Nevada Gaming Revenue Hits $1 Billion for Sixth Consecutive Month

The latest revenue report from the Nevada Gaming Control Board has revealed that the state’s post-pandemic recovery continues as casinos posted revenues of over $1 billion for the sixth month in a row.

This latest streak of over $1 billion per month in revenues started in March of this year and is the longest streak in 14 years when Nevada casinos collected over $1 billion per month from November 2006 to May 2007.

Although gaming revenues continue to impress, August’s total was a 14% drop on July’s figure of $1.36 billion.

Casinos on the Strip posted revenues of nearly $625.7 million, a 21% drop on August’s figure of $793.7 million. Casinos in Downtown Las Vegas recorded $64.2 million in revenues seeing the area mostly frequented by locals jump 23.2% for the calendar year in comparison to 2019.

Senior Economic Analyst for the Gaming Control Board Michael Lawton credited the reintroduction of live events in Las Vegas for the impressive revenue figures posted in August.

Baccarat didn’t have quite the same impact on revenue figures as it did in July with wagers on the game totaling $610.7 million, down 7% compared to August 2019. This resulted in revenues of $93.1 million down 5.6% on the same period in 2019.

Nevada sportsbooks accepted more than $427 million in wagers during the month resulting in revenues of $14.3 million. Although these figures were considerably less than those posted in August 2020, this was because the 2020 NBA Finals were delayed to August of last year.

Even though the state enjoyed an overall uptick in gaming revenues, sportsbooks revenues were down by 23.4% on the same period in August 2019 as the sportsbooks won just 3.35% of all wagers throughout the month.

Ciaran McEneaney

Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.