Nevada revenue grows as Covid-19 controls relax

In the wake of Nevada casinos’ capacity increasing to 80% in May, state gaming revenue grew 18.9% month-over-month.

Total gaming revenue for May came to $1.23bn, according to the latest figures from the Nevada Gaming Control Board.

As well as rising from the prior month, that figure also marks a vast improvement on May 2020’s $5.8m total, from a time when casinos were shuttered by the novel coronavirus (Covid-19) pandemic.

Clark County, which includes Las Vegas, made up the majority – some $1.05bn, up 21.6% – of Nevada’s revenue for the month. The Las Vegas Strip accounted for $655.5m, or 62.3%, of the total.

May 2021’s revenue came predominantly from slot machines, which accounted for $840.9m of the total, a 6.5% increase from April.

Table, counter and card games, meanwhile, saw revenue shoot up 59.1% from the prior month to $389.2m, benefitting from increased casino capacity and more spaces at gaming tables.

This growth was largely down to baccarat, which saw revenue grow f..

In the wake of Nevada casinos’ capacity increasing to 80% in May, state gaming revenue grew 18.9% month-over-month.

Total gaming revenue for May came to $1.23bn, according to the latest figures from the Nevada Gaming Control Board.

As well as rising from the prior month, that figure also marks a vast improvement on May 2020’s $5.8m total, from a time when casinos were shuttered by the novel coronavirus (Covid-19) pandemic.

Clark County, which includes Las Vegas, made up the majority – some $1.05bn, up 21.6% – of Nevada’s revenue for the month. The Las Vegas Strip accounted for $655.5m, or 62.3%, of the total.

May 2021’s revenue came predominantly from slot machines, which accounted for $840.9m of the total, a 6.5% increase from April.

Table, counter and card games, meanwhile, saw revenue shoot up 59.1% from the prior month to $389.2m, benefitting from increased casino capacity and more spaces at gaming tables.

This growth was largely down to baccarat, which saw revenue grow from $29.4m in April to $108.4m, while roulette revenue grew 41.1% to $99.0m.

Sports betting, included within that segment, saw revenue rise only marginally to $27.1m, however. Based on a win percentage of 5.67%, this suggests $477.6m in handle for the month.

Of that revenue total, $13.3m was generated via mobile devices, down 25.5% sequentially, and based on a 4.46% win percentage, stakes totalled $297.9m. Basketball, as in April, was the most lucrative sport in terms of revenue, but declined to $11.4m.

With all properties permitted to return to full capacity from 1 June – and a number of other operators including MGM Resorts, Caesars Entertainment and Wynn Resorts cleared to ease restrictions earlier in May – there is scope for further growth going forward.

Original Article

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