Nevada had an especially favorable July thanks to serious spikes in baccarat and sports betting activity, giving a boost to casino revenue.
Figures released on Wednesday by the Nevada Gaming Control Board show statewide casino revenue rising 10% year-to-year just over $1b. The gains were even more stellar on the Las Vegas Strip, which shot up nearly 17% to $613m.
Of all the numbers, the most striking is the state’s sportsbooks. It reported an increase in revenue of 1,021% to $11.1m. The numbers were beaten by baseball, which more than doubled to a record of $11.8m. The ‘other’ category h has risen 239% to $2.3m, presumably due to end of the Euro 2016 football tournament.
The sports numbers would have been higher were it not for laggard basketball bettors who cashed in $3.2m worth of winning tickets. The state’s race books contributed $4.2m, essentially flat year-on-year.
July is typically the sportsbooks’ worst month of the year as seen by the $1m in total revenue last July. $405k was won in July 2014 . In July 2014, a net loss of $548k was recorded (which was when the punters still ruled).
Over on the gaming floor, slots revenue was flat at $600.5m. At the tables, baccarat revenue spiked 44% to $150.3m thanks to increased volume and a higher than usual win rate if 16.5%. Blackjack also had a phenomenal July, rising 40% to $114m.
The rest of the table games revenues are thus:
|Pai Gow Poker||-7.3%||$9.2m|
|Let It Ride||-29%||$2.1m|