Nevada should release gaming revenues this week
With another easy comparison, we are projecting YoY growth of 6-10% for Strip gaming revenues in July. McCarran airport traffic increased 1.9% YoY, slightly below the year-to-date average, while taxi trips increased 2.4% in July. Both statistics have proven to be significant predictors of gaming revenue growth.
The comparison is easy as July 2013 experienced a 14% Yoy decline in GGR as baccarat volume dropped 16%. The wildcard, as always, will be baccarat volume and table hold percentage. For this analysis, we are using normal slot and table hold and baccarat volume growth of 20%.
July growth should be in line with investor expectations but we would caution that the August comparison is difficult, up 20% in 2013. August 2014 could show a meaningful decline in gaming revenues.
