International edition
June 17, 2019

Fewer people visited the destination in November as well

Revenue drops in Las Vegas Strip for 2 consecutive months

Revenue drops in Las Vegas Strip for 2 consecutive months
Casinos won USD 282.3 million from game and table play, a decrease of 13.2 percent or USD 42.9 million. Luck was in favor of players at baccarat, which earned casinos USD 64.9 million, down 23.5 percent (USD 19.9 million)
United States | 01/02/2018

According to the Nevada Gaming Control Board, casinos collected USD 486 million, with a 6 percent revenue decrease compared to the same month last year. Lucky game and table players drove the statewide decrease in revenue. Results show lucky game and table players drove the statewide decrease in revenue.

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ccording to a report released on December 28th by the Nevada Gaming Control Board, casinos collected USD 485.8 million, with a 6 percent revenue decrease compared to the same month last year. The state did not draw any connections between the revenue drop and the mass shooting that took place on the Strip in October. Figures also released Thursday by the agency revealed fewer people visited the destination in November. The data from the Las Vegas Convention and Visitors Authority shows 3.3 million people traveled to the area, representing a 3.7 percent decrease in visitation.

"This month specifically I don't have anything to support that event being a contributing factor to why we were down," Michael Lawton, senior research analyst for the board, said. "...You had poor performance in baccarat, twenty-one and sports betting."

The agency partially attributed the sixth consecutive monthly decline to fewer rooms available as several hotels underwent renovations in 2017.

Statewide casinos, including those on the Strip, collected about USD 909.1 million last month, a 2.3 percent decrease compared to the same month last year. This was the third statewide monthly revenue drop recorded this calendar year, and results show lucky game and table players drove the statewide decrease in revenue.

Casinos won USD 282.3 million from game and table play, a decrease of 13.2 percent or USD 42.9 million. Baccarat in particular seemed to favor players, earning casinos USD 64.9 million, down 23.5 percent (USD 19.9 million) compared to November 2016.

Revenue at casinos in downtown Las Vegas increased 6.9 percent to about USD 54.3 million. Winnings in Mesquite were up 8.8 percent to about USD 10.8 million.

Meanwhile, in northern Nevada, revenues at casinos in Washoe County were up 2 percent to about USD 63.3 million.

The state benefited with about USD 49.5 million in percentage fees based on the taxable revenues generated in November. That's a decrease of 11.1 percent compared to the same period in 2016.

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