Is Las Vegas Tourism’s Future Boom or Bust? Specialists Have Varied Viewpoints

Is Las Vegas Tourism’s Future Boom or Bust? Specialists Have Varied Viewpoints

The tourism industry in Las Vegas has restored all but 1.3 percent through the fallout that is devastating of recession, but what lies ahead for las vegas’s visitor growth for the next five years? It depends who you ask.

Las Las Vegas tourism continues to flourish, but several factors could hamper expansion that is future from terrorism to flight pilot shortages.

Several facets point toward slower growth, however the recovery from the 2008 Great Recession is nearly complete.

That is according to UNLV’s Center for Business and Economic analysis director Stephen Miller, who said at a presentation earlier this week that Southern Nevada’s tourism economy will drop slightly, but then rebound in a capacity that is limited in 2018, in accordance with a story in the Las Vegas Review-Journal.

Those thoughts are in direct contrast to those of officials at the Las Vegas Convention and Visitors Authority (LVCVA). Execs there think that indicators point toward an upsurge in site visitors, continuing a trend they will have seen going back 36 months.

Tourism Records Broken

Visitor numbers in vegas have been spiking since 2015. Occupancy rates in hotels, along with average room that is daily, have additionally gone up into the past couple of years, in line with the LVCVA.

It has definitely been a bull market for both the Strip and downtown in Las Vegas. In 2016, 42.9 million visitors flocked to las vegas, ac Leer más

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution

The elimination of the casino income tax in Pennsylvania is placing their state in a fiscal bind. Utilizing the 2017 session of the General Assembly closing this week, lawmakers must find at least a fix that is quick the revenue woes they’ve known about since last fall, whenever the state Supreme Court ruled elements of the existing casino tax structure were unconstitutional.

Pennsylvania counties risk losing $120 million from the casino tax that’s been announced unconstitutional. Gov. Tom Wolf wants a bill on their desk ASAP to treat budget troubles ensuing from the continuing state Supreme Court ruling.

As soon as the state legalized some types of casino gambling in 2006, they did so because of the vow that each casino would pay 2 % of gross slot revenues to your townships where they’re found.

That share had been to encourage communities to welcome new casino construction, and help offset extra costs related to having a gambling venue in their backyard. If any casinos did not satisfy a $10 million minimum, however, it ended up being on them to make up the difference. Which is where the video slot minimum tax created problem for the courts.

Courtroom Bust

In 2015, the Mount Airy Casino and Resort into the Poconos protested, when 2 per cent of these slot revenues amounted to no more than $2.8 million, leaving them $7.2 million short.

The Supreme Court ruled in September 2016 that the formula f Leer más