Gaming win on the Las Vegas Strip fell 6.1% in December to $827.7M 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. It also marked the second straight month of a year-over-year gaming win decline.
Statewide gaming win was down 1.6% year-over-year in December to $1.44B. Downtown Las Vegas casinos saw gaming win increase 4.7% during the month to $86.1 million. Meanwhile, Reno casinos reported gaming win decreased 1.6% during the month to $64.8 million.
Across the state, gaming win was down 2.4% for the slot machine business on a win percentage of 7.0%. Table/counter/card game gaming win was up 0.1% on a win percentage of 14.7. Baccarat revenue was down 17% during the month, and Pai Gow poker revenue fell 21%, while roulette gaming win was down 11%. Gaming win at sportsbooks rose 351% year-over-year, driven higher by a strong win percentage for football games.
Notably, slot machine gaming win was down more than 7% on the Las Vegas Strip in December, which may be taken as an indication that lower-budget tourism suffered.
During the month, there were two NFL home games in Las Vegas, UFC 323, the Las Vegas Bowl college football game, and the Wrangler National Finals Rodeo, which is a comparable event calendar to a year ago.
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).