Cool streak: Las Vegas casinos saw a big decline in gaming win during July

Nevada casino win fell 6.9% year-over-year in July to $1.31 billion, according to a release by the Nevada Gaming Control Board. Gaming win on the Las Vegas Strip plunged 15.0% to $709.4 million, while downtown Las Vegas gaming was up 9.9% to $71.8 million. Reno casinos saw a 4.1% decline in gaming win to $69.3 million.

Slot machine gaming win was up 2.6% in July to $914.1 million on a hold rate of 7.6%, but table/card game win fell 23.5% to $392.7 million on a hold rate of 14.4%. Sharp drops in Baccarat and Pai Gow gaming win were significant revenue disappointments for the month. Other potential negative factors include the convention calendar comparison from a year ago, the record-breaking heat wave in Nevada during July, economic pressure on Chinese high-end consumers, and a relative lull in the entertainment schedule.

On a year-to-date basis, Las Vegas visitation has been up 3.8% year-over-year to 21.1 million visitors through the end of June. Hotel occupancy has averaged 84.1% vs. 84.0% a year ago, and the average daily room rate is up 6.6% year-over-year to $196.01.

Sector watch: Caesars Entertainment (NASDAQ:CZR) -3.1%, MGM Resorts (NYSE:MGM) -3.5%, Boyd Gaming (BYD) -1.1%, Wynn Resorts (NASDAQ:WYNN) -2.6%, Full House Resorts (FLL) +1.8%, Bally’s Corporation (BALY) -0.3%, and Red Rock Resorts (RRR) -0.2%.