The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s casinos reported combined revenues of $1.24 billion during the month of June.
According to the report, casinos’ combined revenues mark a decrease of 2.4% year-on-year and a 3.1% decrease on the $1.28 billion reported during May. This also marks the 28th month in a row that Nevada casinos and sports betting operators have generated more than a $1 billion in revenues.
Revenues on the Strip came to $727.3 million reflecting a 1% decrease compared to the same period in 2022 and an increase of 1.5% on the $715.9 million reported during the previous month. According to the report, this was driven by a 29% decrease in baccarat revenues. If baccarat revenue is not included, revenues for all other games increased by 5.7%.
Casinos in Clark County accounted for $1.07 billion in combined revenues, a 3.5% drop year-on-year and a minor decrease on the previous month’s total of $1.1 billion.
Taxes collect during the month came to $78.5 million reflecting an increase of 1.45% compared to June 2022.
Sports betting
Nevada sports betting operators reported $9.5 million in revenue during June, representing a significant decrease of 68.4% compared to the previous month and 60.1% decrease year-on-year. Sportsbooks accepted $479 million in wagers during the month marking a drop of 2.3% compared to June 2022.
Bets placed through mobile apps and online sportsbooks accounted for 67.4% of all sports wagers during the month.
For the first six months of 2023, revenues are up by 7% despite an 8% drop in overall wagers.
Fiscal year numbers
The control board also released figures for the fiscal year 2023 covering the last six months of 2022 and the first six months of 2023. According to the latest gambling statistics report, gambling operators generated $15.1 billion in revenue for the year. This marked a 3.2% increase on the 2022 fiscal year.
Gaming revenue in the first six months of 2023 was 3.6% higher than the same period in 2022 while revenues for the first half of the fiscal year was up by 2.9% year-on-year.
Casinos on the Las Vegas Strip collected $8.5 billion in fiscal year 2023, an increase of 4.8 %. Meanwhile, almost all other areas in the state reported revenue increases. The report also shows that the average annual revenue increase across the last ten years is 4.2%.
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.