Nevada’s revenue falls for forth consecutive monthBaccarat is the only table game to go up Noth and South Lake Tahoe post the heaviest reduction
Nevada’sgaming revenue fell in April for a forth consecutive month, down 1.8percent, the Gaming Control Board reported on Wednesday, May 29.
Nevada’s Gaming Revenue TakesAnother Tumble
Releasing new data, Nevada’s Gaming Control Board cited another reduction of gaming revenue for April. This has been the forth consecutive month in 2019 that gaming revenue took a hit in Nevada. The total amount won by casinos from players amounted to $936.5 million, or down 1.8 percent.
Majorgaming hubs posted declining revenue, including ClarkCounty with 2 percent lower at $808.6million and the Strip’s revenuetaking a more pronounced 3.5 percent tumble to $481.9 million.Conversely, Las Vegas managedto grow its revenue, adding 2.1 percent increase or $61.8 million.
Not allproperties posted declining revenue, with Mesquite seeing a goodmonth in April, and revenue going up 4 percent to $12.2 million.However, other properties reported even more serious decline in theiroverall revenue performance for 7BALL CC the month.
LakeTahoesaw as much as 12.5 percent slip in terms of gaming revenue whereasNorthLakeregistered the even more significant 16.1 percent.
As Games Decline, Sports BettingRises
Insofar asdifferent verticals were concerned, table games sunk to double-digitreduction over the period. It all came at the expense of sportsbetting which has been raking up asolid 32.7 percent increasein overall volume. With sports betting in good stead, casino revenuehas flat-lined.
So far astable games go, baccaratmade an interesting comeback in April, posting $66.8million in total revenue, or a 2.5percent increase year-over-year. Cardgames were dealt a tougher hand in April, though, and their revenuetook a step off a 5.8-percent-cliff.
Roulette, blackjack and craps all posted declines with blackjack falling by -11.1 percent and roulette bearing the brunt for a -23.5 percent decline. Poker did post a mild uptick of 4% or $8.6 million, but this is to be expected with the World Series of Poker (WSOP) drawing near.
Year over year,the fiscal results are the same, although a continuation of thedownward trend would put 2018/2019 in a decline. Meanwhile, NorthLake Tahoe, South Lake Tahoe and the Strip continue to post markeddecline with their overall year-over-year results going under by 1.58percent.
While casinoproperties registered fewer conferences, occupancy rates continued tokeep steady at 91 percent of capacity. A slight increase in visitorsnumbers has also been registered.
