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Las Vegas Gambling Revenues Drop 1.4% in January

By Eric Volkman - Feb 28, 2014 at 6:39PM

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Gaming take is lower on a year-over-year basis, although this doesn't seem to have affected the share prices of Las Vegas Sands, Caesars, and Wynn International.

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 (LVS -3.08%)Caesars (CZR), and Wynn Resorts (WYNN -1.23%)  are up slightly in late afternoon trading. MGM Resorts International (MGM -0.60%), however, is trading down by 1%, to $27.55.

Eric Volkman has no position in any stocks mentioned. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Wynn Resorts, Limited Stock Quote
Wynn Resorts, Limited
WYNN
$65.89 (-1.23%) $0.82
MGM Resorts International Stock Quote
MGM Resorts International
MGM
$34.50 (-0.60%) $0.21
Las Vegas Sands Stock Quote
Las Vegas Sands
LVS
$37.19 (-3.08%) $-1.18
Caesars Entertainment Corporation Stock Quote
Caesars Entertainment Corporation
CZR

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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