Land-based Nevada casinos keep seeing drop in revenue
While baseball betting hit a record high in June, Nevada’s overall gambling revenue was offset by lowest Baccarat betting in the state’s history.
A year ago, during the same month’s appraisal, revenues coming in were 8% higher than the reported $830.9 million of this year. By comparison, the month of May saw a revenue total of $1 billion, so the total for the year is quite starkly lower. Moving in the same direction, revenues from the Las Vegas strip are not any more positive, with a 16% drop for last year’s revenue calculations.
June also signified the end of the Nevada fiscal year and drops were recorded again at a 1.6%fall to %11.05 billion for the state and 4.3% to $6.3 billion for the City of Lights. With a 56% income decline from Baccarat wages, it is no wonder the state has witnessed such a dramatic deterioration in overall casino gains.
Roulette and Craps have also seen a sharp fall with a 22.1% decline to $25.5 million and 12.4% to $25.4 million, respectively. Blackjack offered the only breath of fresh air with a 3.8% gain to $81.4 million in revenue. Due to this increase the popular table game gained the title of top grossing table game for the month.
Three Card Poker only saw an increase of 0.4% with a total of $11.3 million, Mini-Baccarat had a good 29.4% increase and $8.7 million in revenue, Pai Gow Poker only managed a 2.7% increase, Keno a 7% increase, while Bingo dropped by 20.8%. Up 4.5% was Poker revenue coming from Nevada’s only two online poker sites. Poker saw an income of $15.8 million while slots were down by 1% with a grossing income of $556.1 million.
Overall, it seems than online sites are doing better than land-based casinos and this can be a worrying factor for the state of Nevada and other land-based casino earning cities. With the online gambling bill currently being slowly introduced across the US and some states already opting to regulate it, the future of gambling looks to be heading into cyberspace.