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DECEIVING LOOKS PART TWO

Some are excited about a return to growth in August.  Time for a look under the hood.

  • US gaming revenues (from reporting jurisdictions) increased 5% YoY in August.  Even same-store revenues were positive, up 3%.
  • However, August received a 2% boost from a very high hold % in Strip Baccarat.  Subtracting out Strip revenues (to look at regional type markets), same-store revenue was actually flat in August.
  • Moreover, August contained one extra Saturday which likely contributed 2-3% to YoY growth
  • The takeaway is that August was actually another weak month overall in US gaming

DECEIVING LOOKS PART TWO - D4