Table Games Drop: Measuring Casino Wagering Activity

Table games drop is a casino operating metric that measures money and credit instruments exchanged for chips at table games under the operator's stated methodology.

A useful relationship is:

1Table Games Win Percentage
2= Table Games Win ÷ Table Games Drop

Drop is the volume base in that calculation. It is not casino revenue and should not be read as the amount gamblers ultimately lost.

What goes into drop

Definitions vary by operator and jurisdiction.

Wynn Resorts describes Las Vegas table drop as cash deposited in the drop box plus issued markers, net of marker redemptions. Other operators use similar concepts but may differ in how they treat credit, promotional play, chip purchases, and specific game categories.

That means two reported drop figures can occupy the same analytical role without being perfectly standardized.

Drop is not total wagering turnover

A chip can be wagered more than once before a player cashes out or loses it. Table games drop therefore does not necessarily count every individual bet placed during a session.

That distinction matters when comparing table games with rolling-chip volume or slot handle. Rolling-chip and slot metrics can reflect repeated wagering turnover more directly, so the raw dollar figures are not interchangeable.

What drop can tell investors

Changes in table games drop can help separate volume from hold.

Suppose a casino reports:

1Quarter 1 drop: $1.0 billion
2Win percentage: 20%
3Implied table games win: about $200 million
4
5Quarter 2 drop: $1.1 billion
6Win percentage: 16%
7Implied table games win: about $176 million

Customer activity rose in this simplified example, but realized win fell because the hold rate moved lower.

That is why casino revenue should not be analyzed from volume alone.

Geography and customer mix matter

Table games economics can differ materially across Las Vegas, regional U.S. casinos, Macau, and Singapore. Baccarat-heavy properties can also show different volatility and customer behavior from casinos with a broader mass-market mix.

Before comparing drop, check:

• property and jurisdiction;
• game mix;
• mass-market versus premium play;
• cash versus credit treatment;
• promotional play treatment;
• acquisitions or property closures; and
• whether the operator changed its reporting definition.

Current filing examples

MGM Resorts reported $1.020 billion of table games drop at its Regional Operations for the second quarter of 2026, alongside $222 million of table games win and a 21.8% win percentage.

Wynn Resorts reported $638.2 million of Las Vegas Operations table drop for the same quarter. Wynn's filing separately reports mass-market and VIP measures at its Macau properties, illustrating why the denominator must be matched to the gaming segment being analyzed.

Sources:

• MGM Resorts Q2 2026 earnings release
• Wynn Resorts Q2 2026 Form 10-Q

Table games drop is best treated as a wagering-activity denominator. Pair it with table games win percentage to distinguish changes in customer volume from changes in realized hold.

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