Nevada Casinos’ September Revenue Best Since February

Casino revenue in Nevada grew 10.5% from August. It still remains 22.4% down, on yearly basis, because low margins did not improve the overall state of gambling following the new shut-down.

The September revenue totaled $821.1 million from total stakes of $10.32 billion, which is a 3.3% up on a monthly basis. This is the best monthly revenue since February, which was the last month of full activity before the shutdown closed down the US gambling market.

Figures Break-Down

Slots have, in total, contributed with $607.5 million in revenue, which is down 12% year-on-year, but up 15.6% from August and $8.37 billion in players’ stakes.

Nevada’s casinos’ table games generated another $213.6 million in revenue from $1.95 billion in stakes. The total was down 41.2% from September 2019 and 1.8% compared to August although stakes declined 17.9% from the previous year.

This decline was driven by baccarat’s low margin and, although players staked $487 million more than on any other table game, casinos only took $14.2m.

Blackjack had strong monthly margins. It brought $64.6 million in revenue from $417.3 million in stakes.

The next largest revenue maker was craps. Players bet $161.9 million with casinos and won $32.8 million. Roulette brought $22.5 million in revenue.

What About Sports Betting?

$32.9m in sports betting revenue declined 36.8% from September 2019’s numbers and came from $575.1m in bets – up 5.3% year-on-year as margins were much lower.

These numbers were beneath New Jersey’s September revenue and handle of $45.1m and $748.6m respectively.

$11m of betting revenue came from mobile, on $315.5m worth of bets, a record for the channel since the state Gaming Control Board began recording this data at the start of 2020.

The channel’s revenue was second only to January’s total. Football was the most popular sport for betting, bringing in $10.7m revenue on bets of $221.9m. With all four major leagues playing during the month, betting activity was much more diversified than usual.

Baseball followed close behind in revenue with $10.2m on $147.3m worth of bets, while players staked $114.8m on basketball, with sportsbooks winning $3.7m. Hockey saw handle of $25.0m and revenue of $5.1m, while $60.4m was staked on other sports, generating revenue of $1.1m. Parlay Cards brought in revenue of $2.1m, from stakes of $5.8m.

Of the state’s total gambling revenue, which was $666.7m, a decline of 16.5% year-on-year, came from Clark County, which includes Las Vegas.

The Las Vegas Strip continued to be hit particularly hard by the effects of the pandemic, as casinos on the Strip took in $354.7m, down 39.1%, as table game winnings were less than half of those in 2019 thanks in part to a 2.7% margin on baccarat.

Source:

“Nevada casinos enjoy strongest month since February”, igamingbusiness.com, October 28th, 2020.

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