While the decline in visitors to Las Vegas has been a consistent trend over the past year, gaming revenue is now falling significantly, too. The amount that Strip properties made from slot machines and table games dropped 11% year-on-year in January to $747.7m. This was the third consecutive monthly decline in gaming revenue, following a 6% drop in December and almost 1% in November.
table game win percentage dropped 25%
Statewide gaming revenue was down 7% and is only up less than 1% in the seven months since the start of the fiscal year. Digging into the numbers reveals that the Strip’s struggles were largely due to gamblers winning more, which impacted the bottom line. The casinos’ table game win percentage dropped 25% to 13%.
Visitor numbers continue to struggle, as traffic at Harry Reid International Airport dropped 8% year-on-year in January. International travel, in particular, saw a 19% decline, as Canadians continue to avoid Nevada. Air Canada traffic to Las Vegas fell 34% in January.
Local Democrats believe the drop in interest from Canadians is due to President Trump’s comments about annexing the neighboring country. Some Las Vegas casinos have introduced exclusive offers for visitors arriving from across the border. The Golden Gate, the D, and Circa Las Vegas are all offering special “at-par” deals for Canadian guests.
