Nevada’s November gaming revenue dipped 2.3 percent

Nevada’s November gaming revenue dipped 2.3 percent

December 29, 2017 9:13 AM
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Nevada’s November gaming revenue dipped 2.3 percent, reports the Nevada Gaming Control Board (NGCB) in a Thursday announcement.

The NGBC data, however, reveals that most Southern Nevada casinos saw increases, with the exception of the Strip, where revenue was down 6.04 percent in November compared to November last year.

Gaming revenue came in last month at $909,007,025 compared to $930,405,599 for November 2016 for non-restricted locations. Non-restricted locations are those casinos with 15 or more slot and/or video poker machines and usually table games, as well.

“If you factor out the Strip, the state would have been up,” said Michael Lawton, senior research analyst with the Tax and License Division of the Gaming Control Board.

Lawton cited losses for the Strip properties in baccarat and

Blackjack (“21”) as major contributors to the downturn at the Las Vegas Boulevard properties that comprise the heart of the area’s gaming resort corridor.

“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.

Lawton also noted that the overall amount of money bet in sports pools on the Strip decvreased 2.2 percent, or $5.4 million, and the hold was only 1.03 percent this year compared to 3.98 percent for November 2016.

“The major decrease came from baseball,” he said. “Baseball betting on the Strip lost $6.1 million.”

The revenue numbers were solid for the rest of Southern Nevada, according to the NGCB. Downtown Las Vegas was up 6.82 percent, North Las Vegas revenue moved up 2.56 percent, and Laughlin’s revenue was up 4.93 percent. On the Boulder Strip, revenue rose .08 percent, and in Mesquite, revenue was up 8.78 percent.