Las Vegas Strip Revenues Up Almost 9% In August

Posted on by & filed under Nevada by the Numbers Blog.

Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $952,404,403 for the month of August 2019. This amounts to a 4.30% increase compared to August 2018, when licensees reported a gaming win of $913,099,059. For the fiscal year (July 1, 2019 through August 31, 2019), gaming win has increased 3.57%.

In Clark County, the Las Vegas Strip led the way with an impressive 8.95% increase in gaming win from August 2018. Downtown gaming saw a slight contraction of 1.94% while North Las Vegas had the largest loss with a 16.5% decline in revenue over the year. Here’s a breakdown from our friends at Deutsche Bank showing that the tables were on fire in August:

Strip Slots:

Slot Revs: +1.6%

Slot Handle: +4.9%

Slot Hold: -25 bps

Strip Baccarat:

Baccarat Revs: +6.0%

Baccarat Drop: -7.1%

Baccarat Hold: +190 bps (15.2% versus hold of 13.3% in August, 2018 and an LTM average of ~12.0%)

Strip Non-Baccarat Tables:

Non-Baccarat Table Revs: +25.4%

Non-Baccarat Table Drop: +7.3%

Non-Baccarat Table Hold: +240 bps

Strip Total Tables:

Total Table Revs: +17.6%

Total Table Drop:+1.1%

Total Table Hold: +220 bps

 

In Northern Nevada, Sparks had the highest increase in gaming with with 10.7% but Reno’s 4.66% gains were also strong. Lake Tahoe saw double-digit losses on both its north and south shores. And mighty West Wendover again leads the state for monthly and fiscal year gaming win growth.

The State collected $50,066,196 in percentage fees during the month of September 2019, based upon the taxable revenues generated in August 2019. This represents a 6.92% (or $3,239,031) increase compared to the prior year’s September, when percentage fee collections were $46,827,165.