Nevada casinos experienced a 3.3% increase in gaming win for the month of September, reaching a total of $1.31 billion statewide. This growth broke a two-month trend of year-over-year reductions in gaming revenue. Downtown Las Vegas casinos led the way with a 33.1% increase in gaming gain, while casinos on the Las Vegas Strip saw a 1.8% drop. Reno casinos also performed well, with a 12.4% increase in gaming gains.
Despite an overall win rate of 15.1% on bets, gaming win from table, counter, and card games dropped by 8.8% to $416 million. The decline was attributed to drops in baccarat gaming win by 37% and Pai Gow Poker by 31%. However, slot machines saw a 10.1% increase in gaming gain, totaling $896.9 million, supported by a hold percentage of 7.7%.
Investors are keeping a close eye on gaming companies such as Caesars Entertainment, MGM Resorts, Boyd Gaming, and Wynn Resorts in light of these results. The overall rise in slot performance helped offset the drop in table games, highlighting the resilience of the Nevada gaming market. This positive trend in gaming win for September suggests a rebound in the industry after a challenging period, offering hope for continued growth in the coming months. The original article was first published on GuruFocus.
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