The state of Nevada has released its April 2016 gaming numbers, revealing that revenues were down 2% when compared to the same period in 2015.
For the month Nevada's casinos brought in $876 million, which was down 2% from last year. The Las Vegas Strip saw its revenues fall 2% to $491 million, while Downtown Las Vegas revenues were down 13% at $43 million.
Slot revenues were down 5% last month, although the amounts wagered was up 4% to $9.1 billion. Despite that huge amount, the casinos only had a win margin of 6.2%, which is lower than normal. Baccarat numbers were up though, bringing in $105 million in revenues for the month. Online poker revenues are not accounted for in the report.
The state's tax haul was $44 million for the month, down 18% when compared to April of last year.
The lower numbers are a surprise, as the state saw a Manny Pacquiao fight as well as concerts from Billy Joel and Rhianna, all of which brought in large numbers of visitors.
Comments
It's questionable what is the future of the land based casino industry all over the world and in Nevada in particular. I think the drop in revenues is steady and not too huge at the moment but I understand the signs are worrying for the owners of this casinos. Still it quite normal movement in revenues because of the progress of the online gambling.