Casino

Drop in Nevada casino revenue

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There has been a marked drop in casino revenue in the US state of Nevada, according to a report published by the Nevada Gaming Control Board. According to the NGCB, gambling revenue in the state, which includes the gambling hub of Las Vegas, fell for the second month in a row during August, although the results are in line with what some analysts had predicted.

The report reveals that Nevada’s casinos took gambling revenue of $913 million from visitors during the month of August, which equates to a 7.7% decrease when compared with the same period in last year. August’s figures also represent the lowest monthly revenue recorded so far in 2018.

Difficult comparison

Michael Lawton, a senior analyst at the NGCB, said that they were disappointed with the August figures, but said that the Board was not surprised, as casinos in the state were facing a difficult comparison with trading conditions in August 2017. Last year, August’s revenue was boosted by the fight between Floyd Mayweather Jr. and Conor McGregor, which took place in Las Vegas:

People called it the fight of the century, and it was a pretty big draw and it drove a lot of those gaming numbers for last August. We didn’t have an event this August that was anywhere near replicating something of that magnitude. We knew going in this was going to be a tough month for us.”

The report revealed that casinos based on the Las Vegas Strip earned revenue of $477.9 million, which is down 12.4% from the same month in 2017, while the volume of visitors to these venues remained at a similar level. Casinos based in downtown Las Vegas also experienced a fall in revenue of 4.8% to a figure of $46.2 million.

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