July gaming revenue in Nevada reached $1.32bn, a 3.2% decline year-on-year, while sports betting revenue in the state plummeted amid a weaker sporting calendar.
The July 2021 revenue intake represented a record total at the time for the Silver State, meaning the slight decline is still close to record heights. The result is now the 17th straight month where the monthly total has been over $1bn in Nevada.
Clark County, where Las Vegas is located, made up $1.12bn of the total, a 3.3% decline year-on-year.
This compares with the previous month of June’s $1.28bn total – a 3.1% increase month-on-month.
Slots accounted for the majority of the revenue at $839.6m, though the vertical declined 3.9% from the previous year. Table, counter and card games declined 1.9% to $476.4m for the month.
The slot revenue results showed evidence of a continued trend of decline in specific denomination slots, as multi-denomination machines become ever more popular. $100 slot machines experienced the steepest decline in revenue, falling 56.8% to $2.14m.
Penny slots, which are the second largest group of machines after multi-denomination by both revenue and number of units, experienced an 18.1% fall in revenue to $293.9m. Multi-denominational increased 11.3% to $432m.
Table, counter and card games
In the table, counter and card category, twenty-one and baccarat made the highest revenue totals of all the games, making $124.3m and $138m respectively in July. This is a 1.8% yearly increase for twenty one – which tends to be more popular among domestic customers – and a 13.4% decline for baccarat, popular among international players, particularly from Asia.
Sports betting produced $16.2m in revenue against a $419.1m handle, representing a win rate of 3.8%. This is a 51.3% decline from the previous year. However, the Covid-affected season last year meant that many sports events were moved to July during 2021, including the NBA Finals.
The yearly revenue total has now reached $14.6bn – a 29.6% increase from the same seven month period in 2021.