Nevada’s playing business reported whole income of $1.24bn (£977.0m/€1.15bn) for April 2024, marking a notable enhance from the earlier 12 months but additionally indicating a second consecutive month of decline. This determine represents a 6.9% enhance from the $1.16bn recorded in April 2023. However, it’s a 3.9% lower from the $1.29bn generated in March 2024. Notably, March’s income was already decrease than February’s, which had been bolstered by Nevada internet hosting the NFL’s Super Bowl.
Once once more, slot machines remained the main income supply for Nevada operators, bringing in a complete of $886.8m, which is a 5.9% rise from April 2023. Within the slot machine class, multi-denomination slots had been the highest earners, producing $586.8m, a big 26.4% enhance from the earlier 12 months.
High-stakes slots additionally carried out nicely, with $25 machines seeing a income surge of 137.6% and $100 machines rising by 14.5%. Conversely, lower-stakes slot machines skilled a year-on-year income decline.
Table Games and Card Games Boost Revenue
Revenue from desk, counter, and card video games, together with sports activities betting, rose by 9.8% to $353.4m. In this section, blackjack was probably the most worthwhile, producing $110.2m, up 16.0% year-on-year. Baccarat additionally noticed a considerable enhance, with income climbing 72.5% to $76.1m. Roulette adopted with a 4.6% enhance to $35.9m.
In distinction, craps income dropped by 25.5% to $30.3m, and Ultimate Texas Hold’em noticed a slight decline of 1.1%, bringing in $15.1m.
Decline in Sports Betting Revenue
The sports activities betting sector noticed a 5.0% lower in income, totaling $30.8m in April. Basketball betting generated the very best income at $13.3m, although this was a 12.1% drop from the earlier 12 months. Baseball betting income elevated by 18.4% to $10.7m, and hockey wagering noticed a considerable rise of 74.2%, reaching $5.7m.
Football betting resulted in a $5.7m loss for operators, though this was a 17.1% enchancment in comparison with April 2023. Wagering on different sports activities introduced in $6.8m, down 31.6% from the earlier 12 months. Notably, $24.5m of all sports activities betting income in Nevada was generated by way of on-line wagering.
Las Vegas Strip Revenue Overview
Revenue on the long-lasting Las Vegas Strip reached $666.1m in April, which is 6.6% increased than the identical month final 12 months however 7.0% decrease than in March 2024. Slot machine income on the Strip elevated by 5.1% to $409.3m, with high-stakes machines exhibiting probably the most enchancment. Multi-denomination slots led the class with $276.9m in income, up 28.2%.
Revenue from desk, counter, and card video games on the Strip amounted to $256.8m, a 9.2% year-on-year enhance. Blackjack was the highest performer in this class, producing $81.7m, up 10.2%, adopted carefully by baccarat with $76.7m, which noticed an 11.6% enhance. However, sports activities betting income on the Strip fell by 26.5% to $9.7m in April.
Key Developments in Nevada’s Gambling Sector
Beyond income figures, Nevada has seen important developments in its playing sector just lately. Earlier this month, London-listed Entain acquired unconditional approval to function in Nevada. The firm at present operates in the US by way of BetMGM, a three way partnership with MGM Resorts. Entain had beforehand operated below a collection of momentary licenses as a consequence of considerations from the Nevada Gaming Commission about its actions in unregulated markets. The latest full approval signifies that the Commission now considers these considerations to be resolved.
Additionally, Gaming and Leisure Properties (GLPI) introduced a $105m acquisition of three on line casino resorts in South Dakota and Nevada. This consists of the acquisition of Baldini’s Casino in Nevada, which spans 9 acres and homes round 492 slot machines. GLPI additionally secured the Silverado Franklin Hotel & Gaming Complex and Deadwood Mountain Grand on line casino in South Dakota.
Source: Monthly Revenue Report [pdf]
Nevada Gaming Control Board. May 30, 2024.
