The August gross gaming revenue (GGR) numbers were released Friday, and showed that Las Vegas Strip casinos won more than $520.6 million last month – an 8.95 percent increase. That helped offset losses elsewhere in the state, as Nevada casinos collectively saw win climb only 4.3 percent to $952.4 million.
Strip casinos credited strong blackjack, craps, and roulette play for the gain. The table games reported healthy volume and hold percentages, respectively leading to year-over-year gains of 29 percent, 67 percent, and 43 percent. Blackjack GGR totaled $73 million, craps $67 million, and roulette $23.9 million. Baccarat win increased six percent to $97.5 million.
Additionally, the Strip continued to see strong slot play, with a 5.2 percent increase in volume and a 1.6 percent increase in win,” Nevada Gaming Control Board Senior Research Analyst Michael Lawton said. “The Strip has only recorded one decrease in slot volume and win this calendar year.”
August marked the Las Vegas Strip’s third consecutive GGR monthly win. That came after the most important casino street in the country recorded six months of gaming revenue declines. August also returned Strip GGR to the black for the calendar year at 0.1 percent. Statewide gaming win is up 0.7 percent. September 2019 presents a difficult comparable, as the month has only four Saturdays compared to five in 2018.
Expanding Tourism
There’s been concerns in recent months regarding a potential recession in the United States. If one is impending, Las Vegas hasn’t received the memo.
Along with a strong three months on casino floors, officials at McCarran International Airport said total passenger volume was up 3.1 percent last month. More than 4.4 million passengers traveled through the hub.
The good news doesn’t stop there. The Las Vegas Convention and Visitors Authority (LVCVA) said August visitor volume totaled 3.56 million last month, a 0.7 percent bump. Convention attendance was responsible for the uptick, with 657,800 visitors arriving for business purposes. The LVCVA says visitor volume is now up 0.6 percent through eight months.
Finally, the US Bureau of Labor Statistics says unemployment in the Las Vegas-Paradise metered market fell by 0.1 percent between June and July (4.8-4.7 percent). Statistics for August haven’t yet been published.