Gaming revenue on the Las Vegas Strip slid 3.48% year over year in November to $517.0 million, compared to $535.6 million a year ago.

Statewide gaming win in Nevada slid 1.47% to $930.4 million, according to the state's Gaming Control Board.

The decline on the Strip was partly driven by an 11.1% decline in table-game drop, which was offset by a 2.6% increase in slot handle, Deutsche Bank analyst Carlo Santarelli said in a note.

A lower hold percentage in both the slot and table-game segments also contributed to the decline, the analyst said. Adjusting for the lower hold, Santarelli estimated that gross gaming revenue would have declined 1.2% year over year.

Overall, Santarelli said the results were in line with his forecast of a 2.8% decline in revenue on the Strip.