Nevada gaming revenue continues $1bn+ streak
Nevada has reported $1.27bn in gaming revenue for June, making it the 16th month in a row that the state has surpassed $1bn in revenue.
US.- Nevada casinos saw their 16th month in a row with over $1bn in gaming revenue in June. According to the Nevada Gaming Control Board (NGCB), casinos collected $1.27bn in gaming revenue, up by nearly 8.1 per cent year-on-year. For the fiscal year ended June 30, gaming win was up 37.3 per cent.
June’s Strip gaming revenue of almost $734.8m was up 22.7 per cent year-on-year and 19.2 per cent higher than June 2019, pre-pandemic. However, some June declines were experienced in Clark County, Downtown gaming revenue fell 11 per cent, North Las Vegas decreased 8 per cent, Laughlin fell 14.6 per cent, Boulder Strip fell 11.8 per cent and Mesquite was flat.
Washoe County, which includes casinos in Reno, Sparks, and North Lake Tahoe, saw revenue rise 20.1 per cent year-on-year. South Lake Tahoe revenues fell 28.7 per cent.
Control Board Senior Economic Analyst Michael Lawton said: “The majority of the submarkets in Clark County, in addition to several submarkets outside of Clark County, continue to face difficult year-over-year comparisons,”
For the first six months of 2022, gaming revenue statewide is up 19.8 per cent compared with the $13.4bn reported in 2021.
As for sports betting, Nevada’s sportsbooks saw their first decrease in wagering handle in nine months. Sports bets totalled $490.3m, a decline of 10.1 per cent from a year ago. Sports wagers made with mobile apps totalled $329.7m in June, representing more than 67 per cent of the overall handle.
Sportsbooks reported revenue of $23.8m, a decline of 18.3 per cent compared with a year ago.
NGCB also revealed figures for the fiscal year ended June 30. Statewide gaming revenue reached $14.6bn, 37.3 per cent higher than the $10.6bn in fiscal year 2021. It broke the 2007 fiscal year record of $12.7bn. The first half of the year accounted for $7.37bn and the second half nearly $7.25bn.
