Nevada Gaming Revenue Surges Past 1 Billion for 16th Consecutive Month

Nevadas gaming halls struck gold in June, amassing a staggering $1.27 billion in earnings, with baccarat emerging as the game of the month.

This achievement marks the 16th consecutive month that the Silver State has witnessed its gambling income surpass the $1 billion threshold, reinforcing its reputation as a gambling mecca. This ongoing success further solidifies Nevada’s standing as a global gambling giant, particularly considering Macau’s recent difficulties.

Baccarat dominated the scene, with revenue surging by an astounding 237% compared to the corresponding period last year, reaching an impressive $1.432 billion.

Other games also performed admirably: card games experienced an 83% leap to $46.3 million, Ultimate Texas Hold ‘Em pulled in 22% more at $14 million, and alternative slot machines enjoyed a 22% increase, hitting $10.8 million.

However, not all games emerged victorious. Penny, nickel, and dollar slots witnessed a decline in their earnings this month.

In the realm of sports wagering, football actually cost Las Vegas $1.3 million. But fear not, all other sports more than compensated for it, ensuring Nevada remained profitable.

This influx of revenue in Nevada bodes well for US gaming corporations preparing to unveil their second-quarter earnings. This is particularly encouraging given that the general industry trend has been one of stagnant or marginally improved revenue.

For instance, Boyd Gaming only experienced a 0.1% uptick in revenue for the second quarter. Nevertheless, as their CEO, Keith Smith, clarified, this is largely attributed to the challenging comparison to the previous year, when government stimulus payments and the easing of pandemic limitations resulted in a surge in pent-up demand.

Although Kambi experienced a decline in revenue beyond the United States during the second quarter, Evolution Gaming reported a substantial 34% surge in operational earnings. This outcome was positive, yet CEO Martin Carlesund suggested the results could have been more favorable. Notably, Kambi’s figures appear significantly more robust when excluding their transactions with DraftKings, revealing a 16% increase.