February wasn’t expected to be a spectacular gaming month for Nevada but few expected the revenue to fall nearly 14 percent, as was reported by the Nevada Gaming Control Board on Friday. And the reason was a 20 percent drop in play recorded by the casinos on the Las Vegas Strip.
In reporting the state’s largest decline in gaming revenue for the last five years, the board said revenue totaled $926 million as compared to $1.073 billion reported in February of 2013. On the Strip, revenues fell to $555.7 million, down from last year’s $696.1 million.
Blame for the Strip’s faltering the way it did was given to baccarat play. The volume, which was expected to be huge because of the attraction of the Chinese New Year celebration, fell some 40 percent.
Looking at the total casino action in Clark County, revenues fell 14.2 percent. The Boulder Strip casinos fell 9 percent while downtown facilities went against the trend and recorded a gain of 3 percent.
Included in the revenue figures for the first time, said officials, was $824,000 in revenue generated by online poker play.
As for visitors to the Las Vegas area in February, the Las Vegas Convention and Visitors Authority reported an increase of 3.4 percent when compared to last year. The figure was 3.1 million visitors against last year’s 3.0 million.
The increase came despite an 11.1 percent decline in the number of people who attended conventions and meetings, the Authority said.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].