Nevada Gaming Win Down for November
The month of November was not as successful as last year in Nevada with the state seeing a decrease in revenues of 1.5%.
Every month, the Nevada Gaming Control Board releases the totals from the operating casinos of the state so the public as well as the casino operators can see just how they performed. It is always interesting to take a look at the totals, as some casinos may be busier than others as well as certain games outperforming the others offered on the gaming floor. Months are compared from year to year as well as month to month to see how successful the industry is. For Nevada, the month of November saw a slight dip in revenues with 1.5% less than last year.
November 2016 Totals
For the month, the state was able to earn $930.4 million in November which is slightly less than the $944.3 million earned the same month in 2015. As far as gambling taxes are concerned, the state brought in $56 million which is a 3.5% decrease than the same month the year before. In both areas the state was lacking if you compare totals from 2015.
Even though there was a slight decrease in earnings, analysts say that Nevada is still heading in a positive direction. Nevada Gaming Control Board analyst Michael Lawton stated that even though there was a decline, the state is going the right way. Nevada is facing a difficult comparison according to Lawton as in 2015, the state was up 7.8% but only three decreases have been recorded within the last six months so when you look at the calendar year, there is a 1.7% increase.
The casino market of the state is also up for the fiscal year with an increase of 3.5%. This time frame covers from the 1st of July to the 30th of November. Revenues currently sit at $4.7 billion. The amount for 2015 was $4.6 billion.
Slot machines performed well in the state for November with a total contribution of $605.2 million which is a 1.5% increase when compared year on year. Table games were down though, with a decrease of 6.5% and a total of $325.2 million generated. Baccarat would account for the majority of the losses for the state.
When looking at individual game figures, blackjack was up quite a bit with $95.8 million earned and 12.9% in increased earnings from 2015. Roulette was up an amazing 38.9% with $33.6 million produced. Craps was up as well, bringing in $29.1 million which is just over 9% more than 2015. Baccarat was down though, with earnings of $84.8 million which is 22.8% less than what was earned in 2015.
Three card poker produced just over $10 million which is a 15% decrease when compared to November 2015. Pai gow poker was up a good 23% with $8.2 million earned. Mini-baccarat joined baccarat with a loss of 1.2%, bringing in $7.3 million in earnings.
When looking at the overall figures, analyst Lawton stated that if you take away the big loss in baccarat, the state total win will increase by 1.3%. In monetary value this is $11.2 million. By looking at it this way, once can see that non-baccarat gaming win is on the rise and slots also were up considerably.
Looking at individual areas of the state, the Las Vegas Strip was able to earn $517 million which is around 3.5% less than what was earned in 2015. In Downtown Las Vegas, the earnings were $51 million which is a decrease of 5.5%. Reno saw a rise in revenues, earning $46 million which is 3% more than last year. South Lake Tahoe saw the largest increase when compared to November 2015, with $16 million earned, an increase of 12.5%.