Nevada Casinos Report Fifth Consecutive Month of Gains in June

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Friday, August 3rd, 2018 | Written by Charles Washington

Nevada’s casino market generated gross gambling revenue (GGR) of $933 million in June, marking a 4.2% year-on-year gain, and extending five consecutive months of growth for the industry. From that tally, slot machines saw their revenue decline by 1.2% to just $593.1 million, while table games helped lift the numbers after reporting a 15% surge in revenue to $339.8 million.

Individual Markets

The Las Vegas Strip traditionally accounts for more than half the gambling revenues produced in the state, and June was no exception with the $524 million collected representing a 5% increase compared to June 2017. Reno, also known as “The Biggest Little City in the World”, returned the highest growth after its revenue soared by 20% to $59.4 million in June. Downtown Las Vegas, on the other hand, went in the other direction with its $44 million in revenue lower by 4.4% year-on year.

Clark County as a whole, which covers almost three-quarters of the state’s residents, including Las Vegas and other major cities such as North Las Vegas, was up by 3.5% to $791 million for the month.

Poker Revenue Second Highest

The 2018 World Series of Poker took place throughout May and June at the Rio All-Suite Hotel and Casino, and broke multiple records this year, including the most number of entrants (123,865), largest overall prize pool ($266,889,193), and most individual cashes (18,105). The flagship $10k Main Event also proved to be the second largest in the competition’s five decade long history with its 7,874 entries beaten only by the 2006 Main Event (8,773 players). Day 1C alone attracted 4,571 players, which was the largest single starting flight ever recorded for the Main Event.

Likewise, Nevada’s cash game poker market returned impressive growth in June, generating $17.48 million in revenue, or 4.8% more than the same month in 2017. It almost succeeded in soaring to new heights, too, with its total revenue second only to the all-time record set in June 2007 of $17.66 million, according to data collected by the Center for Gaming Research at UNLV. That’s despite Nevada currently boasting 60 poker rooms offering a combined 683 tables, compared to June 2007 when the state had 104 poker rooms and 960 tables. These days, however, Nevada offers regulated online poker, with its revenue included in the latest overall figure

Also providing a boost to June’s poker numbers was the Nevada/Delaware online poker network that expanded to include New Jersey in May. Caesars/WSOP and its partner 888 are currently the only network benefiting from the shared player pool, though, as it is the only one with a presence in all three regulated markets.

At a time when we are used to reading about the ever contracting fortunes of the worldwide poker industry, it is satisfying to see poker continuing to grow and gain more fans in Nevada, and as of June 2018 poker revenues have grown year-on-year in the state for 12 out of the past 14 months.

FY 2017/18 Completed

June’s result also completes the 2017-18 fiscal year, with statewide gaming win throughout the year amounting to $11.81 billion, or 3.2% more than the previous fiscal year. Overall, statewide slot win was higher by 3.5% at $7.54 billion, while table games also noted a 2.6% year-on-year improvement to $4.27 billion.

According to the latest information released by the Nevada Gaming Control Board (NGCB), all of the Silver State’s nineteen individual markets that are monitored by the regulator reported year-on-year gains. This includes the Strip posting a 2% increase to $6.6 billion, and downtown Las Vegas a 3.2% improvement to $628.4 million. As a result,
statewide revenue has now risen for seven out of the last eight financial years, and commenting upon the positive trend, Mike Lawton, senior analyst with the NGCB, stated:

“We are happy with that increase. We like to see that widespread growth across all markets. We haven’t had a report like this in quite some time. Every one of those markets is in positive territory. That hasn’t happened since fiscal year 2000, where every market came in positive for the fiscal year.”

As mentioned, $7.54 billion in slot revenue helped drive revenues higher, with the extra $257.6 million it collected compared to the previous fiscal year accounting for roughly 70% of the total revenue growth recorded throughout the state.

Finally, Nevada’s sportsbooks set an all-time record after generating $281.6 million in FY2017/18, marking a $53 million year-on-year improvement, and making a significant contribution to the overall game revenue increase reported.