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 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