Nevada’s nonrestricted gaming licensees reported a total “gaming win” of 996,439,793 for the month of July 2018, according to the state’s Gaming Control Board. This amounts to a 0.16% decrease compared to July 2017, when licensees reported a gaming win of $997,994,304.
In Southern Nevada, the Strip saw a 5.75% decline compared to July of 2017, driven by a drop in table play. Meanwhile, the other regions in Clark County saw gains, with the Boulder Strip leading the way up 18.5% from a year ago.
In Northern Nevada, Reno saw a decline of 1.4% while other areas saw gains. South Lake Tahoe gaming win was up 25.5% YOY. After leading the state last fiscal year, West Wendover saw a small dip as well. An interesting month, but far to soon to declare any trends for the new FY.
The State collected $55,805,243 in percentage fees during the month of August 2018, based upon the taxable revenues generated in July 2018. This represents a 19.30% (or $13,348,232) decrease compared to the prior year’s August, when percentage fee collections were $69,153,475.
Here’s some breakdowns from our friends at Deutsche Bank:
July LV Strip Revs: -5.7% y/y (DB -1.2%)
3Q18 LV Strip Revs: -5.7% y/y
July LV Locals Revs: +9.6% y/y
3Q18 LV Locals Revs: +9.6% y/y
July Reno Revs: -1.4% y/y
3Q18 Reno Revs: -1.4% y/y
Slot Revs: +3.0%
Slot Handle: -4.9%
Slot Hold: +63 bps
Baccarat Revs: -18.1%
Baccarat Drop: -0.9%
Baccarat Hold: -282 bps (13.4% versus hold of 16.3% in July, 2017 and an LTM average of ~13.3%)
Strip Non-Baccarat Tables:
Non-Baccarat Table Revs: -10.6%
Non-Baccarat Table Drop: -0.5%
Non-Baccarat Table Hold: -166 bps
Strip Total Tables:
Total Table Revs: -14.0%
Total Table Drop: -0.7%
Total Table Hold: -212 bps