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Weak baccarat drags Las Vegas Strip gaming win down in August

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Weak baccarat drags Las Vegas Strip gaming win down in August

Gamingrevenue on the Las Vegas Strip fell 14.8% on a year-over-year basis in Augustto $449.6 million, compared to $527.4 million a year earlier.

DeutscheBank analyst Carlo Santarelli attributed the significant decline to weakness inbaccarat, which saw revenue plunge 42.3% on an 18.3% decline in table drop anda 427 basis-point dip in hold.

Slotrevenue on the Strip slid 5.0% to $242.4 million on a 3.3% slide in handle anda 14 basis-point dip in hold.

Atough calendar comparison contributed to the year-over-year decline, Santarellisaid, noting that there were nine weekend days in August 2015, compared toeight in August 2016.

Statewide,gaming revenue in Nevada fell 5.2% to $861.0 million.

TheLas Vegas locals market was a bright spot, having generated gaming revenue of$187.8 million, a 13.0% gain from the prior-year period, Santarelli said.