Tag: Vegas revenue
Recreational Gamblers Boost Vegas Revenue
Casino operators in Nevada were smiling over Vegas revenue numbers in June 2016 according to the Nevada Gaming Control Board’s latest financial report. Released at the close of July, the report details a 6.9% revenue year-over-year increase thanks to a total gaming win worth $887 million. As ever, the Las Vegas strip was the biggest contributor to that haul with $488 million coming from gamblers on the iconic gambling strip. However, while the strip’s haul is 9.74% higher than the same period in 2015, that’s not the end of the story. More Action Means More Wins In addition to Vegas…
Vegas Revenue Recovery Elusive As Macau Thrive
Las Vegas revenue from casino gaming recovery remains elusive, while Chinese gambling enclave Macau continues to grow rapidly. July gambling revenue in Nevada totaled $926 million, down 8% from a year ago, state officials said. On the Las Vegas Strip, the take was down 14.4% to $522 million, and downtown Vegas revenue slipped 9.7% to $40 million. RBC Capital Markets said in a client note the shortfall in Vegas was primarily due to reduced baccarat play by high-roller VIP gamblers and a lower percentage win by casinos on The Strip. “However, results were actually weaker than reported, as slot volumes…