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.
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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.