Gaming win up in Nevada

The gambling commission from Nevada reported that gaming win was up in the state by 11.6% when compared to the same period last year.

US.- Nevada is historically the most important state in the US when it comes to casinos and gambling. In June, the state reclaimed that spot as it registered an 11.6% year-on-year increase in gaming win, and ended the fiscal year on a good note.

The Nevada Gaming Control Board (NGCB) reported on Tuesday the latest report that details financial activity in the state. June ended a six-month losing streak on the Strip and posted an 11.6% increase to US$1.04 billion, a monthly record as well. Clark County posted a 14.6% increase to US$906.7 million and the Strip registered a 17.7% rise to US$616.6 million. Downtown Las Vegas posted the biggest percentage increase with an 18.6% rise to US$52.2 million in June.

Quarter-on-quarter results were not as good, as Nevada posted a 1% increase statewide for April, May and June. The second quarter of the year showed that the Nevada Strip’s gaming win trend increased only 0.7%.

The NGCB also reported the slot and table wins for the 2019 fiscal year ended June 30. Slot win was up 3.5% to US$7.8 billion, while table win experienced a setback of 3.9% to US$4.1 billion.

Gaming analyst Joseph Greff of New York-based J.P. Morgan said: “Our key takeaways from the report are that Las Vegas Strip win excluding baccarat increased 1.8% year over year, Strip slot handle increased 7.7% year over year with win increasing 10.2% year over year and Strip baccarat win increased 117% on a 20.3% increase in drop as well as high hold at 20.9%,” Greff said.

Sports betting’s performance

Michael Lawton, senior research analyst for the NGCB, said that despite New Jersey’s recent impressive results in the sports betting market, Nevada continues to be the leading state in the US.

“Sports pools in Nevada won US$16.6 million, down 18.1% on a hold of 5.15% vs. 7.05% last June,” Lawton said, according to Las Vegas Review-Journal. “Volumes were US$321.8 million, an all-time record for the month of June, which was an increase of US$34.5 million or 12%. Baseball and basketball wagering led the way with increases of US$19.8 million and US$18.7 million, respectively. I believe New Jersey recorded US$273.2 million in handle in June which is US$48.6 million less than Nevada or 17.8% for the same period.”

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