Nevada gambling stopped a three-month losing streak while the Las Vegas Strip continues to struggle. Also, online poker in Nevada continued to slide in November but it appears that things are beginning to stabilize.
The Nevada Gaming Control Board released their figures for November gaming win. Overall, the state brought in $876 million, up .04 percent from the same period last year. Online poker continued its slide from the summer, pulling in just $641,000. This was a drop of 3.61% from last month and a 46.95% drop from the same period in 2013.
Statewide Gaming Posts Miniscule Gain But Strip Still Struggling
Despite miniscule gains for the state as a whole, the Las Vegas Strip continued to struggle in November, down 4% to $508.3 million. This is the fourth consecutive month of losses for the Strip.
The drop in revenue was blamed on a combination of dropping table game revenues and baccarat results that took a 1.1% hit during the month. Table games pulled in $278 million in November along the strip, down 8%.
While the Strip has struggled some in recent months, the yearly result is better than anticipated. After the first two months of the year, Strip revenues were down over 12%. It rebounded, and even after recent declines, Strip revenue is only down 0.5% from 2013.
Online Poker Revenues Down But Could be Worse
While online poker numbers for November dropped, the drop was not nearly as significant as past months. The industry only dropped $24,000 this past month despite the closure of Ultimate Poker. WSOP.com is the primary benefactor for those displaced players, but it appears Real Gaming has had a minor bump in traffic lately per PokerScout.com.
Unfortunately, we may not be able to keep track of revenues for Nevada for a while now that only two sites are open. The GCB has only provided monthly revenue reports when at least three sites were in operation. We will have to wait until the All-American Poker Network or another site launches before future tracking will be available.