Vegas Strip Revenue Down 1.5% In April

With revenue in the world's largest gaming destination — Macau, China — still depressed, casino investors are looking to the state of Nevada for some much-needed revenue growth this year.

The state's Gaming Control Board has released its report on gaming revenue for the month of April. Here's a brief overview.

The Numbers

Nevada's non-restricted gaming licensees reported a total "gaming win" of $876,070,887 in April, a 3.0 percent year-over-year decrease.

The fiscal year has been solid for the state of Nevada so far. Total win from July 1, 2015, through the end of April is up 0.6 percent compared to the same period a year ago.

Related Link: Goldman Sachs Has Mixed Feelings About U.S. Gaming Stocks

Las Vegas Strip

More than $491 million (about 56 percent) of Nevada's total gaming win in April came from the Las Vegas Strip.

Shareholders of strip mega-resort operators Wynn Resorts, Limited WYNN, Las Vegas Sands Corp. LVS, MGM Resorts International MGM and Caesars Entertainment Corp CZR are watching Strip numbers closely.

Win numbers for the Vegas Strip were down 1.5 percent year-over-year in April following March’s 3.9 percent decline. The current fiscal year total for the Strip is now 0.2 percent below last fiscal year's running total.

Downtown Vegas

Historic Downtown Las Vegas, which has performed extremely well in recent months, delivered a disappointing 13.4 percent year-over-year revenue decline in April. Fiscal year numbers for Downtown Vegas remain 5.0 percent ahead of last year's numbers, the best growth of any region in the state.

Shares of Boyd Gaming Corporation BYD, which operates three downtown casinos, are up 35.1 percent in the past year.

Disclosure: The author holds no position in the stocks mentioned.