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Nevada gambling revenue declines again in April

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The total gambling revenues in Nevada in April were $1.24 billion (PS977.0m/EUR1.15bn), an increase over last year, but a second consecutive decline for the Silver State.

Nevada’s March total for this year was $3.9% lower than the $1.29 billion in Nevada from last April. The March total was lower than the February one, which had been buoyed by Nevada hosting the NFL Super Bowl in February.

Slots were the main source of income for operators again in April, with a total revenue of $886.8m. It is 5.9% more than April of last year. The most popular slots were multi-denomination, which brought in $586.8m. This is a 26.4% increase.

The revenue from high-stakes machines also increased, both for $25 ($137.6% increase) and $100 ($14.5% increase). All lower stakes machines saw revenue declines year-over-year.

Growth driven by blackjack and baccarat

In Nevada, revenues from card, table and counter games, including sports betting, grew by 9.8%, to $333.4 million.

In this sector, the blackjack game generated $110,2m, an increase of 16.0% on a year-on-year. Baccarat revenues also increased 72.5%, to $76.1m. Roulette revenue increased by 4.6% to $34.9m.

Revenue from Ultimate Texas Hold’em fell 1.1%, or $15.1m, to $15.9m. Craps revenue dropped by 25.5%, to $30.3m.

Sports betting revenue dips 5.0% in April

In April, revenues in the Sports Betting market were down 5.0% at $30.8m.

Basketball betting generated $13.3m in revenue, a decrease of 12.1%. Baseball betting revenue increased by 18.4%%, reaching $10.7m. Hockey wagering revenues jumped up 74.2%, to $5.7m.

The operators lost $5.7m on football betting, but that was an improvement of 17.1% over last April. Other sports betting generated $6.8m, a 31.6% drop from last year.

Online sports betting in Nevada generated $24,5m.

Las Vegas Strip Revenue reaches $666.61m

The famous Las Vegas Strip saw revenues of $666.1m in April. It is 6.6% higher than the previous month, but still 7.0% below March’s revenue.

Revenue from slot machines increased by 5.1%, to $409.3m. High-stakes games saw the biggest increase. Multi-denomination machines generated more revenue, $276.9m. This is a 28.2% increase.

The revenue from table, counter, and card games was $256.8m. This is also 9.2% higher than the previous year. Blackjack brought in the highest revenue of $81.7m (up 10.2%), just ahead of Baccarat with $76.7m and an increase of 11.6%.

The Strip’s sports betting revenues fell 26.5% in April to $9.7m.

What other events are happening in Nevada?

In recent weeks, there have been several important developments on the Nevada market.

Entain, a London-listed company, was granted unconditional permission to operate in Nevada earlier this month. The US operation is currently run by BetMGM, a joint venture between MGM Resorts and the operator.

Entain operated previously under a licence of two years and more recently a licence of three years that expired in may. Nevada Gaming Commission expressed concerns over the company’s operations on unregulated markets.

The Commission’s full approval indicates that it believes the situation is past.

Gaming and Leisure Properties, Inc. (GLPI), announced that it had acquired three casinos in South Dakota and Nevada for $105 million.

GLPI has acquired real estate assets from Baldini’s Casino, Nevada. Baldini’s Casino covers nine acres and has around 492 slots.

The Silverado Franklin Hotel & Gaming Complex in South Dakota and Deadwood Mountain Grand Casino have also been acquired.

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