Nevada Gambling Profits Fell In June Revealed By Nevada Gaming Control Board

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On July 31, the Nevada Gaming Control Board (NGCB) revealed in its newest earnings report that Nevada’s gambling income decreased on a monthly and annual basis during June of this year.

Slots as the main source of income once again

Looking at the total profit for the said month, it was calculated at $1.25 billion. However, compared to profit of $1.28 billion in June last year, this was down 2.3%, and compared to revenue of $1.29 billion for May 2023, it was also down 3.1%. However, looking at the Las Vegas area alone, income in the Clark County area reached $1.07 billion, and income from the Las Vegas Strip was $727.3 million.

nevada_revenue_declines_in_june

What’s important is that slots are once again the main source of gambling income in Nevada, with their income of $836.2 million, which is 0.3% less than the previous year. In addition, of the total slots revenue, multi-denomination slots generated $486.2 million in revenue and penny slots collected $255.2 million.

As for the counter, table and card games, their income fell 6.5% to $409.6 million. Of the total revenue from table, counter and card games, blackjack generated the most income of $104.0 million, followed by baccarat at $100.5 million, although it experienced a 29.8% year-over-year decline. Then there was the income from sports wagering, which was presented as part of the aforementioned games, which was also lower by 60.1%, and was calculated at $9.5 million.

The newest results also show, compared to figures for the last 12 months to June 30, 2023, a rise in total gambling profits reported at non-restricted casino locations in Nevada.

Baseball and hockey wagering income

As for baseball wagering, it collected $14.5 million in profits. However, the loss of profits in other sports segments has meant that this income isn’t as large in total income when looking at the market segment. Furthermore, hockey wagering wasn’t very profitable either as it resulted in a loss of $6.6 million for Nevada operators, while football betting resulted in a loss of $1.6 million. But that’s not all; as $328.000 was also lost in basketball wagers, and betting on other sports collected $3.5 million in income.

Scams schemes as a cause of lost revenue

Earlier in July, Nevada’s gambling watchdog issued a warning about an increase in scams which main target are casinos. The newest scams include people posing as senior casino management officials, with the main goal of deceiving casino workers in order to obtain large amounts of money.

In this regard, just recently, the said scheme caused a major loss of $1.17 million for one gambling operator.

Source: “Nevada gambling revenue dips in June”, IGB, July 31, 2023

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