CASINO

Nevada casinos enjoy double-digit gains in October

TAGs: Nevada

las-vegas-casino-sportsbookNevada casinos had a far from frightful October, as gaming revenue enjoyed a double-digit rise from the same month last year.

Figures released Tuesday by the Nevada Gaming Control Board show statewide casino gaming revenue of $987.5m in October, 11.2% higher than October 2015’s take.

October’s gains were even higher on the Las Vegas Strip, which reported gaming revenue up 14% to $562.7m. While most of the major table game figures were all in positive territory, the overall numbers got a serious boost from slots revenue, which rose 10.4% to $631.6m.

Blackjack maintained its position as the top table earner, rising 18% year-on-year to $100.9m. Baccarat also had a good month, gaining 10.2% to $87.2m. Craps spoiled the party by falling 11.1% to $30.6m while roulette shot up nearly two-thirds to $30.3m.

Nevada’s sportsbooks continued their winning ways, reporting revenue of $42.3m, up nearly 26% year-on-year. Football claimed $30.8m of this total, up 27.7% from the same month last year. The books enjoyed a football win rate of 7.5% on handle of $400.5m, the fifth straight year of improved wagering volume and second highest football handle in the state’s history.

Excitement over the long-suffering Chicago Cubs’ storybook World Series run helped baseball betting revenue shoot up 83.6% to $4.5m thanks to a record handle of $66.4m. Basketball also had a strong month, rising 42.7% to $2.3m, while ‘other’ sports gained 63.2% to $1.5m. Parlay cards didn’t fare as well, falling 22.7% to $3.9m, while the state’s pari-mutuel race betting revenue dropped more than one-third to $3.3m.

As for the rest of the table game tallies, three-card poker led the way with $12.8m (-4.7%), while mini-baccarat earned $8.4m (+20.5%), narrowly edging out pai gow poker’s $8.3m (-3.1%). The state’s poker rooms reported flat revenue of $8.7m, while let it ride fell 14% to $2.6m, keno declined 13.9% to $2.3m and the ‘other games and tables’ rose 5.1% to $15.6m.

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