Nevada’s nonrestricted gaming licensees reported a total “gaming win” of 912,980,589 for the month of August 2018. This amounts to a 7.74% decrease compared to August 2017, when licensees reported a gaming win of $989,526,639. For the fiscal year (July 1, 2018 through August 31, 2018), gaming win has decreased 3.99%.
In Southern Nevada, the Strip saw a 12.4% slide from August 2017. While the Boulder Strip saw the biggest losses with a decline of 16.3% the Strip is performing worst for the short fiscal year to date. Every other region saw declines with the exception of Mesquite, which saw a 3.9% increase compared to a year ago.
Happier news was found in Northern Nevada. No losses were taken in any region, and outlying areas saw the best gains with growth of 15.6% YOY. South Lake Tahoe continues to lead the way for the fiscal year to date.
The State collected $46,801,433 in percentage fees during the month of September 2018, based upon the taxable revenues generated in August 2018. This represents a 7.02% (or $3,532,921) decrease compared to the prior year’s September, when percentage fee collections were
Below are some underlying details from our friends over at Deutsche Bank. They show most of the Strip losses occurred at the tables, with slot revenues falling only 1.3%.
August LV Strip Revs: -12.4% y/y (DB -6.2%)
3Q18 to Date LV Strip Revs: -9.0% y/y
August LV Locals Revs: -7.5% y/y
3Q18 to Date LV Locals Revs: +0.8% y/y
August Reno Revs: +7.3% y/y
3Q18 to Date Reno Revs: +2.9% y/y
Slot Revs: -1.3%
Slot Handle: +0.8%
Slot Hold: -17 bps
Baccarat Revs: -8.8%
Baccarat Drop: -15.5%
Baccarat Hold: +97 bps (13.3% versus hold of 12.3% in August, 2017 and an LTM average of ~13.4%)
Strip Non-Baccarat Tables:
Non-Baccarat Table Revs: -29.8%
Non-Baccarat Table Drop: -21.5%
Non-Baccarat Table Hold: -166 bps
Strip Total Tables:
Total Table Revs: -22.9%
Total Table Drop: -19.0%
Total Table Hold: -67 bps