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Gambling Revenues in Nevada Fall Two Months in a Row
- August 31, 2015 By Oliver Young -
According to the Nevada Gaming Revenues and Collections report published by the Nevada Gaming Control Board, the gaming revenues in the state have fallen for the second month running. As it is highlighted in the document, the total gaming win of $922,886,804 is 0.95% lower than the total gaming win in July, 2014.
In addition to the statewide report, the document features information about the performance of different counties and areas in Nevada. Therefore, the most popular Clark County witnessed a fall of 1.72%; its revenues of $786,640,587 were a bit lower than the last year’s $800,383,799. The Las Vegas Strip noted a bigger decrease of 2.09% after it made “only” $524.96 million in comparison to $536.15 million in July, 2014.
Other losers in Clark Country were North Las Vegas (9.41%), Laughlin (1.77%) and Boulder Strip (11.06%). Downtown Las Vegas and Mequite, on the other hand, showed better performance y-o-y with their growth of 6.54% and 1.2% respectively. The balance of the County also reported a positive percentage of 6.01% (from $87.42m in July 2014 to $92.68m in July 2015).
Washoe County and Elko County noted a progress and improved numbers than the ones last year, whereas South Lake Tahoe, just like Clark County, had lower gaming revenues. A big jump of 10.35% was seen in the Carson Valley Area as well. Nevertheless, even with such growth the total earnings of the Area couldn’t reach $9 million.
Slot Machine Revenue Up, Baccarat Earnings Down
When it comes to the casino games that generated the revenues, it can be concluded that slot machines are becoming more attractive, whereas the interest in baccarat falls. As a result, Nevada saw 5.5% higher slot machines revenue of $600 million and 23% lower baccarat winnings of $104 million.
However, the decrease of total gaming win generated from baccarat is partly affected by the crackdown on wealthy Asian punters. Thus, the revenues not only fell this month, but they have been falling for quite some time now as well.
The overall card game statistics reveals the low level of action on Nevada’s tables. The general revenues have gone only 1% up in comparison with last year and reached relatively low $11.5 million.
Percentage Fee Collections Jumped for 7.48%
Another interesting fact provided by the Nevada Gaming Control Board is the one about the percentage fee collections for August, 2015. Turns out, the state collected $56,947,957 in percentage fees for August, based on taxable revenues earned in July, 2015. Since last year this number was lower $52,986,020, Nevada noted a 7.48% or $3,961,937 increase in percentage fees.
However, even though some of the numbers show growth and strong revenues, it is disturbing that July is the second month in a row that revealed worse overall results than the ones last year. The Board’s report for June presented an 8% fall to $831 million y-o-y. Then, just like now, the main reason for the unfavourable numbers was found in the sharp fall in baccarat revenues.