- Nevada’s revenue falls for forth consecutive month
- Baccarat is the only table game to go up
- Noth and South Lake Tahoe post the heaviest reduction
Nevada’s gaming revenue fell in April for a forth consecutive month, down 1.8 percent, the Gaming Control Board reported on Wednesday, May 29.
Nevada’s Gaming Revenue Takes Another Tumble
Releasing new data, Nevada’s Gaming Control Board cited another reduction of gaming revenue for April. This has been the forth consecutive month in 2019 that gaming revenue took a hit in Nevada. The total amount won by casinos from players amounted to $936.5 million, or down 1.8 percent.
Major gaming hubs posted declining revenue, including Clark County with 2 percent lower at $808.6 million and the Strip’s revenue taking a more pronounced 3.5 percent tumble to $481.9 million. Conversely, Las Vegas managed to grow its revenue, adding 2.1 percent increase or $61.8 million.
Not all properties posted declining revenue, with Mesquite seeing a good month in April, and revenue going up 4 percent to $12.2 million. However, other properties reported even more serious decline in their overall revenue performance for the month.
Lake Tahoe saw as much as 12.5 percent slip in terms of gaming revenue whereas North Lake registered the even more significant 16.1 percent.
As Games Decline, Sports Betting Rises
Insofar as different verticals were concerned, table games sunk to double-digit reduction over the period. It all came at the expense of sports betting which has been raking up a solid 32.7 percent increase in overall volume. With sports betting in good stead, casino revenue has flat-lined.
So far as table games go, baccarat made an interesting comeback in April, posting $66.8 million in total revenue, or a 2.5 percent increase year-over-year. Card games were dealt a tougher hand in April, though, and their revenue took a step off a 5.8-percent-cliff.
Roulette, blackjack and craps all posted declines with blackjack falling by -11.1 percent and roulette bearing the brunt for a -23.5 percent decline. Poker did post a mild uptick of 4% or $8.6 million, but this is to be expected with the World Series of Poker (WSOP) drawing near.
Year over year, the fiscal results are the same, although a continuation of the downward trend would put 2018/2019 in a decline. Meanwhile, North Lake Tahoe, South Lake Tahoe and the Strip continue to post marked decline with their overall year-over-year results going under by 1.58 percent.
While casino properties registered fewer conferences, occupancy rates continued to keep steady at 91 percent of capacity. A slight increase in visitors numbers has also been registered.