The Stat Pack
Did you know that Las Vegas Sands and Wynn Resorts are more Asian than American in terms of their revenue? And did you know that among the MGM properties, Bellagio produces more than four times the revenue of the Monte Carlo or New York New York? This is the kind of data we live for here at the Stat Pack, so without further ado here is a table showing from where Nevada’s major gaming companies pull their revenue:
Gross gaming revenues (GGR) for Macau for the month of July dropped fell 4.5% on an annual basis, the 26th consecutive month of decline. GGR for the first seven months of 2016 dropped 10.5% year over year. Most analysts attribute the decline to a crackdown on corruption in China along with tighter visa policies and a smoking ban on large gaming floors. Into the Macau gaming mix, as of August 23rd, will be added the new Wynn Palace:
Anyhow, here is our second did-you-know item, a comparison of MGM revenue by property, as well as a look at their out-of-state and China operations: Nevada gambling revenues in June increased 6.8% from the same year-ago period. Casino revenues on the Las Vegas Strip – which accounts for more than half of Nevada’s total revenue – were up 9.7% year over year in May. Reno also recorded a 4.5% rise in casino revenues.
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All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and Hightower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.
This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of Hightower Advisors, LLC, or any of its affiliates.