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Nevada sees gaming market recovery continue in July


Nevada gaming revenue grew 33.5% month-over-month to $756.8m in July, as the state’s recovery from its novel coronavirus (Covid-19) shut-down continued, with the sports betting vertical rebounding from June’s loss. 

However, July’s total still represented a 26.1% decline from the prior year, at a time when social distancing requirements are in place, and rising Covid-19 cases have prompted new restrictions in some state counties.

The $756.8m total included a $210.4m contribution from table, counter and card games, down 35.9% year-on-year, but featuring a much-improved performance from sports betting.

After June saw the vertical post its first monthly loss in almost seven years, revenue rebounded in July, reaching $6.3m. However, this again represented a decline on the prior year’s revenue of $10.5m.

Based on a win percentage of 3.85%, amounts wagered in the state came to $163.5m – more than double June’s $77.9m total – of which $112.9m was staked via mobile devices. Baseball, in a month where Major League Baseball began its regular season, was the most popular US sport, accounting for $65.4m of stakes and $4.4m of revenue.

However, other sports represented by properties outside the US major leagues continued to account for the majority of spending and yield, contributing $80.3m in stakes, and $5.5m of revenue.

Revenue from betting on horse racing contributed a further $3.1m, up marginally from July 2019.

In the table, counter and card games segment, baccarat was the biggest contributor to revenue in July, making up $59.6m of the segment’s monthly total, down 22.7% year-on-year, but up 25.5% from June.

This meant that blackjack, the biggest revenue generator in June 2020 and July 2019, fell into second place, on revenue of $53.9m.

As ever, slots were the main source of gaming revenue for Nevada, accounting for $546.4m of state-wide revenue in July. This represented a 38.6% improvement in comparison with June, but a 21.5% decline from July 2019.

The Las Vegas Strip’s gaming revenue for the month, meanwhile, came to $330.1m, representing 43.6% of the state-wide total. The wider Clark County area, which includes Las Vegas, accounted for $612.9m of July’s revenue.