According to data released by Nevada Gaming Control Board, Nevada’s total gambling revenue dropped in July 1.7% year-on-year basis. The regulatory body has announced that casinos posted $998m in revenues, down from the $1bn threshold generated in July last year.
With these figures, Nevada puts an end to a four-month streak of revenue increases. In particular, in Las Vegas where revenues shrink 7%, totalling $565m in July this year.
Nevada Gaming Control Board analyst Michael Lawton said that this year July had a fewer week which made it a really difficult comparison.
“The state was up 10.1% last July, and the Strip was up 16.8%. So for us to come in very close to $1bn and only being down 1.7%, I don’t think we can be too disappointed about those results.
“We have a lot to look forward to in the next couple of months.”
This decline is also attributed to a drop in baccarat winnings. It was down 19%, compared to the July last year.
“Baccarat had a good month, but it was nowhere near as good as last July,” Lawton added.
The state benefited with more than $69m in percentage fees based on the taxable revenues generated in July, which it signifies 1% increase over the year.
