Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $1,062,795,796 for the month of October 2018, according to the state’s Gaming Control Board. This amounts to a 7.47% increase compared to October 2017, when licensees reported a gaming win of $988,966,026. For the fiscal year (July 1, 2018 through October 31, 2018), gaming win has increased 0.17%.
In Southern Nevada, the Strip led the way with a 12.24% increase over October 2017. It’s important to remember that revenue fell hard on the Strip in the last quarter of 2017 in the wake of the October 1 tragedy. Laughlin also saw double-digit gains, while the rest of the county saw more modest gains and the Boulder Strip was the only region to see a slight decline.
In Northern Nevada, North Lake Tahoe saw a strong 18.7% increase in gaming win. South Lake Tahoe and Sparks also saw gains, while Reno and other areas saw small decreases.
Underlying details from our friends at Deutsche Bank show that international gaming in the form of baccarat revenues is still down – a ripple from the trade war?
October LV Strip Revs: -+12.2% y/y (DB +4.9%)
October LV Locals Revs: +0.7% y/y
October Reno Revs: -2.7% y/y
Slot Revs: +8.6% y/y
Slot Handle: +5.1% y/y
Slot Hold: +27 bps y/y
Baccarat Revs: -11.3% y/y
Baccarat Drop: +52.9% y/y
Baccarat Hold: -637 bps y/y (8.8% versus hold of 15.2% in October, 2017 and an LTM average of ~12.7%)
Strip Non-Baccarat Tables:
Non-Baccarat Table Revs: +30.5% y/y
Non-Baccarat Table Drop: +8.8% y/y
Non-Baccarat Table Hold: +282 bps y/y
Strip Total Tables:
Total Table Revs: +16.5% y/y
Total Table Drop: +23.2% y/y
Total Table Hold: -77 bps y/y
The State collected $56,916,239 in percentage fees during the month of November 2018, based upon the taxable revenues generated in October 2018. This represents a 4.65% (or $2,774,153) decrease compared to the prior year’s November, when percentage fee collections were $59,690,392. For the fiscal year to date, collections are down 9.92% or roughly 29 million dollars.