Las Vegas was a slightly less-busy place in January. The Nevada Gaming Control Board released statistics for the state's crucial gambling industry for the month, revealing that casinos on the Las Vegas Strip saw total gaming revenue of just less than $500 million. This represented a decline of 1.4% on a year-over-year basis. The Strip is the core of Las Vegas, where most of the city's large casinos are located.
Las Vegas' home of Clark Country recorded a steeper decline, posting $777 million in revenue, for a 3.2% annual decline. For the entire state of Nevada, those figures were $884 million and 2.8%, respectively.
The numbers are discouraging, considering that January is a popular month due to New Year's Eve festivities and other special events.
In spite of the downbeat news, shares of gaming companies active in the state are generally holding up fairly well. Las Vegas Sands (NYSE:LVS), Caesars (NASDAQ:CZR), and Wynn Resorts (NASDAQ:WYNN) are up slightly in late afternoon trading. MGM Resorts International (NYSE:MGM), however, is trading down by 1%, to $27.55.