Nevada Slots Decline Impacts Revenue in August
The Nevada Gaming Control Board has released its August gaming revenue report, revealing a drop in slot and overall gambling revenues.
LISTEN TO THIS ARTICLE:In the month, the state’s gambling revenue declined by 3.8% year-over-year to $1.16 billion. The figure also represents a 7.7% decrease compared to July’s revenue.
The primary factor contributing to August’s overall revenue decline was a slump in in-person slots revenue, which fell 3.8% to $798.3 million.
Various slot machine denominations, including one-cent, five-cent, 25-cent, one-dollar, and five-dollar slots, saw double-digit revenue drops in the month. However, multi-denomination slots, the largest contributor to Nevada’s gaming revenue, bucked the trend with a 15.7% increase to $555 million.
Mixed Results in Table Games
Revenue from table, counter, card games, sports, and racing pools collectively dropped 3.8% to $365.5 million. Blackjack emerged as the top revenue earner in this segment, with $105.9 million in revenue, up 6.9% from August last year.
Revenue from roulette soared 22.9% to $49 million, while three-card poker and Ultimate Texas Hold’em also saw gains. Other games in the segment experienced significant declines, like Baccarat with 34.3% to $76.3 million; Craps slipped 7.8% to $33.4 million. Keno and Pai Gow also saw a year-on-year fall in revenue.
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Sports Betting Revenue Rises
Mobile sports betting revenue amounted to $14.8 million. This marks a 13% increase compared to the same period in 2023.
Baseball was the most popular sport in August, earning the highest revenue of $9.7 million. American football also saw an increase to $8.7 million, while hockey and basketball betting incurred losses for sportsbooks.
Other sports betting brought in $7.6 million, while mobile wagering accounted for $14.8 million of the total revenue.
Finally, revenue from sports betting pools increased by 38.9% year-over-year to $25 million.
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