Las Vegas casinos see gaming win decline again amid soft tourism from Asia, Canada and Mexico

Gaming win on the Las Vegas Strip fell for the fourth straight month, according to a new report from the Nevada Gaming Control Board.

Statewide gaming win was down 2.2% year-over-year in May to $1.29 billion. The Las Vegas Strip saw a decline in gaming win of 3.9% to $742.5 million, and downtown Las Vegas casinos saw a gaming win drop of 11.4% for the month. Reno casinos saw gaming win decline 2.8% during the month to $65.3 million.

Las Vegas Strip gaming win down 4.6% for the slot machine business on a win percentage of just 6.6%. Table/counter/card game gaming win was up 2.8% on a strong win percentage of 15.5%. Baccarat revenue was down 6.3% during the month, with international visitation a concern. However, Craps gaming win was up 21% from a year ago off a win percentage of almost 18%. Notably, gaming win at sportsbooks rose 30% year-over-year during the month off strong results for baseball and hockey games.

The downturn in Las Vegas gaming revenue comes alongside a broader decline in travel to the city. Data from Harry Reid International Airport indicated that passenger numbers for May fell for the fourth consecutive month. Wall Street analysts have pointed to very soft tourism trends from Canada and Mexico as a general headwind for Las Vegas visitation numbers.

Sector watch: Caesars Entertainment (NASDAQ:CZR), MGM Resorts (NYSE:MGM), Boyd Gaming (BYD), Wynn Resorts (WYNN), Full House Resorts (FLL), Bally’s Corporation (BALY), Sportradar (SRAD), Genius Sports (GENI), and Red Rock Resorts (RRR).