{"id":3380,"date":"2024-09-27T13:54:40","date_gmt":"2024-09-27T13:54:40","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3380"},"modified":"2024-09-27T13:54:40","modified_gmt":"2024-09-27T13:54:40","slug":"nevada-gaming-revenue-sees-significant-decline-in-august","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/nevada-gaming-revenue-sees-significant-decline-in-august","title":{"rendered":"Nevada Gaming Revenue Sees Significant Decline in August"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2016\/12\/nevada.jpg\" alt=\"Nevada\" class=\"alignleft size-full wp-image-631\" width=\"300\" title=\"Nevada Gaming Revenue Sees Significant Decline in August \" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>A $40m decline in baccarat and slots caused the dip. <\/li>\n<li>Revenues were down 3.8% <\/li>\n<li>The Strip and local casinos saw a decline.  <\/li>\n<\/ul>\n<p>The <strong>Nevada Gaming Control Board<\/strong> released the state\u2019s <a href=\"https:\/\/gaming.nv.gov\/uploadedFiles\/gamingnvgov\/content\/about\/abb-revenue\/2024Aug-arrevenue.pdf\">gaming revenue reports for August<\/a> yesterday, revealing a 3.8% drop. The main reason behind the decrease was a significant decline of $40 million in baccarat win and slot earnings. The state earned only $1.16 billion, down from $1.2 billion in 2023. <\/p>\n<p>Each sector of the <strong>state saw a decline in revenues<\/strong>, which led to a <a href=\"https:\/\/www.casinousa.com\/news\/nevada-gaming-industry-stalls-in-march-with-year-on-year-drop-in-revenues\">major decrease in earnings like in March<\/a>. The Las Vegas Strip dropped 3.5%, with only $643.6 million in earnings. Downtown Las Vegas was down even more, dipping 8.8% to $38.3 million. <\/p>\n<p>The Boulder Strip was down even more, with a 21.8% decrease in earnings, at $64.8 million. The region brought in over $82 million in August 2023. In total, casinos that serve the local players recorded just over $231 million, a more than 6% decrease in earnings. <\/p>\n<h2 id=\"reasons-behind-the-revenue-loss\">Reasons Behind the Revenue Loss<\/h2>\n<p>The main suspects behind the loss are <a href=\"https:\/\/www.casinousa.com\/games\/baccarat\">baccarat<\/a> win and slot earnings. Gaming Control Board senior economic analyst <strong>Michael Lawton<\/strong> commented that the decline in the $39.9 million baccarat hold was the main reason behind revenue decreases. Total wins once you exclude baccarat came in at an increase of 2.8%. <\/p>\n<p>The slot win statewide was down to just over $31 million due to a collections timing issue. August ended on a weekend so that the slot earnings will roll into this month. Due to the timing component, we may see a higher-than-average return for slots. <\/p>\n<p><a href=\"https:\/\/www.casinousa.com\/games\/slots\/real-money-slots\">Slots<\/a> on the Strip earned just over $366 million and decreased by 0.4%, which equals $1.4 million. Coin-in was up 8.5%, and slot hold was steady at 7%, a slight difference from 7.6% last year. <\/p>\n<h2 id=\"sports-betting-and-mobile-earnings\">Sports Betting and Mobile Earnings<\/h2>\n<p>Another revenue earner for <a href=\"https:\/\/www.casinousa.com\/states\/nevada\">Nevada<\/a> is the sports betting sector, with August totals at $25 million. This was a huge jump of over 38% compared to August last year. The hold percentage was 5.5%, higher than the 4.2% from last year.<\/p>\n<p><strong>Mobile bets still reign supreme, with only a 1% drop at $3.3 million.<\/strong> The full mobile bet total came in at over $313 million. Mobile betting accounts for over 68% of the state\u2019s sports betting sector wagers. Football brought in a significant amount, up over 73%, with $8.7 million in earnings. <\/p>\n<p>The first weekend of football fell in late August, which helped boost the overall earnings. Other sports generated over $7 million, an increase of more than 66%. The Olympics helped in this section of the revenue totals.  <\/p>\n","protected":false},"excerpt":{"rendered":"Summary: A $40m decline in baccarat and slots caused the dip. Revenues were down 3.8% The Strip and local casinos saw a decline. The Nevada Gaming Control Board released the state\u2019s gaming revenue reports for August yesterday, revealing a 3.8% drop. The main reason behind the decrease was a significant decline of $40 million in [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3380","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nevada Gaming Revenue Sees Significant Decline in August<\/title>\n<meta name=\"description\" content=\"The Nevada Gaming Control Board has reported that state gaming revenues declined in August, dropping almost 4%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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