The Nevada Gaming Control Board (NGCB) has released its latest revenue report revealing that the state’s casinos collected over $1.2 billion in revenue during the month of August.
The latest figures mark an increase of 3.5% on the same period in 2021 but a drop of 8.2% from July’s revenue figure of $1.32 billion. August was also the 18th month in a row that gaming revenues in the state topped the $1 billion mark.
Historically, Nevada gaming revenue have averaged a drop of 9% from July to August and the most recent drop of 8.2% was well under that historical trend.
For the year to date, Nevada gaming revenues are now 14% above 2021’s record annual revenue total of $13.4 billion with the state once again on track to record yet another record-shattering year.
Revenues on the Strip amounted to $659.7 million, up by 5.2% on August 2021. For the eight months of 2022, Strip casinos are now 25% ahead of the $7 billion set for the entire year of 2021.
Nevada Gaming Control Board Senior Economic Analyst Michael Lawton said:
“The event calendar continues to impress me along with no sign of a downturn in visitation in the near future. I do believe we may see year-over-year (monthly) decreases, but in terms of the level of gaming win we are witnessing, I feel it is sustainable, especially on the Las Vegas Strip.”
Clark County, reported more than $1 billion in gaming revenue in August. This was the 11th time in the last 18 months that the county has broken the $1 billion threshold.
Across the state, table game revenue increased by 6% year-on-year while baccarat revenue was up by almost 4%. Meanwhile slot machine revenue grew by 2.5%
Lawton said that expects much of the same for September’s figures.
“The event calendar for September is off the charts and I believe (that) will translate into another impressive month for gaming win.”
Sports betting up by 12% year-on-year
Sports betting revenue for the month of August came to $16.1 million. This was a 12% increase on August 2021 and only a slight drop on the $16.2 million reported in the previous month.
Throughout the month, Nevada sports betting operators accepted $408.7 million in wagers, a drop of 4.4% year-on-year. However, this is expected to grow during September following the NFL season kickoff.
Online sports betting accounted for 71.7% of total bets placed with Nevada sportsbooks in August. This was a significant increase in usage compared to the 65.2% reported in the previous month.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.
