Friday, August 28, 2015

July 2015 Revenue and Visitation Numbers

July 2015 Gaming Revenue and Visitor Statistics have been released.

Las Vegas visitation was up a strong 5.3% in July year over year. Citywide occupancy, average room rates, revenue per available room, and total room nights occupied were all up across the board. I'm impressed, even more so considering that it was a slow convention month with attendance down 9.4%

Perhaps the strongest increase was in air traffic, which increased 8.8% year over year in July.

Gaming revenue on the Strip was down 2.09%. High roller play was still a little soft with baccarat down 20.8% which isn't as bad as the previous month. Craps was also down 25.5 on the heels of Steve Wynn lowering odds to 2X at the beginning of the month. I doubt that move had much of an impact though.

Downtown table games were strong again while slots were also up a little bit - the combined total resulted in gaming revenue up 6.54%. The headline was strong craps revenue which was up 39.34%. It's pretty unlikely that some Wynn players moved downtown in protest, but you never know.

The strength in the Las Vegas locals market took a hit as the Boulder Strip was down 11% in July while North Las Vegas was down 9.4% year over year.

So, really strong visitation numbers for July. Really strong. Gaming was mixed with a slight decline on the Strip, but strong downtown. As much as I would like to say that people are migrating downtown for the better gaming odds, I don't know if that's really the case. Weakness in the overseas markets are probably as much to blame for the Strip numbers as anything.