Gaming in Nevada has made a comeback, baby!
The Nevada Gaming Control Board reports that the state’s casino gaming revenue exceeded $1 billion in October. The gaming revenue for the month was $1.062 billion, marking an increase of over 7 percent compared to the same month the previous year.
The Nevada gaming revenue has hit the significant billion-dollar mark. This is the first time since May that the monthly gaming revenue has surpassed a billion. Moreover, October witnessed the highest gaming revenue since February 2013.
As expected, the largest increase in gaming revenue in Nevada occurred on the Las Vegas Strip. This growth, partly due to increased casino promotions and visits, saw gaming revenue on the Strip rise by 12.2 percent to $593.4 million. Furthermore, McCarran Airport (LAS) experienced its peak activity in October.
Breakdown of Nevada gaming wins in October
- Slot machines: $693 million
- Blackjack: $125.4 million
- Baccarat: $76.2 million
- Roulette: $40.4 million
- Craps: $31.7 million
- Sports: $29.5 million
- Three Card Poker: $11 Million
Pai Gow Poker is nearing a $10 million win month for Nevada’s casinos. A 23 percent win increase brought this figure to $9.1 million, indicating the game’s growing popularity among casino visitors in search of an entertaining game. The leisurely pace of the game facilitates social interaction, while the minimal 1.46 percent house edge ensures money stays in the game longer compared to other casino games.
Megabucks contributed the most to the significant increase in slot machine winnings in October. The casinos recorded a 402 percent surge in profits from these statewide progressive slot machines. Interestingly, it’s worth noting that penny slots alone earned casinos over $300 million across the state, accounting for nearly half of the total casino slot machine earnings.
Blackjack, with a 40 percent increase in wins, offers the highest returns in table games. However, Baccarat remains the top earner for Nevada casinos over the past year, even though Blackjack has over seven times as many tables.
Revenue contributions from sportsbooks
Stories abound about Nevada sportsbooks being “hit hard” this football season. Players may score more victories, but the sportsbooks are still faring well.
Despite significant decreases from September, Nevada sportsbooks still managed to win $29.5 million. The win percentage for football fell to 28.26 percent in October, while basketball dropped to 24.88 percent, and parlay cards declined to 45.23 percent.
The sportsbooks managed to garner a win of $29 million for the month, despite challenging circumstances. Football contributed $11 million to the casino winnings. The win percentage from football stood at 3.32 percent, which is lower than the usual rate. Over the past year, the casino win from football has averaged 5.01 percent.
The conclusion of the baseball season finalizes all futures bets for that season. Nevada sportsbooks made a little over $8 million from baseball bets in October.
