LV Strip leads Nevada’s gaming win to 8.95 percent up in August

Las Vegas Strip drove most of Nevada’s August gains.

According to a report released by the Nevada Gaming Control Board, the state’s major gaming markets reported increases during August. The Las Vegas Strip was up 8.95 percent on gaming revenues of US$520.6 million and Reno climbed 4.66 percent on revenues of US$64.6 million. Three straight months of gaming revenue increases pushed the Strip into positive territory for 2019, which is now up 0.1 percent through August compared to a year ago. Nevada as a whole is 0.7 percent higher through August. Those positive tree months of gaming win trend represent a 6.2 percent upsurge statewide for the months of June, July and August. On the Strip, the three-month win trend was up 9.4 percent. Statewide, five of the 20 markets monitored by the Board were down for the month: North Lake Tahoe (-17.4 percent to US$2.7 million), North Las Vegas (-16.5 percent), Boulder Strip (-12 percent), Downtown Las Vegas and South Lake Tahoe (both -11.6 percent).

Las Vegas Strip drove most of Nevada’s August gains with strong table and slot play. For the month, table game revenues showed an increase of 17.4 percent: blackjack +29.2 percent; craps +67.3 percent; roulette +43.3 percent, and sports +111 percent. Additionally, the Strip continued to see high slot play, with a 5.2 percent increase in volume and a 1.6 percent advance in win.

Besides, in Nevada, casinos collected US$18.7 million in revenues from sports betting, an increase of 48.7 percent, while wagering on sports developed 16.1 percent to US$287.8 million. Visitation for the state rose 0.7 percent to 3.58 million in August and convention traffic grew 1.7 percent to 657,800, according to the Las Vegas Convention and Visitors Authority. Citywide occupancy held flat at 87.7 percent for the month, but the average daily room rate escalated 4.6 percent to US$120.96, and revenue per available room raised 4.6 percent to US$106.08.