Published
Financial

Nevada misses the $1bn revenue mark, basketball to blame

Alth

nevada
ough it was yet another strong month for gaming in Nevada, basketball sports betting did not fare so well.

According to numbers released by the Nevada Gaming Control Board, the city saw a 3.5% increase in revenue for May over the same period a year prior.

Casinos state-wide won more than $991.6m from players in May, with table games making up $344.4m of the total sum and slot machines yielding $642m.

“It was a very positive month for Nevada gaming revenues,” commented Mike Lawton, Senior Analyst with the Nevada Gaming Control Board. “We are pleased.”

Slots revenue was up 7% to just over $647m, blackjack was up only 3.2% to $110.8m and baccarat revenue was up a solid 14.2% to $100.9m

Lawton explained that the revenue growth was not due to any particular area in the state, apart from those in the north shore of Lake Tahoe. Casinos in this area have taken a record-breaking $10.6m from gamblers since the start of the fiscal year in July through May.

For the most part, the results offered positive indications to the state of gambling in Nevada, however, sportsbooks had a less-than-stellar month. The states’ sportsbook operators won only $3m of the $312.2m that was wagered.

Lawton explained that this monumental loss was due to the basketball results, where $4.4m was paid back to the players. Reportedly, May’s results mark the largest monthly basketball loss ever, overtaking April’s 1997 $3.5m.
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...