Nevada casino gambling revenue drops 8% as baccarat whales turn the tables

TAGs: baccarat, Las Vegas, Nevada, Nevada gaming control board

neavada-casino-revenue-downNevada casino gaming revenue slipped nearly 8% in July as baccarat whales turned the tables on their dealers. The Nevada Gaming Control Board reported that the state’s total monthly casino gambling haul came in at $925.7m, of which baccarat accounted for $118.8m, a 37.5% drop from the game’s contribution the previous July. The overwhelming majority of this VIP baccarat action takes place on the Las Vegas Strip, where overall gaming revenue fell 14.4% to $511.4m. Nevada gaming revenue has now fallen three out of the past four months.

Direct comparisons are perhaps unfair, given that July 2012’s $1.005b haul was the fourth highest in Nevada’s history, but wild variance is part and parcel of increased baccarat dependency. Baccarat enjoyed a 16% hold in July 2012 compared to a more reasonable 11.4% this July. The number of baccarat tables in action has grown from 261 last July to 288 this year.

Blackjack was Nevada’s second-highest table revenue generator, although the take was off 4.5% to $92.3m. The rest of the gaming table haul looked thus: roulette ($35.4m, +62%), craps ($28m. -20%), three-card poker ($12.2m, -0.25%), ‘other games’ ($12m), pai gow poker ($10.2m, +4.3%), mini-baccarat ($8.1m, +12.9%), let it ride ($3.1m, -5%) and keno (2.1m, -8.7%). Overall table games win was off 18.6%. Slots win was down 1% to $585.6m.

Poker win was up 3.3% to $12.4m, although Nevada regulators still aren’t breaking out how much of that figure was generated by Ultimate Poker, the only Nevada-licensed online poker site currently operating in the state. Nevada’s racebooks saw win rise 1.3% to $4.6m, but the sportsbooks collectively lost $548k thanks to a 56% decline in baseball win ($3.2m) and a net loss of $2.8m on basketball as punters cashed in leftover tickets at the conclusion of the National Basketball Association season.


views and opinions expressed are those of the author and do not necessarily reflect those of