Another Drop in Nevada Gaming Revenues

Oct 05, 2015 - by Dani

Nevada gaming revenues on the decline Las Vegas blackout

Nevada gaming revenues decline, but it’s early to turn off the lights yet (amairphoto)

According to the state’s Gaming Control Board, Nevada gaming revenues fell in August, for the third month in a row.

Though Nevada gaming revenues still maintain an overall 1% increase comparing to last year, the results of 2015 June, July and August show a drop from the 2014 numbers. Certain areas of Las Vegas, namely the Strip, obviously has a problem, while other parts of the state produced a considerable growth.

According to online gambling news, issues related to baccarat are the main reasons behind the decrease in Nevada gaming revenues. The Strip had a 4.7% drop in August, while Nevada gaming revenues in total declined 1.4% comparing to the same month in 2014.

Baccarat along the Strip had a 16% decline in August comparing to the corresponding month last year. Gaming analysts Steven Wieczynski argued that this fall is due to the economic problems in China, causing Chinese players losing willingness to wager on baccarat. He said, “At this point, given the swirling macroeconomic uncertainties in China, we expect the Strip baccarat business to remain under pressure indefinitely.”

According to the numbers and gambling facts, slot players started to take over the Las Vegas Strip. While slot revenues grew in the area by 12%, table games declined 16%. It seems that many customers of casino table games rather visit the downtown casinos instead, where overall casino revenue produced a 15% growth.

Las Vegas Review-Journal: Gaming revenue tumbles in Nevada, on Strip for third straight month

North Las Vegas and the Boulder Strip also reported considerable increase, 21% and 30% respectively, contributing to the overall picture of Nevada gaming revenues, that is on almost 1% increase in 2015. Meanwhile Strip casinos reported a nearly 2% decline for this calendar year.

Cameron McKnight, gaming analyst for Wells Fargo Securities suggested that young people rather visit the Strip for partying than for gambling during these months. He said, “We note that the summer is skewed toward the leisure segment. In our view, the softness in gaming volumes is reflective of the current leisure customer increasingly younger, international and nightlife-oriented versus gaming focused.”

Nevada gaming revenues dropping Tao Beach party

Nevada gaming revenues may be dropping, but the Vegas party is just getting started!

Nevada gaming revenues obviously do not include accommodation, clothing, food and drink incomes, which are major contributors for properties located in the area. Las Vegas is slowly becoming more of a party destination than a gambling capital.

Gambling is still big in the area, and it will be until US gambling laws in other states legalize the business. However, there are less and less gamblers in the younger generations who are attached to land-based casino gambling. They rather go to online poker rooms or online casinos for a gambling experience, not to mention online sports betting sites and now there are the daily fantasy sites as well.

Just check out Bovada Casino, if you’d like to know what a top US online casino looks like! After that, maybe you won’t plan to go to Las Vegas anymore to play your favourite casinos games either. What happens in Vegas, stays in Vegas, but this doesn’t mean that there is no legal online gambling outside Vegas…

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