UPDATE 1-Nevada's August gambling revenue falls 8.1 percent

Thu Oct 9, 2008 1:26pm EDT
 
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LOS ANGELES, Oct 9 (Reuters) - Nevada casinos won $934.1 million from gamblers in August, an 8.1 percent decrease from a year earlier, the state's Gaming Control Board said on Thursday.

The take for casinos along the Las Vegas Strip -- the heart of Nevada's casino industry -- fell 7.4 percent to $494 million for the month.

Wall Street analysts said August results were helped by an additional weekend day and a greater share of the Labor Day weekend compared with August 2007.

"We expect the Strip could have a more difficult fourth quarter as (airline) flight capacity is reduced and consumer spending worsens," Morgan Stanley analyst Celeste Mellet Brown said in a research note.

Las Vegas Strip properties include casinos operated by MGM Mirage (MGM.N), Las Vegas Sands Corp (LVS.N), Wynn Resorts Ltd (WYNN.O) and Harrah's Entertainment Inc.

Other major gambling companies with casinos in Nevada include Boyd Gaming Corp (BYD.N) and Station Casinos Inc. (Reporting by Deena Beasley; Editing by Lisa Von Ahn)

 
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