October was a bad month for casinos across Las Vegas; they recorded a 9.25 decline in the gross gaming revenue (GGR). This was a weak-hold compared to a similar month in 2018.
In October 2018, Casino.org reported that Las Vegas Strip GGR was $538.5 million, and this year the same month, GGR has dropped by $55 million. The convention calendar has been blamed for the decline. The only positive thing in October is that the statewide GGR has exceeded $1 billion mark in the second straight month. The target has been lost six-times in 2019, except in February, March, July, September, and October.
The statewide GGR in October was $1.02 billion, which represents a 3.85 percent year over year decline. The Strip casinos’ revenue was also down by 5.5 percent in Laughlin and a 3.3 percent decline in the North of Vegas. However, Downtown Las Vegas posted a 7.2 percent rise in revenue. October was a bad follow up to September, which posted the best performance for the months.
The following games revenue plummeted in October 2019 in comparison to 2018;
- Blackjack dropped by $125.5 million
- Baccarat declined by $20 million
- Roulette dropped by 30 percent
- Table games went down by 5.8 percent
- Slots machines were, however, exceptional with 0.8 percent.
In the sports betting handle, Nevada slightly beat New Jersey revenue. NJ posted $46.39 million in sports betting, and Nevada sportsbooks won $47.88 million in October. Football was the main driver of sports betting revenue, followed by baseball.