Las Vegas Sun

October 21, 2018

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Nevada casino revenue drops for second consecutive month

Image

Steve Marcus

A pay table on a slot machine displays a $1 million jackpot in the new high limit slot area at the Cosmopolitan Wednesday, Jan 13, 2016.

Gambling revenue at Nevada casinos has decreased for two consecutive months.

Data released today by the Nevada Gaming Control Board show casinos won about $913 million from gamblers in August. That's a 7.7 percent decline compared with the same month last year.

Senior board analyst Michael Lawton says casinos faced a very difficult comparison because August 2017 had a stronger calendar of events.

Lawton says the board was disappointed but not surprised by the results. He says Las Vegas Strip casinos were responsible for almost 90 percent of the statewide revenue decrease.

Some casino-resort operators during earnings calls in August indicated they expected weak results for the ongoing quarter.

The state benefited with about $46.8 million in percentage fees based on the taxable revenues generated in August.