Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $960,384,350 for the month of December 2017, according to the state’s Gaming Control Board. This amounts to a 0.44% increase compared to December 2016, when licensees reported a gaming win of $956,173,169. For the fiscal year (July 1, 2017 through December 31, 2017), gaming win has increased 2.22%.
The Strip saw a 3.25% decline compared to December 2016, bringing Clark County overall down about nine-tenths of a percent. While not happy news, the silver lining is that any negative impacts from the October 1 tragedy appear to be tapering off. North Las Vegas had a great December, while Downtown continues to hold the best growth for the fiscal year to date at 7.9 percent.
Breaking with recent trends, North Lake Tahoe took the biggest dip in Northern Nevada, falling almost 10 percent compared to a year ago. Reno and outlying areas of Washoe County saw the best gains in December and are doing the best for the FY to date, as well. Elko County’s Wendover is actually doing the best of any of the areas being tracked by the state.
The State collected $33,523,521 in percentage fees during the month of January 2018*, based upon the taxable revenues generated in December 2017. This represents a 19.16% (or $7,947,572) decrease compared to the prior year’s January, when percentage fee collections were $41,471,093.
Below find some additional insights from our friends at Deutsche Bank. The Strip’s decline was driven mainly by a fall in Baccarat revenues:
December LV Strip Revs: -3.3 y/y (DB -0.3%)
4Q17 LV Strip Revs: -5.1% y/y
2017 LV Strip Revs: +1.3% y/y
December LV Locals Revs: +2.3% y/y
4Q17 LV Locals Revs: +5.1% y/y
2017 LV Locals Revs: +4.0% y/y
Slot Revs +6.1%
Slot Handle +1.3%
Slot Hold +33 bps
Baccarat Revs -29.9%
Baccarat Drop -8.9%
Baccarat Hold -366 bps (12.2% versus hold of 15.8% in December, 2016 and an LTM average of ~13.0%)
Strip Non-Baccarat Tables:
Non-Baccarat Table Revs +13.4%
Non-Baccarat Table Drop -2.4%
Non-Baccarat Table Hold +213 bps
Strip Total Tables:
Total Table Revs -8.9%
Total Table Drop -5.4%
Total Table Hold -52 bps