According to the latest statistics, there was a 6.1% decrease in revenue at Nevada casinos in August this year, with gambling establishments taking in $887 million in that month.
The Nevada Gaming Control Board said that gambling revenue on the Strip dropped 8.7% compared to August last year, and casinos collected just under $500 million in winnings. Casinos in Reno collected $47 million, a significant 11.2% drop compared to the same month last year.
Other statistics released in the latest report show:
* Casinos in South Lake Tahoe showed an increase in winnings, climbing 16.2% to bring in $27 million.
* Boulder Strip also showed an increase in revenues.
* Taxes collected statewide from gambling revenues dropped 26.6% to $47.2 million, a significant point considering that casino taxes account for one third of the general fund revenues for the State of Nevada.
* Gambling revenues dropped 1.5% to $1.75 billion for the fiscal year.
An interesting observation was the fact that the sudden drop in revenue from baccarat games offered at Nevada casinos seems to have affected the overall decrease in revenue. In August, there was a drop of 40% in money won by casinos statewide from the game to $96.4 million. This drop wasn’t only confined to classic baccarat, and revenues from mini baccarat slipped 20%.
In comparison, Atlantic City casino gambling revenue fell only 0.6% in September. This however, still marked a further decline in the past three years as the area struggles to compete with casinos in neighboring states. The New Jersey Casino Control Commission data noted that this was the smallest drop in more than a year, giving hope to the casinos in Atlantic City.
Vegas continues to seek out opportunities in the online market, but for now people are playing at the USA accepted casinos online.
Comments are closed.