Nevada gaming revenue in consecutive decline for November

Nevada casinos saw a 4.2% drop in November gaming revenue, marking the fifth consecutive month of declines, according to the Nevada Gaming Control Board (NGCB).
With a total $1.31 billion in gaming revenue for Nevada in November, the Las Vegas Strip revenue fell by 3.9%, totaling in $788.7 million and still ranking as the seventh-highest month of all time. Baccarat was a major factor, where revenue dropped by 18.3%. On the brighter side, without baccarat, strip gaming revenues were up by 0.1%.
Gaming revenues in some regions were much more adversely affected. For South Shore Lake Tahoe, a late-October fire and ski off-season resulted in revenues drop by 20.6% to $14.4 million. Similarly, the Boulder Strip saw revenues fell by 20.6% to $66.2 million. Laughlin‘s revenues dropped by 15.5% to $34.1 million, whereas Reno reported a fall of 10.5%, with revenues amounting to $51.9 million.
Not all markets had lower numbers: North Las Vegas went up by 6.05%, while Mesquite grew by 8.78%.
The gaming revenue statewide was estimated to be about 2.9% less than in the previous year, bringing the total gaming revenue down to $6.38 billion for the fiscal year. The Formula 1 Las Vegas Grand Prix in November did not debut as expected in revenue or attendance, with lower visitation and its reduced hotel rates.
Despite falling numbers for Nevada in November, gaming revenues in the state are still 40.4% above November 2019 levels. November also marked the 45th consecutive month of gaming revenue over the billion-dollar mark, as the state was able to capture $87.2 million in gaming taxes, 1.5% higher than last year.