Las Vegas Strip Is Firing on All Cylinders
Caesars’ chief operating officer, Anthony Carano, stated that they, too, had relatively high earnings in the third quarter of 2022. With $491 million in adjusted EBITDA, Caesars can be satisfied with how things are going so far. The occupancy of their hotels reached 94% during the summer months in 2022, further bolstering the company’s position among the absolute leaders of the industry
Bright Future Ahead for Las Vegas
There are several key events in 2023 that are certain to boost Las Vegas’ economy. The first F1 Las Vegas Grand Prix is slated for November 16, which is one of the most anticipated Formula One events of the year. The race is conveniently taking place during the traditionally slowest weekends for Las Vegas casino resorts, heading into the Thanksgiving holidays.
Las Vegas Giants Expanding Their Business Overseas
Prior to the publication of these plans, the US giant reported impressive gaming revenues at Marina Bay Sands in Singapore, which rose to $477 million in the fourth quarter of 2022, almost double the value of the year prior.
The company is also looking to invest about $3 billion in Marina Bay Sands over the next few years and add a new luxury hotel tower with 1,000 hotel rooms, a convention centre, and more. After renewing its license for the Macau property, Las Vegas Sands is investing $3.8 billion into its properties to further improve its market presence.
