Nevada gambling revenue drops 4 percent in August

Figures from the Nevada Gaming Control Board showed gambling revenues in the state fell almost 4 percent year-on-year in August.
The Nevada Gaming Control Board said casinos generated revenues of $920.2 million in August, down from $955.2 million in August 2013.
Revenue on the Las Vegas Strip fell 6.1 percent year-on-year to $533.2 million, while downtown revenue and north Las Vegas revenue climbed 4.3 percent year-on-year to $34.8 million and 6.9 percent to $17.9 million, respectively.
The gaming board said Nevada collected $50.7 million in taxes on August winnings, down 1.3 percent from August 2013.
August gaming revenues overall bring Q3 to-date down 1 percent year-on-year, and up 2 percent year to date, UBS said in a note. Revenues excluding baccarat were “flattish” in Q3 and YTD, which falls slightly short of the firm’s low single digit expectations for the market.