Sportsbooks in Nevada set revenue record
The return of the NFL season has helped the state overturn a two-month streak of revenue decline.
US.- According to the latest report released by the Nevada Gaming Control Board, statewide casino gaming revenue in the state rose 1.2% over the same month in 2017 to US$991.2 million. The results for last month’s operations were driven by the return of the National Football League (NFL) season.
While the 1.2% increase over the same period last year is modest, the results show that there was an approximately US$80 million raise over August 2018. However, Las Vegas Strip casinos reported a 3.7% year-on-year decline to US$546 million. “Look, it was US$991.2 million. We were US$8.8 million away from a billion,” said Michael Lawton, senior research analyst for the board, and added: “If we would have held a little better in baccarat, we would have hit a US$1 billion. So, it was a good month.”
The State collected US$5 million in percentage fees during the month of October, based upon the taxable revenues generated in September 2018. This represents a 7.62% decrease compared to the prior year’s October when percentage fee collections were US$58 million.
Nevada’s sportsbooks saw the return of the NFL season, which helped them increase the books’ total take to a record US$56.33 million, or a 26.7% increase from the same month in 2017. The previous record had been set in September 2012, when sportsbooks reported US$53.4 million.
