Caesars, MGM, Others Grapple With a Shrunken Nevada Gambling Win for October
The coronavirus pandemic continues to affect the casino industry and big names within it, including Caesars Entertainment (NASDAQ: CZR) and MGM Resorts International (NYSE: MGM), with conditions in Nevada, the USA's biggest gambling destination, being particularly important. The Nevada Gaming Control Board released its "Monthly Win" report today, showing a total state gambling win of $822.7 million, down 19.5% year over year, for the month of October.
Some counties actually registered October gambling win growth in 2020 compared to 2019. Foremost among these gainers was Washoe County, including North Lake Tahoe and the city of Reno. Gambling in this county rose 6.1% since last year. However, Clark County, home of Las Vegas, saw a 23.6% loss, and the Las Vegas Strip itself registered a 30.2% drop year over year.
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Source Fool.com
