Nevada casino revenue increases

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Nevada casinos got more money from fewer players in November and beat not just last year’s gaming revenues but walloped 2019 by 40.97 per cent.

The Las Vegas Strip sizzled, growing 115.86 per cent over last year and 46 per cent over 2019. Downtown and the locals markets also soared, up 59.09 and 44.7 per cent over 2019.

Las Vegas’ results benefited from higher blackjack and baccarat hold, but also from higher volumes as blackjack drop jumped 25.37 per cent over 2019 and baccarat 32.49 per cent.

Sports betting revenue came in at a record $71.972m on a near-record $1.086bn in handle. In addition to getting more from fewer players on the casino floor, operators did the same with hotel rooms. While Strip hotel occupancy declined 10.6 percentage points from 2019, RevPAR edged up 0.6 per cent.

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One reason for the gains is that casinos tapped into the regional market. Automobile traffic at the California state line rose 17.2 per cent from 2019 while air passenger counts fell 4.3 per cent.

Source: Fantini’s Gaming Report

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