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Nevada Gambling Revenue Falls for the Second Straight Month

TAGs: gaming revenues, Las Vegas, Lee Davy, Macau, Nevada, Nevada gaming control board

Gambling revenue in the state of Nevada falls for the second straight month, mirroring the Las Vegas of the East, Macau, which has seen revenues decline for a fourth straight month.

Nevada Gambling Revenue Falls for the Second Straight MonthWith Santa Claus sending his sled into the garage for its once a year maintenance regime are the world’s gamblers shying away from the casinos and instead saving their money for the upcoming present fest?

When you look at the numbers, it appears so.

The state of Nevada, once the king of the gambling world, has reported a 6% year-on-year decrease in September revenue, making it the second straight month that revenue has declined in the dusty desert.

The news mirrors that of the new king of the gambling world. Macau reported a declined in September revenue of 11.7% (their fourth consecutive slide) and experts predict another torrid month, with talk of more than 20% setting the bar.

The Nevada Gaming Control Board issued their Gaming Revenue Report, on Tuesday, and the main talking point is the $902m that it brought in last month. That was a decline from the $920m it brought in during August, and a 6% fall from the $959m brought over the same period last year.

The beating heart of the Las Vegas Strip saw revenue fall 12% year on year to $495m. Roulette takings were the only plus point – up 14.52% to $26.5m. Combined table games and other games were down 19.55%. Slots were also down 3.81% to $249m.

Downtown revenues also headed south down 4% year on year to $43m. The one shining light being sports betting on the football with earnings up 43.98% to $1.8m. Casinos in Reno saw a 2% drop year on year to $48m, and gambling revenues for the entire state’s last three months performance are down 3% year on year. The only positive, in a whole lot of negatives, is the performances of the casinos in South Lake Taho who were up 7% to $24m.

The report also showed a nosedive for online poker with a 6.7% drop in September to $693,000, and that’s the worst return since the Nevada Gaming Control Board started revealing their magical numbers. The year-on-year figures show a 8.9% drop.

The World Series of Poker may have shown the world what online poker could look like in the state, but since everyone packed their bags and headed to the next big tournament revenues have plummeted by as much as 30%.

The full report can be found here.

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