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Takeaway: Recent data shows taxi trips are down, so we think gaming revenues could be flat or slightly down for August due to the correlation.

Gaming, Lodging and Leisure Sector Head Todd Jordan put out an interesting chart yesterday that shows the correlation between taxi trips on the Las Vegas Strip and table play. Looking at the chart below, you can see that as taxi trips increase, so does table play. The correlation between the year-over-year change in taxi trips and non-baccarat table drop is 0.68 over the past 5 years; strong enough to warrant our attention.

The most recent data shows taxi trips are down -1.7% sans McCarran Airport data. Assuming there’s no extraordinary circumstances, gaming revenues could be flat to slightly down with normal hold for August.

VEGAS: Taxi Tables  - taxitables