Signs of stability are appearing in Las Vegas and statewide in Nevada. The Las Vegas Strip posted a stunning 32 percent gain in gaming revenue in June. Statewide, revenue rose by 16 percent.
All told, revenue for the month in Nevada was $885.7 million, $506.7 million of which was generated on the Strip. A fivefold increase in baccarat win explained the bulk of the revenue gains, but, even without baccarat, win would have risen 10 percent on the Strip and 4.5 percent statewide.
Slot handle was up 5.6 percent on the Strip for the month and about 2 percent statewide. The statewide slot handle increase was the largest since June of 2007. The slot play increase for the Strip was the fourth consecutive monthly increase this year, which is the first time that has happened since the first half of 2006.
For the fiscal year that ended June 30, statewide revenue was $10.6 billion, up 3 percent from 2010. The Strip ended the year up 4 percent at $9.1 billion.