On Thursday, September 27th, the Nevada Gaming Control Board published a report which showed that the Gambling revenue at Nevada casinos has declined for a second consecutive month in August 2018.
Proving that the projections made by a few casino-operators for the ongoing quarter hold substantial value.
According to the report published by the Nevada Gaming Control Board, it shows that nearly $913 million was won by casinos from gamblers in the month of August 2018. Which is 7.7 percent lesser in comparison to the month of August 2017.
According to Senior board analyst Michael Lawton, he said that the board is indeed disappointed, however the results were kind of expected as casinos have had to face a difficult comparison with August 2017, as in that year there were several binge-worthy events, for instance, the fight between Floyd Mayweather Jr. and Conor McGregor in Las Vegas in particular.
In a statement, Lawton went on to say, “It was duped as the fight of the century by some individuals, the fight drew a lot of those gaming numbers last August.”
The Senior Board Analyst then added, “For this year’s August month, we did not have any event lined up that could be anywhere close to replicating something of that magnitude. So, we were sort of prepared for a tough month ahead of us.”
Lawton has said that the revenue loss was mainly due to table games, that normally see an increase in activity during the time of boxing matches.
For this calendar year so far, August month’s revenue is the lowest reported by the Nevada Gaming Control Board.
Casinos on the Las Vegas Strip reported Revenue for the month of August was about $477.9 million, down by 12.4 percent, as reported by Casinos on the Las Vegas Strip, that are responsible for roughly 90 percent of the state-wide decrease in revenue.
Revenue of Boulder Highway Casinos saw their revenue plunge by 16.3 percent to roughly $62.2million, however, during the same time there was a 4.8 percent drop in the revenue of downtown Las Vegas casinos which is almost $46.2 million.
Significantly, a majority of markets of the board monitors in northern Nevada had a completely contrasting outcome as they enjoyed an increase in their revenues.
Casinos based out of Lake Tahoe’s south shore in Stateline published revenue of nearly $26.8 million, showing a 4.7 percent increase, as Casinos based out of Reno raked up nearly $61.6 million, showing a 7.3 percent increase.
Based on the taxable revenues generated for the month of August, The state benefited roughly $46.8 million in percentage fees.