Nevada August Revenue Down 4 Percent

Card game fortunes account for big chunk of lost revenue

Baccarat has been held responsible for the 4 percent Nevada gambling revenue fall in August.

The popular card game had a bumper month in August, but is known for its big swings and volatility opined analyst Michael Lawton.

Statewide casinos yielded $920 million in August (August 2013: $955 million) said the Nevada Gaming Control Board.

$24 million of the $35 million drop statewide was attributed to baccarat revenue. Excluding baccarat, the state revenue would have dropped 1.4 percent and the Strip's revenue 2.3 percent, Lawton said.

Key performance indicators include:

– Las Vegas Strip revenues down $553 million year-on-year

– Downtown revenues were up 4 percent to $35 million

– Reno gambling revenues of $53 million, down 2 percent

– South Lake Tahoe was up 33 percent year-on-year to $28 million

Nevada State collected $51 million in taxes, down 1 percent for August 2013.

Online Casino News Courtesy of Infopowa

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