Nevada gambling numbers dip 2.3 percent in November 2017
News on 5 Jan 2018
News on 5 Jan 2018
Gambling revenues in Nevada dipped 2.3 percent year-on-year in November to $909 million, also down on the numbers for the preceding month (October 2017: 988.7 million).
Reporting on the activity, the Nevada Gaming Control Board blamed most the decline to the Strip casinos, where table win fell 16.8 percent y-o-y to $215.6 million, with blackjack and baccarat revenues declining 14.5 percent and 25 percent y-o-y respectively.
Revenues on the Strip fell 6.04 percent compared to November last year.
Sports betting underperformed at wagering levels of $5.4 million on the Strip, a decline of 2.2 percent, with a reduced hold further depressing the market.
Board analyst Mike Lawton commented:
“If you factor out the Strip, the state would have been up. The table game win decreased this month. It was $215.6 million, which is 16.8 percent, or $43.5 million, less than last year.”
“Another big factor was sports pools,” Lawton said. “The win total was $2.7 million, and that’s down 74.4 percent or $7.9 million” from last November.
“The major decrease came from baseball,” he said. “Baseball betting on the Strip lost $6.1 million.”
For the rest of Southern Nevada, the numbers were good. November revenue in downtown Las Vegas was up 6.82 percent y-o-y, North Las Vegas revenue rose 2.56 percent, and Laughlin’s revenue was up 4.93 percent.
The Nevada taxman benefitted from November’s activity by $49,437,413 in gaming taxes and fees, a year-on-year drop of 11.1 percent ($6,171,287) compared to December 2016, when the number was $55,608,700.
