With revenue in the world’s largest gaming destination — Macau, China — still depressed, casino investors are looking to the state of Nevada for some much-needed revenue growth this year.
The state’s gaming control board has released its report on gaming revenue for the month of August. Here’s a brief overview.
The Numbers
Nevada’s non-restricted gaming licensees reported a total “gaming win” of $860.6 million in August, a 5.2 percent year-over-year decrease.
August’s number was a deviation from the relatively strong performance by Nevada casinos in the past year. Statewide revenue is up 1.2 percent year-over-year since September 1, 2015.
Las Vegas Strip
More than $449 million (about 52 percent) of Nevada’s total gaming win in August came from the Las Vegas Strip.
Shareholders of strip mega-resort operators Wynn Resorts, Limited WYNN 0.2%, Las Vegas Sands Corp. LVS 0.12%, MGM Resorts International MGM 0.6% and Caesars Entertainment Corp CZR 0.26% are watching Strip numbers closely.
Win numbers for the Vegas Strip were down 14.7 percent year-over-year in August following July’s 16.7 percent gain. In the past 12 months, Strip revenue is up about 1.0 percent year-over-year.
Downtown Vegas
Historic Downtown Las Vegas, which has performed extremely well in recent months, followed…
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