Dateline: AUGUSTA, Georgia. The brunt of Hurricane Helene fell upon this city and disabled S&G HQ. As a consequence, we are without power through next Sunday and this is being written from the office of Mrs. S&G. Since our reactions to the federal, state and civic non-response to Helene are well-nigh unprintable, we shall skip to the heart of the matter …
Nevada casinos won “only” $1.1 billion in August, a 4% decline from the year previous. Las Vegas Strip pleasure palaces scored a mere $980 million, down 4.5%. When we saw the overall number, our suspicion fell upon baccarat. Sure enough, winnings plummeted 34% to $76 million, despite 12% stronger wagering. In other words, the house got its clock cleaned. Other table games were boffo, up 9% on 10% larger betting, while slots saw flat win even though coin-in was 8.5% higher, a rare loose month for the one-armed bandits.
Visitation to Sin City was actually up 2.5%, albeit 5% off the 2019 pace. Rooms were occupied at an 81% clip, The city had to absorb a small (1.5%) decline in conventioneers, depressing midweek occupancy to 77%. At least the subtraction of 150,679 rooms—thanks to closures of The Mirage and Tropicana Las Vegas—cushioned the blow and room rates actually climbed 5%.
Locals casinos experienced a washout at the tables, where 21% heavier wagering produced only a 1% uptick in win, while slots ingested 9% more coin-in but paid out generously, with casino taklings falling 8%. The latter number may not be as poor as it appears for locals casinos (nor for the Strip) as the last two, weekend days of August will have their slot winnings rolled over into September, as Silver State casinos don’t drop their hoppers until Monday for some arcane reason.
The crazy quilt of results encompassed Downtown, which fell 9% to $58 million, while the Boulder Strip plunged 22% to $65 million. North Las Vegas was flat at $23 million and the Durango Effect seemed to be wearing off miscellaneous Clark County, up but 1.5% to $144 million. Mesquite leapt 10% to $14.5 million and fellow Utah-escapee haven Wendover was up 2% to $22.5 million. Laughlin slipped 5% to $33 million and volatile Lake Tahoe was flat for a change at $26.5 million. Reno slid 5% to $65.5 million but seemingly over-it Sparks ignited 11% to $17 million.
There’s still not even a dead-cat bounce in Louisiana, where an 8% climb in year/year gambling receipts was deceptive. Pelican State casinos were actually 10% down from before the Covid-19 pandemic. Gambling halls collected $192.5 million from players and online sports betting added another $24.5 million. Caesars Entertainment continues to crash and burn in Lake Charles, where Horseshoe Lake Charles spiraled -22% to $5.5 million. Delta Downs, by contrast, soared 10% to $14 million. The monthly battle for supremacy went to narrowly to L’Auberge du Lac, jumping 10% to $26 million, just bettering Golden Nugget‘s $25.5 million and 4% tailoff.
The newer, bigger iteration of Treasure Chest continued to blow the doors off New Orleans, rocketing 82% to $12.5 million. Harrah’s New Orleans was undaunted, however, up 5% to $19 million. That left $8.5 million for Boomtown New Orleans (-4%), $3 million for Amelia Belle (+4.5%) and $3 million for Fair Grounds racino (-2%). In Baton Rouge, ancient Belle of Baton Rouge continued to bleed money, eking out 600 grand for a 53% bloodletting. By contrast, Queen Casino vaulted 77% to $6.5 million while L’Auberge Baton Rouge slid 10% to $13 million. Outlying Evangeline Downs, not to be forgotten, was up 3% to $6 million.
Which leaves us with Shreveport/Bossier City, the market that revenue sometimes forgot. Margaritaville was unceremoniously kicked out of its accustomed first place, with $14.5 million and -5%. Its primacy was usurped by former champion Horseshoe Bossier City, good for $15.5 million and a 50% explosion in dough. Sam’s Town also had a good month, up 10.5% to $3.5 million, whilst Bally’s Shreveport climbed 4% to $8 million. Louisiana Downs hopped 3.5% to $3 million and Boomtown Bossier was also 3.5% higher, for a $3.5 million tally.