According to the Nevada Gaming Control Board, the state’s gaming sector suffered a setback in June as both monthly and yearly income fell. $1.25 billion was the overall revenue for the month, which is a 2.3% decline from June 2022 and a 3.1% decline from May 2023.
Slot machines continued to be the major source of income, despite the general downturn. $836.2 million in slot machine revenue was generated, a modest 0.3% down from the prior year. Slot machines with several denominations made up $486.2 million of this total, while penny machines provided $255.2 million.
Table Games and Sports Betting Face Losses
Table, counter, and card games are significant elements of Nevada’s gambling environment in addition to slot machines. Regrettably, the $409.6 million in revenue from these games fell by 6.5%. Blackjack continued to be the best performer, bringing in $104.0 million. But the income from baccarat fell significantly, by 29.8% year over year, to $100.5 million.
Sports betting also had a difficult month. Sports betting income, which was included in the table, counter, and card games category, fell dramatically by 60.1% to a total of $9.5 million.
With a revenue contribution of $14.5 million, baseball betting was the most lucrative industry. However, the market was considerably damaged by losses in other sports. Operator losses from gambling on football and hockey, respectively, totaled $1.6 million and $6.6 million. Basketball wagers lost an additional $328,000, while wagers on other sports brought in $3.5 million.
Slot machines have proven their tenacity as the main source of income in Nevada’s gaming business despite a fall in gambling revenue. However, the total decline in income for both sports betting and table gaming emphasizes the ongoing difficulties the industry is still facing. Regulators and industry stakeholders will keep a close eye on these patterns as they plan strategies for the sector’s recovery and future expansion.
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