Vegas Gambling Drops for Third Month, Hurt by Swings in Baccarat
Gambling revenue on the Las Vegas Strip slumped 1.8% in September, the third straight monthly decline for the biggest US casino market and a sign of potentially tough quarterly comparisons for big companies like Caesars Entertainment Inc.
The decline to $727.7 million was related to a steep drop in baccarat play, the Nevada Gaming Control Board said Tuesday in an email. Betting on baccarat was down 22%. And the casinos were less lucky, with the amount they kept shrinking by 40%. The last time, outside of the Covid-19 pandemic, that revenue on the Strip fell for three straight months was May 2019.
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