Record-breaking room tax revenue is being generated by Las Vegas casino hotels, as rising inflation and high demand are allowing these resorts to increase the nightly rates they charge. The bulk of the tax revenue is paid to the Las Vegas Convention and Visitors Authority (LVCVA), which is responsible for promoting Southern Nevada as a popular destination for tourism and business alike.
Clark County levies a nightly occupancy tax of as high as 14% on hotels, motels and other types of accommodation, depending on where they are situated. Although not in Las Vegas City proper, The Strip falls within an unincorporated region where the majority of casino hotels pay a nightly transient lodging tax of an effective rate equivalent to 13.38%.
Hotels across the county have increased their rates due to Las Vegas’ busy atmosphere and Nevada casinos earning more than $1 billion for the past 25 consecutive months. This has allowed for better funding for the LVCVA, a positive change from the agency’s income decline in 2020 caused by the pandemic.
As Americas Cardroom visitors to Vegas know, Clark County requires all types of lodging, including hotels and motels, to pay a nightly occupancy tax that fluctuates up to 14%, depending on the property’s location. Although situated in an unincorporated part of town, the Strip’s majority of casino hotels are subject to a 13.38% effective rate for the nightly transient lodging tax.
As casinos continue to make more money, hotels in the region have increased their prices, causing a boost in revenue for the LVCVA. This is a much-needed improvement for the marketing agency that witnessed a drop in income due to the pandemic in 2020.
During the months of January to March, the average cost of a room in a casino located on the Vegas Strip was $209. This is a 28% increase when compared to last year and a 39% rise compared to 2019.
This content was originally published here.