Despite recent economic challenges, gambling revenue in Nevada keeps growing.
Gambling Revenue in Nevada Increased by 14,3%
Revenue figures for sports betting, slots, table, counter and card games are reported under the same category. The slots’ revenue for August was reduced to $829.2 million, 2.1% lower than last year. Penny slot games generated a betting revenue of $256.9 million, while multi-denomination slots posted $479.3 million.
On the other hand, card and counter games posted a revenue of $380.1 million. The figure marked a 5.2% increase in revenue compared to August 2022 to post. Baccarat posted $ 116.2 million this year. The same game posted a betting revenue of $96.7 million in August last year. The 21.0% increase in revenue elevates Baccarat’s status as the lead revenue generator among the card and counter games.
Blackjack followed as the second-highest source of revenue, posting $99.1 million. The amount marked a slight decline in revenue compared to the previous year’s figure of $100.0 million. Roulette revenue rose to $39.9 million an increase of 20.5%. On the hand, craps posted a 7.4% decline in revenue to close at $36.2 million.
Sports betting revenue increased by 12.4% to reach $18.1m. The amount includes figures for baseball, basketball and football betting. Baseball and football betting contributed a revenue of $9.6 million and $5.1 million respectively.
Unfortunately, there were notable losses in sports bettings for games such as basketball, parlay cards and hockey. Basketball betting posted the highest loss of $694,000, followed by hockey at $474,000. Parlay cards closed the list with a loss of $18,000. Other sports posted a revenue of $4.7 million.
Las Vegas Strip Betting Revenue Leads at $666.8m in August
Las Vegas Strip, the epicentre of Nevada gambling, contributed almost half of gambling revenue in the state. The strip posted a betting revenue of $666.8 million in August 2023, which is 1.1% higher than the previous year.
The slot machines along the stretch posted a total revenue of $368.3 million. The multi-dimensional slots topped the list with a betting revenue of $205.7 million, followed by the Penny slots at $107.9 million.
The other category of table, card and counter games closed the period at $298.4 million. Baccarat was the biggest contributor, posting a revenue of $114.3 million. Sports betting generated $7.8 million in revenue.