The Nevada Gaming Control Board (NGCB) has released its latest monthly revenue report revealing that the state’s casinos reported combined revenues of $1.4 billion during the month of July.
July marks 29th billion-dollar month in a row
According to the report, combined revenues generated by Nevada casinos during the month mark an increase of 6.69% year-on-year and a 12.9% increase on the $1.24 billion reported during June. July is also the 29th month in a row that sportsbooks and casinos have generated more than a $1 billion in combined revenues.
Revenues on the Strip came to almost $834.9 million, up by 7.9% compared to the same period in 2022 and an increase of 14.8% on the $727.3 million reported during June. July’s revenues were an all-time record for the Las Vegas Strip topping the previous record of $792.6 million set in July 2021.
According to the report, the record-breaking figures were driven by the state’s second-highest table game revenue total for a single month at $513.1 million.
Washoe County casinos posted their highest revenue total since July 2005 as they combined to generate more than $100.6 million throughout the month.
Gaming revenues for the first seven months of 2023 is up 4.1% year-on-year putting the state on track to beat last year’s record revenue total of $14.8 billion for the calendar year.
Taxes collect during the reporting period came to $95.7 million marking an increase of 5.9% year-on-year.
Sports betting
Nevada sports betting operators reported $25.3 million in revenue during July, representing an increase of 55.7% compared to July 2022 and an impressive 166.3% over the previous month. This significant increase in revenues came despite overall wagers dropping from $479 million in June to just $408.2 million in July.
Bets placed through mobile apps and online sportsbooks accounted for 65.7% of all sports wagers during the month.
Wagering activity on sports is down by 7.7% for the first seven months of 2023 while revenues are down by 13.3% for the same period.
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.