Depending on whether or you see the glass as half-full or half-empty, you will view 2014 as a great rebound year for Nevada and the Las Vegas Strip, or you’ll be quick to point to a slight decline in gaming revenue. The billion in statewide gaming revenue was a 1.1 percent decline from the .1 billion of 2013.
The Strip was hit a little harder, seeing gaming revenue decline 2.1 percent to $6.37 billion putting an end to four straight years of annual increases. Not surprising, baccarat contributed heavily to the dip. In December, revenue totals declined 39.3 percent to just $148.1 million. The amount wagered on baccarat was down as well, 14.5 percent to $1.3 billion. The hold of 10.99 percent was also down from the 15.4 percent of December 2013.
However, analysts and “glass as half-full” types will be quick to point out that gaming revenue doesn’t paint the entire picture, and only accounted for 36.7 percent of total revenue. In fact, non-gaming revenue was up a healthy 5 percent, as people continue to spend big on hotels, dining, and retail.
Fortunately, there is more to Nevada than the Las Vegas Strip, and several other areas grew quite a bit last year. Downtown Las Vegas casinos raked in $511.4 million in gaming revenue, a nice 2.1 boost from 2013. North Las Vegas casinos jumped 1.9 percent to $263.9 million as well.
One area which pleased operators is the booming sports wagering that took place in 2014. The $227 million in revenue was a massive 11.8 percent increase over 2013 and served as a record yearly high. Overall wagering increased 7.7 percent to $3.9 billion as well, on the year. Mobile sports wagering apps and in-game wagering are main factors pointed to for the record numbers.
