Nevada casinos record best October ever ahead of Fountainebleau, Durango debuts (NYSE:MGM)
$6,000 Welcome Bonus
Casinos in Nevada saw a 2.7% year-over-year increase in gaming win during October to $1.32B, according to data compiled by the Nevada Gaming Control Board. The gaming win tally was slightly higher than the $1.27B gaming win total for September and was the best ever for the month of October. Slot machine gaming win was up 2.0% to $894M, while table and card game win rose 4.2% to $420.3M off a strong hold rate of 14.7% for the month. Gaming win was especially strong during the month for baccarat (+35% Y/Y) and Pai Gow (+97%). Football betting gaming win was up 45% to $48.3M.
Regionally, gaming win was up 1.2% for Las Vegas Strip properties to $714.5M. The Boulder Strip gaming win was 10.3% higher at $88.6M and Reno outperformed with a gaming win jump of 9.1% to $70.3M.
Looking ahead, analysts will be closely watching the casino revenue report for November due to the big F1 racing weekend in Las Vegas, while the December report will include the debut of Red Rock Resorts' (NASDAQ:RRR) new Durango Casino & Resort and the highly-anticipated Fontainebleau resort on the Las Vegas Strip.
Sector watch: Caesars Entertainment (NASDAQ:CZR) -0.2%, MGM Resorts (NYSE:MGM) +0.3%, Boyd Gaming (BYD) +0.9%, Wynn Resorts (WYNN) +0.4%, Las Vegas Sands (LVS) +1.8%, Full House Resorts (FLL) -0.6%, Bally's Corporation (BALY) -1.4%, and Red Rock Resorts (RRR) -0.1%.
