Nevada total gambling revenue down 1% in July
According to data released by Nevada Gaming Control Board, Nevada’s total gambling revenue dropped in July 1.7% year-on-year basis.
The regulatory body has announced that casinos posted $998m in revenues, down from the $1bn threshold generated in July last year.
With these figures, Nevada puts an end to a four-month streak of revenue increases. In particular, in Las Vegas where revenues shrink 7%, totalling $565m in July this year.
Nevada Gaming Control Board analyst Michael Lawton said that this year July had a fewer week which made it a really difficult comparison.
“The state was up 10.1% last July, and the Strip was up 16.8%. So for us to come in very close to $1bn and only being down 1.7%, I don’t think we can be too disappointed about those results.
“We have a lot to look forward to in the next couple of months.”
This decline is also attributed to a drop in baccarat winnings. It was down 19%, compared to the July last year.
“Baccarat had a good month, but it was nowhere near as good as last July,” Lawton added.
The state benefited with more than $69m in percentage fees based on the taxable revenues generated in July, which it signifies 1% increase over the year.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
