Nevada gaming revenues log first monthly decline since January

Nevada gaming revenues log first monthly decline since January

August 31, 2018 10:52 AM
by

share

Nevada’s July’s gaming revenues, marked by a 5.75 percent decline on the Las Vegas Strip, logged its first monthly decrease since January, according to figures released Thursday by the Nevada Gaming Control Board (NGCB).

The news of the dip was expected as Caesars Entertainment and MGM Resorts International had, during quarterly conference calls weeks ago, said a dearth of major events that might draw high rollers to Las Vegas and declines in room rates would weaken results in the third quarter.

In July, Strip casinos saw gaming revenue decrease to $533.1 million in the month, compared to $565.6 million a year ago, NGCB data revealed.

Statewide gaming revenue fell less than 1 percent to $996.4 million, as with other many markets recording double-digit gaming revenue increases during July.

The Las Vegas Strip results are responsible for more than 53 percent of the statewide total.