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Nevada gaming market tops $1bn for sixth time in 2019


Nevada’s gaming market generated revenue of $1.02bn in October, and while this represented a 3.9% year-on-year decline, it marked the sixth time in 2019 that the monthly total surpassed $1bn. 

The largest single source of revenue was slot machines, which accounted for $699.1m of the total, an 0.8% improvement on the prior year, with table, counter and card games revenue (including race and sports betting) falling 12.6% to $322.8m.

However, sports betting handle once again surpassed that of New Jersey in October according to the figures from the Nevada Gaming Commission. Customers staked $543.5m on sports, which with a hold of 8.81%, generated revenue of $47.9m, a 61.7% year-on-year increase.

This was driven by a strong performance from betting on football, which saw player stakes increase to $355.7m. Revenue from football betting soared 131.6% to $26.2m, leaving it far ahead of the second largest source of revenue, baseball, which generated $11.5m.

Parlay cards, meanwhile, accounted for a further $4.5m in revenue, up 68.2% from October 2018.

As a result of some of the state’s highest-grossing table games declining in October, sports betting was the third largest source of revenue among the table, counter and card games segment for the month.

Blackjack, with revenue of $92.3m, remains the largest despite a 26.5% decline, followed by Baccarat with $56.7m, though it too saw revenue fall from the prior year, by 25.7%. Revenue from craps declined 0.17% to $31.7m, while roulette revenue dropped 30.3% to $28.2m. 

On the Las Vegas Strip, revenue was down 9.3% at $538.5m, with a marginal increase in slot revenue falling to offset table, counter and card games’ contribution falling to $233.6m. Slots’ contribution rose 1.6% to $304.9m for the month.