Nevada Casino Revenues Fall 1.5% in NovemberDecember 30, 2016 1:04 pm
The Nevada Gaming Control Board has released its latest casino results for November, revealing a 1.5% fall in revenues to $930.4 million compared to the $944.3 million taken in the same month in 2015. Nevada subsequently collected $56 million by way of gambling taxes, marking a 3.5% decrease from November last year.
Despite the slight decline in revenues, Michael Lawton, senior research analyst for the Nevada Gaming Control Board, said that the overall direction that the state’s casino industry was heading is positive, explaining:
“The state was facing a difficult comparison. Last November, the state was up 7.8 percent. But the state has only recorded two decreases in the last six months. For the calendar year, the state is up 1.7 percent.”
Furthermore, Nevada’s casino market is 3.55% higher for the fiscal year so far, covering the period July 1st to November 30th, with revenues currently at $4.7 billion versus $4.6 billion for the same period in 2015.
In November, slot machines contributed $605.2m to the Silver State’s overall gambling revenues, representing a 1.5% year-on-year improvement compared to last November. Table games, on the other hand, generated $325.2m, representing a 6.5% fall from last November, with baccarat accounting for much of its losses.
Breaking the figures down, blackjack revenues rose 12.9% to $95.8m; roulette soared by 38.9% to $33.6m, and craps increased 9.4% to $29.1m; while baccarat reported a 22.8% contraction in business to $84.8m. Other table game revenues include three-card poker down 15% to $10.2m; online poker down 0.6% to $8.9m; pai gow poker up 23.9% to $8.2m; and mini-baccarat down 1.2% to $7.3m. Commenting on the figures, Michael Lawton said:
“Without baccarat, the statewide total win would have increased 1.3 percent or $11.2 million. You tend to take it out to see what we do without it. And when you look at those metrics, you see that non-baccarat gaming win was up and slots were up as well.”
Around the state, the Las Vegas Strip saw its revenues fall by 3.5% to $517 million; Downtown Las Vegas was down 5.5% to $51 million; Reno was up 3% to $46 million; while South Lake Tahoe reported a 12.5% increase in revenues to $16 million.