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Nevada casino trends: Conventions and sports betting up, baccarat down

Published 10/28/2016, 09:10 AM
Nevada casino trends: Conventions and sports betting up, baccarat down
  • Casinos in Nevada reported that gaming win revenue increased 3.6% to $949M in September. The three-month revenue haul is +2.8% Y/Y.
  • Revenue on the Las Vegas Strip improved 7.5% to $542.5M, while downtown Las Vegas casinos saw a 3.6% rise during the month to $49M.
  • Casino revenue by type: Games and tables +5.5% to $363M, baccarat -7.8% to $93M, slot machines +2.4% to $13.5M, sports books +15.2% to $41M (12% hold for football).
  • The convention business boomed in Vegas during the month, with attendance up 16%. Overall visitor volume was 3.7M. The most striking metric may be the 9% increase in average room rate to $137.11, a favorable read heading into Q4.
  • Nevada Gaming Control Board full report (.pdf)
  • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
  • Related ETF: BJK.

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