Nevada casinos break three-month losing streak thanks to baccarat and football

TAGs: Las Vegas Strip, Nevada

las-vegas-casino-revenue-risesNevada casinos snapped a three-month losing streak in September thanks to the return of pro football wagering and improved baccarat winnings.

Statewide casino gaming revenue rose 1.5% to $916.3m, while action on the Las Vegas Strip improved 2% to $504.8m. The reversal of fortune came as VIP baccarat posted year-on-year gains in both turnover and revenue, only the third time this year that trick’s been managed. For the year-to-date, statewide revenue is up 0.3% while the Strip is down 1.5%.

Baccarat handle rose 16.5% to $752m while revenue improved 23.2% to $100.5m. Blackjack also had a good month, rising 14.5% to $90.3m, while craps spiked 37.5% to $36m. Roulette spun unlucky, falling 31.6% to $21m, while slots was also in negative territory, slipping 1.8% to $572.4m despite slots handle rising 1.7%.

The rest of the table games finished thusly: three-card poker ($12.1m, +8.3%), pai gow poker ($8.4m, +7.6%), mini-baccarat ($7.1m, +1.1%), let it ride ($3.2m, -6.6%), keno ($2.3m, +15%), pai gow ($1.2m, +67%), bingo ($93k, +142%) while other games & tables rose 9.7% to $14.3m. Card game revenue, which includes the state’s two licensed online poker sites, rose 1.5% to $8.3m.

The state’s licensed sportsbooks welcomed the return of the National Football League, although the gains weren’t as significant as the previous September. Total sportsbook revenue was down 20.1% to $35.6m but September extended the state’s monthly winning streak to 26. The last time Nevada’s sportsbooks were forced to go into their own pocket was July 2013, when they collectively paid out $548k more than they took in.

Pro and college pigskin action brought in $31.2m last month, down 16.3% year-on-year, although this September featured only three NFL Sundays rather than the traditional four. Baseball revenue more than doubled to $3.6m while parlay cards fell two-thirds to $2.1m. Basketball reported a net loss of $1.2m while the race books were up 2.6% to $3.5m.


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