Another disappointing month for Nevada gambling operators

News on 29 Sep 2018

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.”

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