Nevada casino revenue up slightly in July

“Baccarat had a very strong month on the Las Vegas Strip, which really accounted for a majority of the increase,” said Michael Lawton, senior research analyst for the gaming board.

Downtown revenue, meanwhile, dipped 2.8 percent to about US$ 38.3 million. Other areas suffered worse declines: Boulder Strip gaming revenue decreased 9.78 percent, while South Lake Tahoe revenue decreased about 22.5 percent. Casinos in Reno also saw their revenues drop by 2.28 percent to about US$ 47.8 million. Baccarat remained a significant source of growth for the state - it brought in 13.87 percent more revenue than last year. Slot revenue, on the other hand, dropped 2.86 percent. 

Casinos stocks have faced recent slowdown in Macau as well as dire headlines on the financial woes of Caesars. Revenue for the Strip district, where most higher-end casinos are located, totaled US$ 536.2 million in July, up from US$ 511.4 million a year earlier.

Companies that dominate the neighborhood include Wynn Resorts, MGM Resorts, Caesars) and Las Vegas Sands. The city's downtown, where Boyd Gaming counts as an important presence, saw July gambling revenue slip 2.8 percent to US$ 38.3 million.

Clark County, a sprawling region of 8,000 square miles that includes Las Vegas and more, largely mirrored the individual game numbers. There, baccarat revenue increased about 16 percent and slot win decreased about 1 percent. The state reported that it collected US$ 52.2 million in taxes based on July’s winnings, which marks a 14.73 percent decrease from last year. For all of Clark County, revenue was up just 2.2 percent to US$ 800.4 million from US$ 783.2 million last year.

Clark County in total showed a 2% increase to US$ 800 million including the Boulder Strip (US$ 68 million, down nearly 10%), Laughlin (US$ 39 million, down 0.7%), downtown Las Vegas (US$ 38 million, down 3%) and North Las Vegas (US$ 23 million, down 2%).

Online poker

Following the largest month on the books for online poker operators in June, July figures were only slightly smaller. Online poker revenue improved year-over-year by about 11 percent, climbing to US$ 958,000. In June, it brought in more than US$ 1 million for the first time.

Nevada’s three online poker sites took in roughly US$ 985,000 during the month of July, down from June’s US$ 1.037 million, according to figures released Thursday by the state. The World Series of Poker ended in mid-July, after starting in late May.

The poker tournament series, which draws thousands of poker players from all over the globe, is the reason why online poker revenue in June set a record, experts say. Nevada regulated poker websites generated roughly US$ 862,000 in revenue during May.

The Nevada Gambling Control Board said taxes collected totalled US$ 52 million in taxes for July winnings, that’s 15% from last year.