Nevada casinos record second straight month of lower gaming win

Nevada casino gaming win fell 3.8% year-over-year in August to $1.16 billion, according to a release by the Nevada Gaming Control Board. Gaming win on the Las Vegas Strip was down 3.5% to $643.7 million, while downtown Las Vegas gaming win was 8.8% lower to $58.3 million. Reno casinos saw a 4.8% decline in gaming win to $65.4 million. Notably, the Nevada gaming win for August was also down on a sequential basis from the tally in July.

Slot machine gaming win was down 3.8% to $798.3 million on a hold rate of 6.4%. Table/card game win also fell 3.8% during the month on a hold rate of 13.8%. Sharp drops in Baccarat and Pai Gow gaming win were drags during the month, while Nevada sportsbooks had a strong month.

On a year-to-date basis, Las Vegas visitation volume was down 0.4% in July and convention attendance was 6.9% lower. RevPAR for Strip properties was down 3.6% to $147.38. The August numbers have not been reported yet.

Earlier in the week, Las Vegas saw it 101st day this year of temperatures of over 100 degrees, which analysts have pointed to as a small factor in tourism levels. A decline in tourists from China and discretionary spending pressures in the U.S. were called the more significant issues.

Sector watch: Caesars Entertainment (NASDAQ:CZR) +1.3%, MGM Resorts (NYSE:MGM) +2.9%, Boyd Gaming (BYD) +1.1%, Wynn Resorts (WYNN) +7.3%, Full House Resorts (FLL) +2.3%, Bally’s Corporation (BALY) +0.4%, and Red Rock Resorts (RRR) +1.4%.