Nevada Casino Revenue Dipped 0.05% in September
Gaming revenue at Nevada casinos fell slightly in September compared with the same month last year. Growth on the Las Vegas Strip was not enough to offset declines in other areas.
Nevada casinos experienced a small drop in gaming revenue in September. According to data released by the Nevada Gaming Control Board (NGCB), the state's 453 casinos earned 0.05% less than in the same month last year, bringing total revenue to about $1.282 billion.
The picture was different on the Las Vegas Strip. Gaming revenue there rose about 0.8% to $693.5 million. However, declines in downtown Las Vegas, Laughlin and the rest of Clark County offset that gain. Revenue in downtown Las Vegas fell 7.5%, and Laughlin saw a 16.8% decline. North Las Vegas stood out with a 9.18% increase.
Citizens analyst Jordan Bender found the state's monthly result slightly below expectations. According to Bender, losses in table games were decisive in this picture. Revenue from mass market tables fell 5% despite an easy comparison with last year. Bender also noted that the Global Gaming Expo and Boyd Gaming's earnings calls pointed to a slowdown across the Las Vegas Valley in August and September.
Still, the first quarter of the year was positive. From July to September, Nevada casinos generated about $3.94 billion in revenue, an increase of 1.7%. Clark County's revenue over the same period rose 1% to reach $3.32 billion.
Comments (0)
Be the first to comment.
Log in to comment.