Falling baccarat wins in November 2016 push Las Vegas numbers into year-on-year decrease.
[dropcap]Y[/dropcap]ear-on-year casino win entered the negatives on the Las Vegas strip in November, according to a report released by The Nevada Gaming Control Board.
The Strip reaped a total gaming win of nearly $517 million, down 3.5 percent from November 2015’s take. While the Strip saw the biggest downturn, Nevada saw a 1.5 percent decrease over the period, to just over $930m. Clark County, which contains Las Vegas, reported a 2 percent slump to $811m.
While November has been a poor month for gambling win, the fiscal year, starting from July, has been a good one. It currently stands at 3.8 percent higher for the Strip, and up 3.6 percent for both Clark County and Nevada as a whole. In October gambling win on the Strip was up a massive 14 percent from the same month last year, bringing in $562m for Vegas’s most prestigious casinos.
Looking closer at the report, it is baccarat win that disappointed in November, the game decreasing by 23.2 percent year-on-year. According to Buckingham Research Group Inc.’s Christopher Jones, the decline of baccarat win was due in part to a 116 basis points negative swing in hold rate to 13.65 percent, with volume of the game decreasing by just over 16 percent. Given the month also had one less weekend day compared to 2015, the marketplace was expecting some sensation of shunting – sportsbook win’s decline probably reinforced this view.
Taking away the baccarat loss, the table game and slots revenue is actually up 1.6 percent year-on-year.