Nevada's casinos break through the $1 billion revenue mark again in June
Nevada's casinos can look back on a successful early summer. According to the latest data from the state's gaming regulator, gambling companies generated more than USD 1.19 billion in revenue in June. This marked the fourth consecutive month operators earned more than $1 billion.
Compared to June of last year, when casinos took in just over $560 million, the increase represents a 110% increase. Operators are also doing well compared to 2019. In the year before the Corona crisis, the desert state's casinos earned USD 1.04 billion.
According to gaming regulators, the growth is based on a broad base. Michael Lawton, the senior analyst at the agency, commented:
Except for the Las Vegas Strip, all markets were up in June 2021. The Strip was down compared to June 2019 but made an incredibly strong comeback for the quarter.
As a result, the Strip is down a slight 1% from 2019. Despite the small dip, casinos in downtown Las Vegas still contribute over half of Nevada's revenue.
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Slot machines proved particularly successful. These turned over $868 million in June, breaking the revenue record set in 2007.
The sports betting sector also posted good figures. There, a new record value for June was achieved with USD 315 million. Here, the figures from the gambling regulator show the importance of mobile online betting. These were responsible for 58% of sales.
Despite the economic boom, the outlook for Nevada's casino operators is not all rosy at the moment. Last week, for example, rapidly rising infection figures led to countermeasures on the part of Governor Steve Sisolak. This decreed that in the Casinos since last Friday again a mask obligation prevails.
A comparison of the quarterly figures makes the casinos look even better. According to this, Nevada's gambling industry earned USD 3.46 billion from April to June this year. In the same period last year, by contrast, revenues were just USD 576 million due to the Corona-related lockdown.
This represents a more than five-fold increase in gross gaming revenues. The coming months will show whether the recovery will continue despite the still threatening Corona situation.