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Nevada records third straight month of falling revenue

Discussion in 'Casino Industry & Development' started by Mirageluvr, Sep 30, 2015.

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  1. Mirageluvr

    Mirageluvr Low-Roller

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    Sep 30 2015, 12:19 ET | By: Clark Schultz, SA News Editor Contact this editor with comments or a news tip
    Gaming revenue in Nevada fell 1.4% to $908.2M in August to mark the third straight month of a declining tally.Las Vegas Strip revenue was down 4.66% to $527.4M as the weak baccarat trend continued. Strip slot revenue was higher during the month, while table game revenue fell.Fiscal YTD revenue (7/31-8/1): Nevada -1.17% to 1.831B; Las Vegas Strip -3.40% to 1.052B.Gaming Control Board reportRelated stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.

    Downtown was up 15% in August.

    Breakdown by area:

    http://gaming.nv.gov/modules/showdocument.aspx?documentid=10407
     
  2. Krh2o

    Krh2o MIA

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    What is interesting is Reno does better then downtown LV in gross gaming revenue.
     
  3. nostresshere

    nostresshere Mr. Anti Debit Card

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    As the accountants continue to increase the house hold (tight slots, changes in table rules), it will continue to drive it down.
     
  4. Mirageluvr

    Mirageluvr Low-Roller

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    I agree with you. I will not gamble in MD or WV, because their hold percents are so high in order to pay all the taxes to the state, county,city....it's a joke. Maryland is the worst state in the country as far as % returned to the gambler and WV is not that far behind.
     
    Last edited: Sep 30, 2015
  5. MikeOPensacola

    MikeOPensacola VIP Whale

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    Agreed. Interesting to see that Downtown LV casinos and all the local's casinos in North Las Vegas are holding their own quite nicely.
     
    Annual Summer Bliss in the Land of Milk and Honey!!!
  6. shifter

    shifter Degenerate Gambler

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    I'm happy that I contributed to those poor numbers.
     
  7. Mirageluvr

    Mirageluvr Low-Roller

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    Good point, Mike....I wonder if they're being more aggressive in driving traffic to their casinos? BTW, my wife has an uncle and cousin that live in Perdido Key. Beautiful area....love the boating and fishing. Also, some nice restaurants and bars.
     
  8. tringlomane

    tringlomane STP Addicted Beer Snob

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    Not if you play blackjack. State mandated 3:2 BJ and S17 is pretty sweet for the player. Same for PA.
     
  9. thecarve

    thecarve Misanthrope

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    The uptick in DT revs certainly lends credence to the "people are fed up with shitty gambling conditions" theory.

    But let's not forget that China has a regime that is cracking down on corruption and very unfriendly to overt displays of wealth, the USD is much stronger today than it has been in years and much of the world has seen some significant economic weakness if not straight up recession. So as far as the Strip revenue decline is concerned, I'll be more than happy to lay odds on "Asian high rollers staying home" versus "astute gamblers being fed up".
     
    Number 50!
  10. Mirageluvr

    Mirageluvr Low-Roller

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    True. Slot machines is where they make their money.
     
  11. natedog666

    natedog666 17 and 20 Expert

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    I agree, don't forget the Brazilian and Latin American gamblers as well, hit hard...
     
  12. zing

    zing Low-Roller

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    That is interesting, never would have thought that.
     
  13. zing

    zing Low-Roller

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    For all the talk about tight slots - they were pretty strong in August.

    +10% Statewide
    +12% Strip
    +23% Downtown
     
  14. Mirageluvr

    Mirageluvr Low-Roller

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    Good point, zing.
     
  15. vegasvic

    vegasvic VIP Whale

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    Exactly. Blackjack revenue down? Switch from 3:2 to 6:5, that will help. Wrong.

    I'd like to see the breakdown by game. It seems to me as if craps is more popular than ever.
     
  16. shifter

    shifter Degenerate Gambler

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    I like how everyone is an arm chair casino SVP of operations.

    :rolleyes2:
     
  17. ken2v

    ken2v This Space For Rent

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    lol
     
  18. smartone

    smartone VIP Whale

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    All the knowledge with none of the pressures or responsibilities... great gig, if you can get it.
     
  19. Bubbavegas

    Bubbavegas VIP Whale

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    LOL never have played in Oklahoma have ya, land of we don't report shit as to payback, playing at a CET property in Vegas is great by comparison and I have never won anything worth mentioning at a CET property.
     
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  20. Krh2o

    Krh2o MIA

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    The revenue from the $25 and under tables is insignificant compared to the high limit room blackjack and baccarat. I also guarantee the casinos know how much per table they are making, and if they aren't making more with 6:5, then they would switch back to 3:2. The casino execs aren't just trying to screw the player. They are trying to make more money per table.
     
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