Nevada gaming revenues up 6.1 percent to $855.7 million in April

Nevada gambling revenues rose more than 6.1 percent in April, to $855.7 million, compared with the same month last year, the state Gaming Control Board announced Tuesday.

The single-digit increase was a return to the plus side after a 10.8 percent decline in March.

The state posted revenue increases of 5.7 percent in February and 18.4 percent in January, according to figures compiled by Nevada gaming regulators.

Analysts described the results as mixed, with high-end games returning strong results while table games and slots that appeal to a mass market were down for the month.

“This trend should benefit Las Vegas Strip gaming operators that cater to baccarat play, including Las Vegas Sands, Wynn Resorts and some of the high-end MGM properties and Caesars Place,” said Bill Lerner, an analyst with Union Gaming Group in Las Vegas.

Lerner said he expects growth in “high-end play” to continue into next month’s May results, while May’s strong event calendar should bolster mass market results.”

The Nevada Gaming Control Board said results were mixed among the state’s gaming centers in April, with the majority of revenue gains posted in Southern Nevada. The Strip’s total was $459.3 million, up 7.45 percent from April 2011.

“The strength on the Strip stemmed largely from an increase in table hold and baccarat drop,” said Carlo Santarelli, an analyst with Deutsche Bank. He noted table hold was up 7.7 percent in April compared with 6.8 percent in the same month last year, while year-over-year baccarat drop was up 32.6 percent on the Strip.

Downtown Las Vegas reported a 24.99 percent increase in revenue, to $48.5 million, while North Las Vegas reported the largest increase at 42.3 percent, to $26.9 million, in April.

The Boulder Strip won $70.1 million, a 20.4 percent gain, while Laughlin reported $40 million, a 0.48 percent increase over the same month last year. Mesquite posted a 0.85 percent decline to $11 million, compared with April 2011.

Overall, Clark County reported an 8.8 percent revenue increase, to $743.6 million.

Casinos in Northern Nevada, which compete with California’s Native American casinos, didn’t fare as well.

Washoe County, which includes Reno and Sparks, posted $54.1 million in gaming revenues, a 15.4 percent decline. North Lake Tahoe reported a 15.8 percent decline, to $1.6 million, while South Lake Tahoe was off 4.4 percent, to $13.7 million.

“We view these results as being largely in line with expectations for the month and a continuation of volatile, though directionally favorable, trends,” Santarelli said. “We note that the calendar in April was unfavorable with two less weekend days, though revenue accounting in the month, given the March ending, was a benefit.”

State officials collected $48.5 million in taxes based on the April winnings, a 13.9 percent increase from the same month last year.

Total slot machine revenue in Nevada was $586.9 million, a 9.7 percent increase from April 2011. The state’s numbers from table games were off 0.66 percent in April, to $259.6 million.

Baccarat, the game favored by high-end international gamblers, reported a 14.8 percent increase in revenues in April to $66.1 million. Baccarat hold was 10.1 percent, slightly below its normal hold of 11.5 percent.

Lerner said the “strong baccarat numbers assuage investor fears about a slowdown in China negatively impacting high-end domestic play.”

Revenues for blackjack were off 7.6 percent, while craps declined 1.6 percent in April. Smaller games, such as minibaccarat posted a 30.1 percent decline in April, while revenues for pai gow gained 554.2 percent.

Contact reporter Chris Sieroty at or 702-477-3893

Bellagio, MGM Resorts International’s luxury hotel turns 20 – Tara Mack
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
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
News Headlines
Add Event
Home Front Page Footer Listing
You May Like

You May Like