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By Фил - 30. септембар 2024
Nevada’s gaming revenue fell by four per cent in August to come in at $1.16bn, the lowest monthly total for 16 months and marking the second consecutive month of declines.
Revenues on the Strip fell by 3.5 per cent to $643.7m, while downtown fell by 8.8 per cent to $58.4m. The biggest decline came on the Boulder Strip, which dropped by 21.8 per cent to $64.8m.
Due to the month ending on a Saturday, some slot collections, which would have normally been counted in August, will instead be recognized in September’s stats.
Michael Lawton, Senior Economic analyst for the Nevada Gaming Control Board, said: “A lot of the volatility is the result of the month of August ending on a Saturday. Slot drop and count schedules are property-by-property decisions. The individual properties can determine when they want to drop, count and record the slot revenue on a cash or accrual basis. In individual markets, where certain properties “move the needle” more than others, when the month ends on a weekend day, the “roll-over” of the slot drop can have a significant impact on the totals reported during the month.”
Slot revenue across the State was down by four per cent to $798.3m. Baccarat fell 34.3 per cent to $76.3m but blackjack climbed 6.9 per cent to $105.9m and roulette was up 22.9 per cent to $49m.
Chad Beynon, Senior Analyst for Gaming, Lodging & Theatres at Macquarie, said: “We remain positive on the non-gaming outlook in Vegas, given strong group travel and events, but slowing leisure travel could lead to a more competitive promotional environment and hurt Vegas margins. Additionally, comps in the fourth quarter and first quarter become increasingly difficult as we lap F1 and Super Bowl, respectively.”
“The strong RevPar rebound in August aligns with second- quarter commentaries from management teams for positive room-rate growth for third quarter and group room bookings pacing up mid-single digits for the remainder of 2024, in addition to mid-single-digit group growth in 2025.”
