Busted — Nevada Posts Big Drop in October Gambling Revenue

Posted by C.C. Royal, December 11th, 2008

You knew the October numbers weren’t going to be pretty but I’m not sure anyone guessed that Nevada gaming revenue would be down – are you ready? – 22.3% as compared to a year ago. That is the single largest monthly drop in reported “win” in state history and the 10th straight month that gaming revenues have declined.

Here’s how the numbers released today by the Nevada Gaming Commission played out in the Silver State:

Nevada as a whole brought in $905 million for a 22.3% drop.

The Las Vegas Strip was hit hard with its $475 million take which represents a 25.8% drop compared to a record “win” in excess of $637 million in October of last year.

Worst numbers? The “Boulder Strip” which brought in $62.9 million and saw the biggest decline in the state with a 28.2% plunge.

Faring somewhat better was the Downtown Las Vegas area which saw its “win” decline 19.6% to a $48.4 million take.

Almost all areas of the state showed a marked decrease in October numbers. Here are some additional results from around the state:

Reno — $57.5 million, down 7.4 percent.
Laughlin — $45.7 million, down 14.9 percent.
Sparks — $12.9 million, down 10 percent.
Stateline — $20.9 million, down 23.8 percent.

Considering that economic experts are predicting a “long, slow recovery,” we can expect to see more sobering numbers coming from Nevada in the months ahead.