The latest revenue report from the Nevada Gaming Control Board has revealed that the state’s licensed gambling operators enjoyed the largest single-month revenue total as Nevada casinos reported $1.36 billion in revenue for the month of July. This beat the previous record of $1.23 billion set in May 2021.
Las Vegas Strip’s casinos also recorded their most profitable month in history with $793.7 million in revenue. This was 46.2% higher than the same period in July 2019 when casinos were fully operational. The previous record of $696.1 million was set in February 2013.
Washoe County Casinos set a new monthly record with July revenues of $100 million the highest figure collected in Northern Nevada since August 2002. Elko County also set a record with revenues of $34.2 million beating the county’s previous record set in March of 2021.
This was the fifth straight month that Nevada gaming revenue topped the $1 billion mark. The last time this happened was from December 2007 through April 2008.
The increase in revenue was largely thanks to the spike in tourist numbers with 3.3 million visitors hitting the strip during the month of July. According to the Las Vegas Convention and Visitors Authority’s most recent report, this is the highest single-month since the pandemic shut down tourism in March 2020.
Baccarat revenue came in at $160.1 million for the month, a jump of 107.3% on the same period in 2019. Wagering on the game increased by 26.3% to $809.9 million while the casinos’ hold percentage was 19.77% compared to 12.03% back in July of 2019.
Slot machines on the Strip took in $4.8 billion in wagers. This broke a 14-year record for the highest single-month of betting activity on slot machines. Revenue generated from slots amounted to $459.6 million marking a 6.4% increase on July 2019 for the largest single-month slots revenue total in history.
Sportsbooks in Nevada reported wagers of $409.9 million resulting in combined revenues of $33.3 million—both all-time monthly records. Sports betting activity increased by 35.5% on July 2019’s figures. Mobile sports betting accounted for 59% of July’s total sports wagers.
However, even with new records set all around, the Strip’s gaming revenues for the first seven months of the year are still down 3.47% compared to the first seven months of 2019.
Meanwhile the 2021 World Series of Poker festival kick-off data is approaching – and many Europeans who usually make the pilgrimage to ‘Vegas for the WSOP are currently unable to attend and participate due to international border closures due to COVID.
Under Nevada gambling laws online gambling involving sports betting, poker and Daily fantasy sports are legal in NV. Providers must hold a valid license to provide online gambling services in the state legally. Currently, online casinos and lottery are not allowed in Nevada.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
