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