Gaming and visitation were relatively soft in Southern Nevada in November, but the region was still on track for record tourism as 2016 drew to a close.
Statewide gaming win was down 1.5 percent year on year mainly on weak baccarat results on the Las Vegas Strip, where the volume of play from the favored game of Asian high rollers was down 16.6 percent and the house held 1.1 percent less than it did in November 2015. The result was a 23.2 percent decline in revenue. Table games as a whole also felt the impact. Win across the sector was down 4.2 percent. Strip slot revenue was down 2.7 percent. Total Strip win was down 3.5 percent to $517 million.
“November 2016 also had one fewer weekend day (Sunday) compared with the prior year, and sportsbook win declined sharply as football fans defied odds in the month,” said Union Gaming Securities analyst John DeCree.
Carlo Santarelli and Danny Valoy of Deutsche Bank Securities noted that “Excluding baccarat, domestic table game and slot revenue was up 1.6 percent year on year. Lower hold hampered results in both the slot and table segments.”
Win for all of Clark County, which includes the outlying towns of Mesquite, Primm and Laughlin, was down 2 percent to $811.1 million. Statewide gaming win was off 1.5 percent to $930.4 million.
A 7 percent decline in Las Vegas convention attendance contributed to relatively weak visitation growth of 1.5 percent in November, but visitation through the first 11 months is up 1.5 percent to 39.7 million, and if December holds true to form?the city has averaged 3.6 million visitors a month?2016 should easily surpass the record of 42.3 million visitors set in 2015.
More than 3.8 million people arrived and departed through Las Vegas’ McCarran International Airport in the month, up 3.4 percent over last November. More than 43.7 million passengers have passed through the airport through the first 11 months, 2 million more than last year.
