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Las Vegas Strip gaming revenue falls 5% YOY in February

Casinos on the Las Vegas Strip saw gaming win fall 5.0% on a year-over-year basis in February to $541.9 million.

Year-to-date through February, gaming revenues on the Strip were up 3.2%, at $4.4 billion. Statewide, February gaming revenues in Nevada were down 4.5% to $945.6 million. Year to date, statewide revenues were up 2.7%, at $7.68 billion.

Deutsche Bank analyst Carlo Santarelli noted that February faced an unfavorable calendar comparison, as February 2016 had 29 days and a 7.3% year-over-year increase in gross gaming revenue over the previous year.

Baccarat play on the Strip fell 15.9%, while revenue from the typically volatile game dropped 20.8%, Santarelli said. Table-game drop, including baccarat, fell 8.7%, but only fell 3.2% when adjusted for baccarat. Table-game revenue was up 5.4% excluding baccarat and down 5.1% including baccarat.

Slot play was up 1.9% on the Strip, but delivered a 4.9% decline in revenue.