Nevada hasn’t exactly been flourishing lately as a result of the Covid-19 restrictions imposed by Gov. Steve Sisolak.
Playing at online casinos was never an issue in the state of Nevada, and it is still perfectly legal for a Nevada resident to play online. A few years ago the state legalized online poker and set up an intrastate network for safe, but so far they have left out casinos and there is no gambling license for casinos online in Nevada. CARSON CITY, NV — Nevada casino revenue is down 45% year-over-year, bringing in $567 million in June. The Nevada Gaming Control Board says the 50% capacity limit is affecting revenue. Rate this story! Click on a star to rate it. News Reporter for Elko News Online.
Even though the situation looks pretty unfavorable, the casinos did report a slight increase from September to October. Still, the newest health & safety restrictions could put an end to this small increase and make November look pretty bad.
The figures that the Nevada Gaming Control Board (NGBC) released recently, show that the casinos reported collective gaming revenue of slightly below $822.7 million. Compared to the same month last year, there’s a 19.5% decrease, but we have to take into account that everything operated under normal circumstances in October 2019.
However, when October revenue is compared to the revenue casinos earned in September 2020, there’s a slight increase of about $1.6 million noticeable.
Casinos located on the Las Vegas Strip reported a 30.2% year-on-year decline in October, earning just $375.8 million, whereas Vegas Downtown venues’ revenue decreased by 22.7% y-o-y, earning $52.8 million.
However, outside of Las Vegas, things are looking a bit better, as the casinos in Lake Tahoe and Reno actually reported a pretty decent growth.
Casino Games Revenue
Slots in Nevada reported a decline of 19%, earning a total of $565.8 million, and other table & card games reported a 20.4% decrease, with a revenue of $256.8 million.
The only game that actually reported an increase in year-on-year is baccarat, which grew by 4.6%, earning a total of $59.3 million. Mini-baccarat also did pretty well, with a 5.2% increase to $7.2 million.
However, all other table games, except bingo, reported a huge decline. The game that had the biggest revenue decline was blackjack, which earned $60.2 million (-24.8%). Craps reported a decline of 13% with $27.6 million, and roulette joined the party with $18.5 million and a decline of 34.4%.
Sportsbooks also reported a decline. Betting revenue was down 11.5%, earning a total of $42.4 million, even though wagering handle increased more than 20% year-on-year to a total of $659.2 million. However, Nevada is behind New Jersey when it comes to sports betting, as the Garden State reported a handle of $803.1 million and revenue of $58.5 million.
Football betting revenue increased by almost 25% as sportsbooks earned $32.6 million, whereas baseball reported a decrease of 55%, earning just $5.2 million. Basketball even caused a net loss for the sportsbooks of about $189,000.
Hockey also reported a net loss of $1.1 million, and parlay wagers decreased by 14.4% to $3.9 million. Betting on other sports was also down 7.3%, with total earnings of $2 million.
Numbers aren’t that great, and Gov. Sisolak is tightening the restrictions. He decided to reduce the capacity of casinos to 25% until the middle of December as a response to a huge increase of Covid-19 cases.
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Published July 6, 2020 by Elana KNevada's combined sports betting and poker revenue increased 61% from April to May 2020, going from $3.6 million to $5.8 million.
May was a good month for Nevada sports betting and poker despite traditional casinos still closed due to COVID-19. The combined sports betting and poker revenue increased 61% from April to May 2020, going from $3.6 million to $5.8 million. Specific betting details, such as hold rate and handle, were redacted for the second month in a row to preserve the confidentiality of specific operators.
'Due to the extremely limited amount of reported gaming revenue for the month of May 2020 and statutory limitations regarding the confidentiality of financial records, several portions of the Monthly Revenue Report have been redacted,' said Michael Lawton, senior research analyst for the Nevada Gaming Control Board (NGCB). He also said that “The vast majority of the win amount was derived from mobile sports wagering and interactive poker,” adding that the increase in May was due to the addition of sports events, including NASCAR and UFC.
While Nevada did experience a month-on-month increase, it also experienced a year-on-year decrease of 99.4%.
Limited Mobile Betting
Oklahoma Casino Revenue
The May increase came as casinos were still on lockdown, and the biggest criticism leveled at the NGCB is the fact that mobile bettors need to first register in person before placing bets online. This prerequisite severely limited the number of people who could place bets on sports while the state was in lockdown. As people are still afraid to go out, removing this requirement would broaden the prospective audience for sports betting. Illinois, for example, temporarily lifted this requirement to allow people to place mobile bets without registering in person.
What Will July Look Like?
While casinos did open up in June, tourism is not what it used to be and the fear of COVID-19 still lingers. As of now, the NGCB has opened up over 100 cases of health safety violations, which include face coverings for employees, specific sanitization practices, and social distancing requirements. It’s unclear what will happen if more violations pile up, but it is reassuring that the NGCB is taking its inspections seriously.
See also
Nevada Preps-Up for Ashcroft Meeting
Nevada's November Sports Betting Handle Hits Record High
Nevada Legalizes Interstate Online Poker
888 Poker Among Game Platforms Approved by Nevada
Nevada Reports New Record for Super Bowl 50 Bets
