CHART DU JOUR: DATA SUGGESTING A WEAK OCTOBER ON THE STRIP

Takeaway: Another negative datapoint for MGM

  • Assuming normal slot and table hold, we believe October Strip gaming revenue should fall between -5% to -9% YoY. An unfavorable calendar—one less Saturday and Sunday—likely contributed to the decline.  Baccarat, as usual, will be the wild card.
  • McCarran airport passengers fell 1.5% while NV taxi trips fell 3.6% in August— the 4th consecutive month of declines.
  • After a respite in September, we believe, slot volume, the most important Strip metric in our opinion, will resume its downward trend in October.  

CHART DU JOUR: DATA SUGGESTING A WEAK OCTOBER ON THE STRIP  - STRIP