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Nevada's August Gaming Revenues Drop

The Nevada Gaming Control Board revealed that the Silver State's gaming revenues for the month of August dropped 3% over the same period last year.

Statewide, gaming revenues for the month of August were $859.2 million.

The Las Vegas Strip was down 1.2% to $490.9 million and downtown Las Vegas brought in $36 million, which was down 8.4% for the month.

The state brought in tax revenues of $50 million for them onth.

Commenting on the results, JP Morgan Analyst Joe Greff said: "We believe these results are consistent with investor expectations of relatively soft summer spend trends on the Strip as evidenced by our weekly room rate survey. At the end of the day, we believe these results point to a continued uneven recovery on the Las Vegas Strip, which represents no change from prior and more recent views."

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