Easy comp contributed to win
November was a good month for the gaming industry in Las Vegas. The win was up 22.6 percent to $529.4 million, putting the Strip ahead by 4 percent year-to-date to $5.8 billion. The flush month was due in part to Automotive Aftermarket Industry Week, a convention that brought some 140,000 attendees to town.
Union Gaming Research noted that the Strip numbers were higher than expected because of strength in baccarat and the sports books. An easy comp in blackjack also helped. As for slots, the handle was roughly flat and win was down 3.6 percent.
Statewide, the win was up 11.9 percent to $876 million. The losers were Downtown Las Vegas and the locals market; the former saw slight decline of 1.4 percent to $38 million, and the latter a more significant dip of 3.8 percent to $147.4 million.
According to Union’s Trend Tracker report, “The Downtown renaissance continues, but where is the gaming growth?”
“There is a disconnect Downtown between the revitalization (new restaurants, bars, and housing) that is taking shape and gaming growth,” the report noted. “The market is seeing an influx of a new younger demographic who come for the nightlife and may not necessarily gamble. The casino properties have a balancing act of appealing to this group, but not alienating its core customer base, which is comprised of generally older slot players.”
