Nevada gaming revenue slumps as Strip casino tables grow cold

Nevada casino gaming revenue took a dip in August thanks to a double-digit decline on the Las Vegas Strip.

Figures released Thursday by the Nevada Gaming Control Board show statewide gaming revenue falling 5% year-on-year to $860.7m. The downturn was driven by a poor showing on the Strip, where casinos reported revenue down 15% to $451m.

The state’s slot machines did their part to keep the numbers up, with revenue rising 3.2% to $594m, thanks to a particularly strong showing by penny slots, which rose 8.6% to $257m. But table games were uniformly negative, led by (surprise!) baccarat, which saw revenue slump 42% to $73.6m as win rate fell to 10.3%, down from 14.3% in August 2015.

Other table games fared only slightly better. Blackjack was the top table earner at $81.2m, but that was down 6.6% year-on-year. Craps was down 5.7% to $26.5m while roulette was off 0.5% to $25.4m. Three-card poker ($12.1m, +7.5%) and pai gow poker ($7.8m, +3.6%) managed gains, while mini-baccarat fell 22% to $6.4m.