LAS VEGAS-Las Vegas Strip gaming revenue dropped by 6.4% to$450.1 million in May compared with the take for May of last year,according to the latest monthly figures from the Nevada GamingControl Board. An analysis of the April figures by CB Richard Ellisgaming industry specialists Jacob Oberman and Brent Pirosch showsthat the figure is up 4.4% for the calendar year to date.Statewide, the take was down 4.73% to $847.1 million, according tothe Gaming Control Board figures.

The Gaming Control Board figures showed that revenue declined inClark, Washoe and Elko counties, as well as in the Downtown andLaughlin markets, while rising in the North Las Vegas and BoulderStrip markets, with Mesquite showing a 5.88% decrease to $9.88million.

Oberman and Pirosch note that the Nevada Gaming Control Board'sgaming revenue report for May "continued the trend of moderatesame-store revenue declines." As the CBRE analysts pointed out lastmonth, they expect the comparables for baccarat to get harder andharder as the year goes on. "And, as a result, luxury andnon-luxury properties will begin to perform in a more similarmanner on a year-over-year basis for the balance of the year," theysay in their monthly analysis.