Nevada Gaming Revenues Slump in January
Gaming revenues in January fell 12.4 percent statewide and 18.7 percent on the Strip based on a challenging comparison to figures produced by Nevada’s resort industry a year ago.
The Gaming Control Board said Friday that Nevada casinos collected $909.2 million from customers during January, down from $1.038 billion a year ago. On the Strip, casinos won $507 million, compared with $623.5 in the same month of 2012.
January 2012 was the state’s first billion dollar gaming revenue month since September 2008 – a 40-month drought – fueled by the lucrative Chinese New Year holiday celebration.
This year, Chinese New Year, and the high-end baccarat play associated with the event, fell into February.
Because Chinese New Year moves around the calendar, gaming analysts said the combined two-month figures provide a better reading.