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Nevada casino revenue declines to $743.0m in August


Nevada casino revenue declined 1.7% month-on-month and 21.9% year-on-year to $743.0m in August, as low margins and the novel coronavirus (Covid-19) combined to keep revenue low.

With casinos having been closed in late March and early June this year due to the virus, the revenue total was the lowest for a full calendar month since the state Gaming Control Board started publishing figures in December 2003.

However, this was partly due to lower win rates than July across both slots and table games, as players staked a total of $9.99bn, up 7.7% from the previous month.

Slots remained the largest source of revenue, as players staked $8.11bn and casinos made $525.4m, down 14.7% year-on-year, or 3.9% from July. 

Table games, meanwhile, saw revenue fall 35.6% from the prior year – though this represented a 3.3% improvement on July – as players staked $1.88bn.

Every form of table and slot game saw a decline in revenue from 2019 with the exception of mini-baccarat, where revenue grew by 69.6% to $4.8m and bingo, where it rose by 79.7% to $1.4m.

While states across the country including New Jersey, Colorado and Oregon set records for sports betting handle in August, Nevada sportsbooks saw $474.5m wagered, less than January or February, as well as less than New Jersey’s $667.9m. 

Sportsbooks in the stake took in $17.0m, down 9.3% from August 2019 but the highest revenue total since February.

With Major League Baseball the NBA and the NHL all in action in August, basketball and baseball were the two leading sources of sports bets with hockey following. 

Nevada sportsbooks handled $193.9m on basketball, taking in revenue of $7.6m, while on baseball, players bet $175.2m and sportsbooks took $9.0m. Players bet $52.4m on hockey, with casinos making $1.4m.

Sportsbooks paid out more than they took in on football bets in August, losing $3.4m. Parlay cards made up only $91,000 worth of bets and brought in just $41,000.

Casinos in Clark County, which includes Las Vegas, brought in $593.9m, down 25.1% of which $194.8m came from table games and $399.1m slots.

On the Las Vegas Strip, casinos made $317.3m, down 39.2% year-on-year,  as slot revenue fell 33.0% to $173.8m and table gaming revenue dropped by 45.3% to $143.5m.