The Nevada Gaming Control Board has come out with last month’s figures, reporting solid performance in two divisions. According to the document, casinos across the state have increased their revenues thanks to baccarat and sports wagering… wait, what?
However, despite the amazing results, November’s proceeds did not exceed $1 billion, as previously published for the month of October.
Interestingly, the figures released on Thursday show a 6.4% rise compared to the last year’s statewide gaming revenue report, totaling exactly $967.2 million. As an illustration, the market earned $1.06 billion one month earlier.
As expected, the biggest part of last month’s gains was acquired on the Las Vegas Strip. The growth was measured in all divisions, but the Sin City’s performance rose 10% or $534.5 million, mostly due to the increased number of high-rollers in baccarat and sports betting. Their wagers sent revenues up 50.6 percent year-on-year, reaching almost $100 million.
This isn’t the first time baccarat claimed the table game vertical. Although blackjack is considered as one of the most popular games, it actually generated about two-thirds of the game’s October tally. The report reads that other card games, including craps and roulette exposed slight increase between 5% and 13%, while slots amassed whopping $634.9 million.
Following baccarat’s success, the state’s sportsbooks have also had an incredible month, tripling the revenues to $27.1 million. Nevertheless, it seems that November represents a sort of a jinx for baseball, as sportsbooks lost around $11.5 million on these wagers during the same period in 2017.
Other categories, such as football, augmented the stats by 69% or $18.45 million while NFL and basketball accumulated 61% or $10.75 million respectively. As a comparison, New Jersey’s regulated sports betting market achieved a revenue of $21.4 million in November, which is an impressive result, given the fact that the state’s iGaming environment has been active for only a few months…
Nevada definitely continues to be the country’s leader in single-game wagering, and it remains to be seen if other territories will follow its example. Equally important, a study conducted by Eilers&Krejcik, boutique research firm, has shown that New Jersey’s revenue could dethrone the Silver State by 2021, and become one of the biggest sports betting markets in the United States.
Head of sports and emerging verticals at the research company, Chris Grove, commented:
“The market by the end of the NFL season will dwarf the market as it stands today. You’ll have at least double the amount of online operators, near-permanent retail sportsbooks at most properties, and an industry-wide marketing machine fully engaged.”
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Source:
“Nevada casino November boosted by baccarat, sports betting”, Peter Amsel, calvinayre.com, December 27, 2018.