My column in this week’s Las Vegas Business Press takes a deeper look at July’s Nevada gaming revenue numbers. The more I thought about them, the more I thought that a good month might not be such bad news:
On Sept. 12, the Nevada Gaming Control Board released its July gaming revenue report. In both May and June, large increases in baccarat win on the Strip powered the state to double-digit-percentage revenue increases. July didn’t have that kind of dramatic story, but that doesn’t make it a bad month for Nevada’s gaming industry. That July was a only a good month for Nevada gaming is, in fact, great news for its future.
via Las Vegas Business Press :: David G. Schwartz : July’s good numbers are great news for gaming.
It’s part of the bigger theme for the past few weeks, which, I’m finding, is “lowered expectations.”
The real test will be August–I’m very curious to see how the market turbulence of early August impacted gaming numbers here. Historically there’s not a very strong correlation between the market and gaming revenues, but I think that the bigger uncertainty might have kept a few dollars in pockets, so to speak. We’ll see in a few weeks.