Analysts attributed the state’s gaming industry to a second straight month of sales declines in August to bad timing and good luck for players. Nevada’s total gaming orders in August were $1.16 billion, down 3.8% from the same period last year, according to the Nevada Gaming Commission.

The drop in game win rates is typically caused by a variety of factors, but this month, there were a number of factors, including the singularity of the calendar and the reduction in hold rates for major table games such as baccarat. The full results were published in an official Nevada Game Revenue and Collection press release (pdf).

Michael Lawton, chief economist at the Nevada Game Control Board, explained in the Las Vegas Review-Journal that the timing of the slot collection at the end of August played a significant role in the drop in sales. Since August ended on Saturday, the collection, which would normally have been recorded in the month, was instead changed to a September submission. Those delays have distorted the overall performance of August, making the numbers worse than they used to be.

Also, at Las Vegas Streep, Bakara earnings dropped dramatically. Rotten noted that Streep’s total wins, excluding Bakara, actually increased by 2.8%, or $15.5 million. However, Streep’s overall game winnings fell 3.5% to $643.7 million because of low Bakara holdings. Statewide, Clark County also reported a 4.4% drop in game wins, while downtown Las Vegas saw an 8.8% drop.

Impact of Vaccarat Holding Ratio on Results

Table gaming, especially baccarat’s performance, was a key factor in the overall decline. Joe Greff, a gaming analyst at JP Morgan, pointed out that baccarat’s holding ratio in August was much lower than the year before. Las Vegas Strip’s holding ratio in baccarat in August was 10.5%, compared with 17.8% in the same month last year.

The lower-than-average holdout rate led to a drop in casino orders, contributing to a drop in monthly sales. However, Greff stressed that this was not a reflection of the overall trend, but rather a result of timing and luck.

Mixed Results Across Southern Nevada

While most of the Southern Nevada submarket saw a dip in August, Mesquite was a notable exception. The Mesquite gaming market grew 10.2% to $14.4 million in gaming revenue. Rotten attributed this growth to the year-over-year increase in the number of August 2023 weekend days and a successful promotional campaign.

However, Boulder Streep’s gaming revenue plunged 21.8% to $64.8 million. Rotten explained that Boulder Streep has been pushed back to the next reporting period, particularly affected by the timing of slot collection.

strong tourism and air travel figures

Despite a drop in gaming sales, August has been a positive month for Las Vegas in terms of visits and tourism. The Las Vegas Convention and Visitors Authority (LVCVA) reported that 3.4 million people visited Las Vegas in August, representing a 2.4% year-over-year increase in visitors. While the rate also edged up to 81.2%, the average daily stay rose 11.7% to $175.44.

Kevin Bagger, director of the research team at LVCVA, emphasized that the impact of major events such as Labor Day weekend and Defconn convention contributed to the weekend’s share gain. “Weekend share rose 0.4 points to 90.2%, driven by the hosting of Defconn convention during Labor Day weekend and the second weekend,” Bagger said.

Air travel has also seen high growth, with ridership at Harry Reid International Airport rising 5.1% in a month. That brings total ridership to a record pace in 2024, with 4.8 million arriving and departing from the airport in August. 실시간 바카라사이트