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Vegas Gaming Slumps In November, Strip Continues To See Impact From Shooting

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Vegas Gaming Slumps In November, Strip Continues To See Impact From Shooting

The Nevada State gaming control board released its November report on gaming revenue for the Las Vegas area, which showed a negative trends casino shareholders may want to monitor.

What You Need To Know

Data for the month of October showed that Nevada's non-restricted gaming licensees reported a total "gaming win" of $988.7 million, a 0.2 percent year-over-year increase. The latest data for the month of November shows Nevada's non-restricted gaming licensees reported a total "gaming win" of $909.007 million. This represents a decrease of 2.3 percent from the same month a year ago but for the full fiscal gaming win has increased 2.58 percent.

The gaming report also noted the state of Nevada collected $49.437 million in percentage fees during the month of December 2017, which represents a decrease of 11.0 percent from the same month last year.

Why It's Important

November gaming wins at the Las Vegas Strip fell 6.04 percent from a year ago to $485.75 million, but remains by far and large the largest revenue generating region. The second largest region, the Downtown core, came in second and total gaming wins rose 6.82 percent from a year ago to $54.23 million.

It's important to note that gaming wins in the Strip also fell 6.0 percent in October, which implies the region continues to be impacted by the horrific shooting that occurred back on Oct. 1.

What's Next?

Investors will continue monitoring the monthly gaming report. Some of the casino operators that are located on the Strip include Las Vegas Sands Corp. (NYSE: LVS), Wynn Resorts, Limited (NASDAQ: WYNN), and MGM Resorts International (NYSE: MGM). On the other hand, Boyd Gaming Corporation (NYSE: BYD) operates three casinos in the downtown region.

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