Slot revenue very strong in July

Slot revenue very strong in July

September 05, 2018 3:00 AM
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As expected Nevada’s July statewide gaming revenue was very strong, particularly in slots. However, as the gaming revenue of $996,440,000 was 0.16% down from July of 2017 results of $997,973,000 some are characterizing the July 2018 results as expectedly weak.

But look at it this way, statewide the results were $3,560,000 shy of a billion dollars of gaming revenue, which is usually cause to smile and somewhat celebrate. Oddly, luck made all the difference this time around for the statewide results.

Some lucky players put a beat down on the mini-baccarat games and took a game that normally holds around 12 percent down to 3.5 percent. If mini-baccarat had just held its normal percentage, statewide gaming revenue would have gone over a billion and beat July 2017 statewide results instead of showing an ever so small percentage decline.

Something that seems to have escaped attention though is the statewide results came from fewer slot machines and table games than last year and the year before. In 2016 there were 145,874 slot machines in the state compared to 140,850 in 2018, a decrease of 5,024. And in 2016 there were 6,069 table games in the state compared to 5,812 in 2018, a decrease of 252 tables.

While efficient use of machines and tables is wise for tax and labor considerations, I somewhat wonder if too many gaming positions have been taken off the gaming floors thereby reducing gaming opportunity. While some customers like playing close to others, many like their personal space and will not willingly take a middle seat between two strangers.

None the less while July 2018 may not have set statewide records, any month that basically generates nearly a billion dollars in gaming revenue for the state warrants a thumbs-up.