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Nevada Gaming Revenues Fall 1% in February

Casinos in Nevada had a relatively flat month in February, bringing in $916 million in revenues that was down 1% from the same period last year.

The lower numbers are being blamed on fewer Baccarat revenues, a continuing trend for six of the last seven months. The Las Vegas Strip saw a 23% drop in Baccarat revenues, but managed to bring in $531 million for the month. If Baccarat numbers were better the industry would have seen a rise in revenues of 2.7%.

It was thought that China's crackdown on corruption would help drive traffic to Nevada from Macau, but Nevada Gaming Control Board analyst Michael Lawton says this hasn't been the case thus far. "If it was going to help Las Vegas, that hasn't happened," Lawton said "These customers are being cautious."

The rest of the Silver State had higher revenues, with statewide revenues (except for the Strip) up 4.52% to $245 million. Sports betting revenues did plunge 54.2% to $14 million in Nevada due to a poor hold on bets that were taken for the Super Bowl. Tax revenues for the state fell 1.64% to just under $58 million.

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