Nevada gambling revenues sink 2 percent in April

Official numbers released by the Nevada regulator show that revenues in the Silver State continued to decline in April, and were down an overall 2 percent year-on-year at $876 million

Las Vegas Strip gambling revenue was down almost 2 percent to $491 million, and downtown Las Vegas winnings were down 13 percent to $43 million.

The drop came even though it was an eventful month in Las Vegas that included the debut of the T-Mobile Arena, Rihanna and Bill Joel concerts and a fight featuring Manny Pacquiao.

Analysts at the Nevada Gaming Control Board explained that the year-over-year drop was in part because April 2015 was a strong comparison point, and in part because an estimated $30 million in slot revenue from April will actually only be counted in May…. April ended on a Saturday, and casinos do not include slot revenue on the weekends to avoid disturbing activity on the casino floor during a busy time.

Slot machine revenue was down about 5 percent in April 2016 last month.

Total amounts wagered went up about 4 percent to $9.1 billion in April, but casinos retained just 6.2 percent of that amount – lower than the same period last year. Baccarat revenue, a major contributor from high stakes players, was thankfully up 4 percent earning 10 percent more for the operators at $105 million.

The state coffers benefitted in April to the tune of $44 million from gambling taxes….down 18 percent compared to the same period last year.