Nevada Casinos See Significant Revenue Increase for 2019; Third Best Result in State History

Nevada casinos have just completed another successful year. The end of 2019 came with brilliant results for local casino providers as revenues crossed the level of $1b in earnings, one of the highest results recorded for the state.

Details

Nevada Gaming Control Board (NGCB) has recently released a report stating that local casinos made $1.057b gaming revenues in December, or a 5.8% increase compared to the same month last year. Casinos on the Las Vegas Strip had the best results with up 4.5% to $591.8m

According to the Final Year 2019 results, total revenues reached the level of $12.03b, which is the third-best result in state history. At the same time, Nevada continues with a fifth consecutive year in the winning style, making tremendous success in the casino market.

Looking back at information for the state’s revenue high-water mark, Nevada last reached such a milestone, having earned $12.8b in 2007, before the beginning of financial meltdown.

Single Games Revenues

If we take a look at particular games, slot machines pushed the December’s revenues which increased 10.1% to $700.1m. At the same time, slot yearly revenues rose 2.9% to $7.93b.

Table games income decreased 1.7% to $357.4m in the last month of the year, while full-year revenues dropped 2.5% to $4.1b.

Table games were down due to baccarat results which ended with the one-quarter year-on-year decline to $76.1m. At the same time, Baccarat’s full-year revenue decreased 13% to $1.05b together with the fall of betting volume for about 17%. It could be compared with Macau’s performance where marked baccarat declined to $25.6m.

Sports betting providers have also recorded a collapse in revenues, reaching $36.3m in December, which is a 17.6% drop from December 2018. Football caused the overall decline, decreasing nearly one-quarter to $23.7m and parlay cards sank 62% to $1.13m. As for basketball, it made positive figures by increasing 44.3% to $11.1m.

Despite small fluctuations, the sports betting industry made solid results by increasing 9.5% to a record of $329.1m on a win rate of 6.2%. Additionally, the annual betting handle increased up 6.1% to $5.3b, recording the 10th consecutive year of growth.

Comparisons

If we compare Nevada’s earnings with New Jersey casinos figures, we can see that the local gaming industry suppressed the Jersey results. The latter state sportsbooks providers reported a handle of just under $4.6b and revenue of $299.4m. As a reminder, New Jersey has just completed the first year of legal wagering which makes these results even more satisfying.

Comment: Nevada is experiencing staggering results in the casino sector. I believe in their gaming strategy and consider them the best!

SEO Title: Nevada Casino Gaming Revenues Reached the Third Best Result

Meta description: The state of Nevada is breaking the rules by marking the third-best revenue performance in its history, promising to keep up in the same style. Read on for more…

Source:

„Nevada’s 2019 casino gaming revenue third-highest on record“, Steven Stradbrooke, calvinayre.com, January 30, 2020.