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Nevada casinos post strong growth for November

Dec. 31, 2018 8:00 AM ETCaesars Entertainment, Inc. (CZR) StockLVS, MGM, WYNN, BYD, FLL, BJK, CZR, RRRBy: Clark Schultz, SA News Editor4 Comments
  • Casinos in Nevada reported that gaming win revenue increased 6.4% Y/Y in November to $967.2M.
  • Revenue on the Las Vegas Strip jumped 10% to $534M off a comparison impacted by the shooting last year at the Mandalay Bay. Downtown LV casino revenue rose 2.2% Y/Y to $55M. Boulder Strip revenue fell 12% Y/Y to $64M.
  • Total slots revenue rose 1.3% to $635M during the month off a win percentage of 6.9%.
  • Games and tables revenue was up 17.7% to $332M off a win percentage of 12.6%. Baccarat win was up 51% Y/Y.
  • Football gaming win was up 69% during the month at sports books.
  • Union Gaming analyst John DeCree calls the November numbers from the Strip even better than expected. "Baccarat bounced back over the past two months, up about 16% QTD in spite of unusually low hold in October. Sports betting win also bounced back, facing an easy comp to last November," he notes.
  • Nevada Gaming Control Board full report (.pdf)
  • Nevada-related casino stocks: CZR, MGM, BYD, WYNN, MGM, LVS, FLL, RRR.
  • Related ETF: BJK.

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