Nevada Gambling Revenue Off 3 Percent in August
CHICAGO (MarketWatch) -- Gambling revenue in Nevada fell a bit more than 3% to $859.2 million in August, according to figures released Wednesday by the Nevada Gaming Control Board.
On the Las Vegas Strip, which accounts for more than half the statewide total, revenue slipped 1.2% to $490.9 million with the take from slot machines off 9% and table games up 7.6% on the back of solid baccarat volume.
"We believe these results are consistent with investor expectations of relatively soft summer spend trends on the Strip as evidenced by our weekly room rate survey," said Joe Greff of J.P. Morgan. "At the end of the day, we believe these results point to a continued uneven recovery on the Las Vegas Strip, which represents no change from prior and more recent views."
Major players in the market include MGM Resorts MGM -2.20 percent, Caesars Entertainment CZR -2.51 percent, Las Vegas Sands LVS -0.41 percent and Wynn Resorts WYNN -0.74 percent.
- William Spain, Market Watch
