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May casino gaming win figures down 99.4 percent from 2019

Updated June 30, 2020 - 2:19 pm

The timing of Tuesday’s release of Nevada gaming win wasn’t intended as a warning.

But it could be.

The state Gaming Control Board on Tuesday reported May casino win of $5.8 million, down 99.4 percent from May 2019. Casinos were closed in May, meaning that any revenue generated came from sports book apps that continued to operate.

In five state markets, including Laughlin, casinos took in less than they paid out. Some of the payouts resulted from sports bets placed months ago that casinos are only now reconciling.

For that reason, Clark County gaming win was higher than the state total overall, $5.9 million, down 99.3 percent from the previous year.

“The vast majority of the win amount was derived from mobile sports wagering and interactive poker,” said Michael Lawton, senior research analyst for the Control Board.

“For the calendar year, the state is down 45.2 percent and the Strip is down 44.8 percent. As far as May’s gaming win compared to April, it is my understanding that due to the addition of events to this month’s sports betting options (NASCAR and UFC) the month of May was a bit stronger.”

Analysts knew the May numbers would be grim since it was the second full month of the state’s 78-day casino closures that began May 18. They reopened June 4, so June figures should be a little brighter.

But the May numbers also provide a reminder of the return to financial turmoil if Gov. Steve Sisolak orders properties re-closed, an order he doesn’t want to issue.

As terrible as the May numbers were, they weren’t as bad as April’s. In April, state casinos won $3.6 million, down 99.6 percent, the lowest win total since records began being kept in 1983.

The two months of closures, the 14 days in May and the three days in June have made a mess of the 2019-20 fiscal year.

Statewide, gaming win is down 19.4 percent to $8.761 billion. Strip win is off 19.5 percent to $4.771 billion and downtown Las Vegas is down 17.2 percent to $508 million.

For the 11 months of tax collections based on percentage of win through Monday, the state has received $598.2 million, down 15.6 percent from the previous year.

Visitation numbers also unraveled in May, with most categories down by close to 100 percent.

Conventions, the backbone of the midweek visit, had no attendees for the month as the LVCVA awaits opportunities to resume meetings and shows when state health officials deem them safe.

While Strip and downtown resorts were closed at the time, there was still some occupancy with a small group of non-gaming hotel properties open for travelers.

Citywide occupancy fell 88 percentage points to 2.8 percent for the month and the average daily room rate was off 56.8 percent to $60.70 a night.

Average daily traffic counts on the major highways leading into Las Vegas were at 30.3 percent of normal at 86,884 vehicles. The Nevada Department of Transportation, which monitors highway traffic, notes that not all traffic on Interstate 15 and U.S. Highway 95 into Las Vegas are tourists and that residents are included in their statistics.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

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