3.2percent y-o-y dip to $571.5 million reported
Figures released Wednesday by the Nevada Gaming Control Board show that revenue from Las Vegas Strip casinos in December 2017 dipped 3,2 percent y-o-y to $571.5 million.
The board noted that the decline is the third consecutive monthly dip and follows monthly gaming revenue declines of more than 6 percent during October and November.
Gaming analysts have speculated that the apparently sustained decline may be due to fewer Asian whales who boost baccarat numbers, or perhaps the competitive attractions of Macau casinos.
Michael Lawton, senior research analyst at the NGCB, said the last time there was a three-month consecutive decline in the Strip gaming revenues was in the March to May 2016 period.
“We had a month where baccarat really kind of drove the numbers for the Strip down,” said Lawton. “Without baccarat, the Strip’s win [in December] would have been up 7.5 percent, or $31.5 million.”
Baccarat revenue declined in December by nearly 30 percent year-on-year.
Hospitality experts said that the decline is being mirrored by lower hotel occupancy rates – now in the very low single digits and actually deepening to negative territory.
Statewide, Nevada casinos reported a total gaming win of $960.4 million in December, a minimal year-on-year improvement of just 1 percent.