It is great to be open again, but where is the business? Nevada casino gaming revenue is down – way down! The Nevada Gaming Control Board (NGCB) released the figures, showing the state’s casinos generated gaming revenue of $566.8m in June.
This is a whopping 45.5% drop year-on-year, but it outshines May 2020 by far. Capacity restrictions and relying on “drive-in” customers from neighboring states are hitting the profit margins hard. People just aren’t coming from afar.
Looking at the stats…
Las Vegas Strip casino revenue tanked by 61.4% and Downtown Vegas fell 55.6%. Fortunately, other Clark County areas suffered more modest declines. As for Washoe County, Reno’s revenue declined only 8.5% and Sparks slipped a mere 2.3%.
Reviewing more stats, June’s slots dropped 38% from the same time last year to $394.1m. The table, counter and card games’ segment experienced a 57.3% drop to $$172.7m. Mercifully, blackjack raked in nearly $54.5m (-39.5%) while baccarat posted the greatest percentage decline overall ($47.5m, -70%).
Then there are the sportsbooks. Nevada’s long 83-month streak was halted last month with a $483k loss. Of course, the pandemic-related suspension of major sports is the culprit. Plus, closed retail operations didn’t help.
At least baseball ranked second with $1.4m, but no other sport came close to the six-figure mark.
June was gloomy
June showed a lower handle of $78.2m, well below New Jersey at $165m) and Pennsylvania at $89m.
Nevada keeps insisting on the registration of bettors’ online accounts in person at a land-based casino. But they were closed! June was gloomy so hopefully July will show a rebound. More passengers are getting off planes at the McCarran International Airport – a welcome sight.
Noncompliance better improve if more visitors are to come and feel safe. They must know about the multitude of complaints. Some have been filed against the operators of the C.O.D. Casino in Minden, the Bowl Incline in Incline Village and Hotel Nevada & Gambling Hall in Ely.
According to Nevada Gov. Steve Sisolak, the state’s smaller “restricted” gaming licensees could shut down for the second time in July given the sudden spike in coronavirus cases.
Meanwhile, the Nevada Gaming Commission appointed a new chairman. Commissioner John Moran Jr. is set to replace the outgoing Tony Alamo.