Nevada Gambling Revenues Pop in July (MGM, LVS, WYNN, CZR)

Here are a few interesting numbers for the Nevada report:

• Total slot machine revenue represented about 59% of the state’s win at all the state’s casinos.
• Penny slots provide more than 5x the revenue of dollar machines at all casinos.
• On the Las Vegas Strip, table games revenues jumped 45%, while slot machine revenue was up 11%.
• Slot machines account for about 42% of revenues on the Strip.

MGM Resorts International (NYSE: MGM), Ceasars Entertainment Corp. (NASDAQ: CZR), Wynn Resorts Ltd. (NASDAQ: WYNN), and Las Vegas Sands Corp. (NYSE: LVS) have all posted gains in the past week, with MGM up nearly 11%. The story for the past year is far different, however, as only MGM has managed to put up a gain over the past 12 months. Ceasar’s is down 53% since its IPO in February and Wynn is down more than 30% over the last year.

The Gaming Control Board’s full report is available here.

Paul Ausick