It seems the city of Nevada Gaming has fallen short on the money this year as it has gained yet another loss in revenue. This marks the 4th month of the year, May 2019, where sales have plummeted, proving that the state needs to do more if it wishes to pick up the pace for its gaming hubs. The total revenue for April reached only just $936.5 million, which is down 1,8% from previous months.
Further Details of the Nevada Gaming Decline
Many of the major Nevada gaming hubs have reported these decreases in sales during the time that elapsed. Clark County was calculated at 2% lower than what it was before, at a total of $808.6 million. The Strip’s profit reached an even bigger fall from grace, taking a massive 3.5% tumble of only up to $481.9 million. To add insult to injury, their primary competitors at Las Vegas managed to grow its revenue slightly up to 2.1%. This reaches up to a $61.8 million increase.
On a much lighter note, not all of the properties in Nevada has suffered a declining revenue. Mesquite has done good work this month in April, with its earnings going up to 4%. This reaches them with a $12.2 million increase. This is but one saving grace, unfortunately, as many other properties surrounding this casino have reported having an even more serious downturn. Both the north and the south side of Lake Tahoe have reached a crippling decline which risks the very foundations of the business. The south lake Tahoe saw a damaging 12,5% decline for its gaming revenue. Whereas North Lake, located on the opposite side, registered an even greater toll of 16.1%.
Why Is the Decline Happening?
Reasons for Nevada gaming decline are currently going under investigation, but the latest reports from other forms of gambling entertainment prove that the source of this recent turnout lies in sports betting. An overwhelming increase of up to 32.7% has been accomplished by the sport betting franchises.
In terms of table games, Baccarat has made a sweeping comeback in April, reaching sales of up to $66.8 million. This marks an incredible 2.5% increase over the course of years. Card games such as Poker, however, were dealt an unlucky hand this time. Its earnings have decreased by 5.8%. It did increase by 4% or $8.6 million slightly during the month. But this is to be expected as the 2019 World Series of Poker was being held during this time. Other casino games such as Roulette, Blackjack or Craps have seen a continuing drop of up to 23.5 %. Blackjack received the least of this attack with only 11.1%.
The 2018/2019 decline of Nevada’s revenue has continued for quite some time. People are wondering if this trend will continue as the years go by. North and South Lake Tahoe has marked this year-by-year decline of 1.58% for some time now, meaning that they are aware of this unfortunate incident. There may be some hope yet, as occupancy continue to keep steady at a 91% capacity. Nevada hopes this, as well as the slight increase in visitors, will help keep their establishments well and truly alive.