Vegas Nights Takes You Straight to the Strip [...]
July Was a Good Month for Nevada Casinos
- September 1, 2016 By Nemanja L. -
Casino establishments in Nevada had a surprisingly strong July, mostly thanks to earnings made at Baccarat tables and in their Sportsbooks, it has been revealed.
Nevada Gaming Control Board released a report, showing that combined gaming revenue in the state rose 10% when compared to 2015 to $1 billion, with casinos on the Las Vegas Strip seeing a 17 percent increase, earning $613 million.
It appears that sports betting is quickly increasing in popularity among Nevada residents as Sportsbook earnings were up staggering 1,021% to $11.1 million.
While baseball revenue was up by more than 100% to $11.8 million, the other sports category rose whopping 239%. Basketball bets were also popular in July, but bettors were quite successful, cashing in a total of $3.2 million, whereas there were no major changes in Racebooks, which earned $4.2 million.
These are some very good results when we know that July tends to be the poorest month of the year for Sportsbooks. While the books only saw $1 million and $405,000 in revenue in July 2015 and 2014 respectively, a net loss of $548,000 was recorded back in 2013.
When it comes to individual game revenue, slots revenue remained virtually the same at $600 million, but Baccarat revenue rose 44% to $150 million and Blackjack spiked 40% to $114 million.
Roulette (+6.3%), Craps (+12.3%) and other games (+9.3%) also saw good results, as opposed to Bingo, Keno, Mini-Baccarat, Pai Gow Poker and Three Card Poker.
Back in February, Nevada Sportsbooks enjoyed strong Super Bowl 50 results, accepting over $130 million in wagers on the Denver Broncos vs Carolina Panthers match and turning a 10% profit.
The NBA play-offs and Euro 2016 finals were the two events that occupied the bettors’ attention in recent months, and the books are slowly getting ready for the new season.