Nevada casino revenue slips in February

Statewide, Nevada casinos reported revenue of $916m, down 1% year-on-year and down nearly 4% from January’s figure. The numbers were even worse on the Las Vegas Strip, where revenue fell 4.4% to $555.7m. For the year-to-date, the numbers are off 2% statewide and 4.2% on the Strip.

Much of the decline was attributed to a decline in baccarat volume, which came despite the Lunar New Year celebrations in February, as Macau’s vanishing VIP phenomenon exported its problems to US shores. Baccarat revenue fell 23.5% to $121m as baccarat handle fell 21.8%.

Excluding baccarat, Strip gaming revenue actually rose 3%. Blackjack was up 23.3% to $89.9m and craps rose 18.6% to $33.9m while roulette fell 1.9% to $27.9m. The rest of the table tallies shook out thus: three-card poker ($12.4m, flat), mini-baccarat ($9.3m, -39.6%), pai gow poker ($9m, +19.4%), let it ride ($3.3m, -5.5%), keno ($2.2m, +31.3%) and bingo ($1.2m, +144%). Slots revenue rose 4.9% to $565m and poker revenue fell 8% to $8.5m.

Nevada sportsbooks saw revenue fall 54.2% to $14m, partly as a result of the 2014 Super Bowl’s record handle and win and the 2015 game’s abysmal 2.8% hold. Total football wagering revenue fell 82% to $3.3m on a 3% hold. Basketball couldn’t ride to the rescue, as roundball revenue fell 23% to $7.3m. Parlay cards gained 2.7% to $1.2m and the state’s race books were off 10.8% to $3.5m.