With revenue in the world's largest gaming destination -- Macau, China -- continuing to decline, casino investors have been looking to the state of Nevada for some much-needed good news this year.
The state's Gaming Control Board has released its report on gaming revenue for the month of January. Here's a brief overview.
The Numbers
Nevada's non-restricted gaming licensees reported a total "gaming win" of $925,316,080 in January, a 2.8 percent year-over-year decrease.
The first seven months of the fiscal year has been solid for the state of Nevada. Total win from July 1, 2015, through the end of January is up 0.5 percent from the same period a year ago.
Las Vegas Strip
More than $530 million (about 57 percent) of Nevada's total gaming win in January came from the Las Vegas Strip.
Shareholders of strip mega-resort operators Wynn Resorts, Limited (NASDAQ: WYNN), Las Vegas Sands Corp. (NYSE: LVS), MGM Resorts International (NYSE: MGM) and Caesars Entertainment Corp (NASDAQ: CZR) are watching Strip numbers closely.
Related Link: Macau Tourist Spending Fell 17% Last Year
Win numbers for the Vegas Strip were down 7.7 percent year-over-year, a large drop-off compared to December’s 8.2 percent increase. The current fiscal year total for the Strip is 0.6 percent below last fiscal year's running total.
Downtown Vegas
Historic Downtown Las Vegas, which has performed relatively well in recent months, kept its winning streak alive by delivering a 8.8 percent year-over-year revenue gain in January. Fiscal year numbers for Downtown Vegas are now 8 percent ahead of last year's numbers, the best numbers of any region in the state.
Shares of Boyd Gaming Corporation (NYSE: BYD), which operates three downtown casinos, are up 25.6 percent in the past year.
Disclosure: The author owns shares of Wynn Resorts.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
