Nevada revenues stabilize in June

Aug 13, 2008 7:04 PM

by David Stratton | The Nevada casino industry finally received a bit of good news … well, at least it wasn’t too bad.

Revenues for June slipped a modest 1.1 percent compared to June 2007 and, even though it was the fifth straight month of declining revenues, it was much a step better than the 15 percent drop in May.

Moreover, there were indications that casino play has begun to pick up in some jurisdictions.

For instance, even though gaming win on the Las Vegas Strip was down 3 percent from last year, Southern Nevada as a whole (all of Clark County) actually posted a 2 percent year-over-year increase in gaming win.

Areas that did particularly well in Southern Nevada include downtown Las Vegas, which saw revenues increase 10 percent, North Las Vegas, up 41 percent, Boulder Strip, up 25 percent, and the balance of the county, up 3 percent.

Casino operators were also encouraged by the increase in slot win, even though table revenue was down slightly from a year ago.

Surprisingly, poker room revenues were also down, surprising since the World Series of Poker was in town with supposedly record numbers of participants.

For a complete accounting of June revenues, see next week’s GamingToday, beginning Tuesday.