Vegas’ selection to host Super Bowl LVIII will cement its place as “sports and entertainment capital of the world.” He is also confident of the city’s ability to put on a great show. “There will be no better Super Bowl than Vegas will be able to do. Period,” he asserted.
Swissman echoed Bussman’s sentiments, arguing that the event would validate Vegas as “a professional sports town.” He noted that the region had cemented professional sports as one of its many attractions, also pointing to the news that the Oakland A’s had expressed an interest in setting up camp on the Strip.
Recovery in full flow
Undoubtedly, Vegas had a difficult time in 2020 as pandemic restrictions took their toll on gaming revenue. For the full-year, Nevada gaming revenue hit multiple record lows, including the lowest full-year total since 1996. That December also represented the worst month for Las Vegas Strip revenue in 27 years.
In contrast, 2021 has proven a great year for the state’s casinos. March casino revenue topped $1bn for the first time since the pandemic began, and it hasn’t slowed down since. For the last reported month, casinos saw gaming win of $1.2bn for October, a 49% year-on-year rise. Sportsbooks set a record monthly handle for the month of $1.1bn.
Speaking with VegasSlotsOnline News in October, Vegas industry veteran Stephen Crystal, CEO of SCCG Management, expressed his belief that this growth would continue. “I think for the next year at least we will see continued growth as things open up and larger groups continue to arrive in Vegas,” he said.?