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Big Dip in Strip Casino Revenue

LAS VEGAS-Gamblers lost $519.7 million on the Las Vegas Strip in November, 19% less than they did the same month one year earlier, the Nevada Gaming Control Board said on Friday.

By Brian K. Miller | Updated on January 13, 2008

LAS VEGAS-Casinos on the Las Vegas Strip won $519.7 million from gamblers in November, 19% less than they did the same month one year earlier, the Nevada Gaming Control Board said on Friday. Statewide, casino revenue fell 14% to $981.1 million, the largest year-over-year decline since January 2002, according to UBS Investment Research.

The declines were offset by a 20% increase in Strip gambling revenue in October and the fact that gambling revenue from November 2006 was 22% higher than November 2005. Casinos stocks fell on Friday, as did the Dow Jones Industrial Average.

Visitor statistics for November have not yet been released. In October, visitation was essentially unchanged from the previous October at 3.4 million. Year-to-date, visitation is up 0.8%, Strip gaming revenue is up 2.49% and statewide gaming revenue is up 1.43%.

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