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UNLV economist reports Las Vegas Strip gaming revenue decline

Regulation

UNLV economist Stephen Miller said a mid-year report from the university’s Center for Business and Economic Research recorded a 1.1% year-to-date decline in Strip gaming revenue and a 6.5% fall in visitation. The report also said gaming revenue fell 4.5% in May, including an 11.4% drop downtown and a 3.9% decline on the Strip.

Declines in Strip gaming revenue and visitation indicate softer Las Vegas conditions for operators and investors.

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Deals & M&A

BurraPay brings crypto payments to Sahara casino on Las Vegas Strip

BurraPay deployed its cryptocurrency payment platform at Sahara in Nevada last month, enabling customers to exchange cryptocurrency for casino chips or gambling tickets, the company said. The Nevada Gaming Control Board approved the system earlier this year, and BurraPay said it was in discussions with other casinos and planned further launches in the coming weeks.

BurraPay put its cryptocurrency payment platform into service at the Sahara resort last month. Customers there can now swap cryptocurrency for chips or tickets to gamble on the casino floor, a first for the Las Vegas Strip. Earlier this year the Nevada Gaming Control Board (NGCB) signed off on the system, so the company may operate in the state's regulated gaming industry.

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