Gaming win on the Las Vegas Strip slipped 0.6% in November to $784.3 million on a year-over-year comparison. The report from the Nevada Gaming Control Board confirmed that headwinds such as pricing concerns and international tourism declines continue to impact the Las Vegas Strip.
Statewide gaming win was up 2.4% year-over-year in November to $1.35 billion. Downtown Las Vegas casinos saw gaming win jump 10.3% during the month to $87.2 million. Meanwhile, Reno casinos reported gaming win increased 7.1% during the month to $55.6 million.
Across the state, gaming win was up 7.7% for the slot machine business on a win percentage of 6.8%. Table/counter/card game gaming win fell 6.2% on a win percentage of 13.9%. Baccarat revenue was down 6% during the month and Pai Gow poker revenue fell 27.6%, while roulette gaming win was down 37%. Gaming win at sportsbooks rose 7.9% year-over-year, driven higher by a strong win percentage for football games.
During the month, the Formula 1 Las Vegas Grand Prix took place, and UFC held several high-profile events. Notable residencies and concerts include Kelly Clarkson and Alanis Morissette at Caesars (CZR) properties, Jackson Browne at the Venetian, New Kids on the Block at Park MGM, and long-running shows from Donny Osmond and Barry Manilow.
Sector watch: Caesars Entertainment (CZR), MGM Resorts (MGM), Boyd Gaming (BYD), Wynn Resorts (WYNN), Full House Resorts (FLL), Bally’s Corporation (BALY), VICI Properties (VICI), Sportradar (SRAD), Genius Sports (GENI), Gaming & Leisure Properties (GLPI), and Red Rock Resorts (RRR).