Gaming win in Nevada tops $1B in May

Updated June 29, 2018 - 12:49 pm

State gaming win returned to its billion-dollar ways in May, posting a monthly total of $1.04 billion, a 5.3 percent increase over last year, state officials reported Friday.

It was the fourth time in five months that winnings at the state’s 434 licensed locations topped the billion-dollar mark.

It also marked the best performance for the beginning of a calendar year since 2008. Win fell below $1 billion in April.

Slot-machine win statewide and Las Vegas Strip baccarat play boosted May’s results, according to Michael Lawton, senior research analyst for the administration division of the Control Board.

“The driver for this month was strong Strip baccarat win, which was up $21.4 million due to improved hold,” Lawton said. “Statewide slot win was up a solid 3.6 percent or $23 million due to continued increases in volume, up 2.5 percent. In fact, the state has recorded 15 consecutive months of increases to slot volume.”

Casino sports betting win also was up significantly, by $17.5 million or 590.5 percent. That was a result of the state’s sports books recording their largest loss in state history for basketball, $4.4 million, in May 2017.

Joseph Greff, a gaming industry analyst for New York-based J.P. Morgan, also noted that the growth was impressive because the May calendars of 2017 and 2018 were similar with eight weekend days. He expects numbers to be elevated in June with 10 weekend days in June compared with nine in June 2017.

Clark County was responsible for 86.6 percent of the state’s monthly win total with $904.6 million. County win hadn’t hit the $900 million mark since January 2017 and prior to that, December 2013.

County win was up substantially thanks to the $581.5 million total from the Strip, up 6.3 percent from last year, more than offsetting a 3.5 percent decline to $53.3 million for downtown Las Vegas.

Of the 20 markets monitored by the Control Board, only two — downtown Las Vegas and the Boulder Strip — had year-over-year revenue declines in May.

The three-month gaming revenue trend for Clark County, generally a more accurate gauge of win activity because it eliminates volatile swings resulting from calendar comparisons, shows the county’s 212 licensees’ win up 5.5 percent for March, April and May compared with those months in 2017.

The Las Vegas Convention and Visitors Authority also reported Friday that visitor volume was flat compared to a year ago, up 0.8 percent to 3.6 million.

The date shift of the Electric Daisy Carnival, from June in 2017 to May in 2018, may have prevented a visitation decline for the month.

Convention attendance fell 5 percent for the month to 489,100, the lowest monthly convention attendance total of the year so far. LVCVA officials said the decline was the result of a mix of smaller conventions and trade shows this year.

Citywide occupancy was up 0.3 percentage points to 89.4 percent for May. The average daily room rate also was up 7.4 percent to $133.75. The LVCVA’s calculations don’t include resort fees.

For the first five months of 2018, visitation is off slightly, down 0.8 percent to 17.5 million people. Convention attendance is down 4 percent to 3 million.

Contact Richard N. Velotta at or 702-477-3893. Follow @RickVelotta on Twitter.

Bellagio, MGM Resorts International’s luxury hotel turns 20
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Facial recognition software at G2E – Todd Prince
Shing Tao, CEO of Las Vegas-based Remark Holdings, talks about his facial recognition product. (Todd Prince/Las Vegas Review-Journal)
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Bobby Baldwin to leave MGM
MGM Resorts International executive and professional poker player Bobby Baldwin is set to leave MGM.
Caesars has new armed emergency response teams
Caesars Entertainment Corp. has created armed emergency response teams. They are composed of former military and law enforcement officials. "These teams provide valuable additional security capabilities,” Caesars spokeswoman Jennifer Forkish said. Caesars is hiring Security Saturation Team supervisors, managers and officers, according to LinkedIn. The company did not say how many people it plans to hire for the units. (Las Vegas Review-Journal)
Las Vegas, airlines prepare for CES
CES in January is expected to attract more than 180,000 attendees. (Las Vegas Review-Journal)
AGS partners with Vegas Golden Knights
AGS is the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions. It announced a marketing partnership with the Vegas Golden Knights NHL team. (Las Vegas Review-Journal)
Lehman Brothers bet big on Las Vegas
Lehman Brothers collapsed 10 years ago, helping send the country into the Great Recession.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Ross & Snow launches in Las Vegas
Luxury shoe brand Ross & Snow has opened in Las Vegas, featuring "functional luxury" with premium shearling footwear. (Bailey Schulz/Las Vegas Review-Journal)
Remote Identification and Drones
DJI vice president of policy and public affairs discusses using remote identification on drones. (Bailey Schulz/Las Vegas Review-Journal)
Drones and public safety in Nevada
Two representatives in the drone industry discuss UAV's impact on public safety. (Bailey Schulz/Las Vegas Review-Journal)
Frontier Airlines to launch flights from Las Vegas to Mexico
Frontier, a Denver-based ultra-low-cost carrier, will become the first airline in more than a decade to offer international service to Canada and Mexico from Las Vegas when flights to Cancun and Los Cabos begin Dec. 15. (Rick Velotta/Las Vegas Review-Journal)
MGM Resorts International CEO Jim Murren addresses Oct. 1 lawsuits
MGM Resorts International Chairman and CEO Jim Murren addresses criticism his company has received for filing a lawsuit against the survivors of the Oct. 1 shooting. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International opens the doors on MGM Springfield
Massachusetts’ first hotel-casino opens in downtown Springfield. The $960 million MGM Springfield has 252 rooms and 125,000-square-feet of casino. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International prepares to open MGM Springfield
Las Vegas-based MGM Resorts International gave news media and invited guests a preview of the $960 million MGM Springfield casino in Massachusetts. The commonwealth's first resort casino will open Friday, Aug. 24. (K.M. Cannon/Las Vegas Review-Journal)
A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like