August 2018 stats from the Nevada Gaming Control Board released Friday showed that the state’s gambling operators suffered their second consecutive month of decline as revenues fell 7.7 percent y-o-y. The decline was worse than the 0.16 percent fall experienced in July 2018.
The Strip saw revenues fall a worrying 12.4 percent y-o-y, significantly worse than the 5.75 percent decline recorded in July 2018. Strip casinos delivered $447.9 million in August revenue.
Total gaming win across the state was just under $913 million, the lowest thus far this year, as analysts attributed the fall-off to a lack of major events. August last year was also boosted by the hype around the Mayweather-McGregor fight and attendant sports betting.
Nevada sports pool win was also significantly in decline in August, falling 63 percent y-o-y, whilst racebook pari-mutuel fared better but was still down 3.8 percent y-o-y at $3.5 million.
Commenting on the latest figures, NGCB analyst Mike Lawton said:
“Last year’s increase was driven in part by a very successful fight between Mayweather and McGregor. As a result, we are disappointed but not surprised by this August being down 12.4 percent on the Strip. We are anticipating that this is a short-term trend affecting the third quarter.”