Gaming Win Falls 7% in August

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

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
$50,334,354.

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

 

Strip Slots:

Slot Revs: -1.3%

Slot Handle: +0.8%

Slot Hold: -17 bps

Strip Baccarat:

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