In the most recent monthly state results in the US, iGB delves deeper into the fluctuations within the gambling industry. In Nevada, a decrease in slots activity was the main contributor to an overall drop in gambling revenue for the month of August. However, Mississippi saw growth within its retail sports betting market.
According to data from the Nevada Gaming Control Board, mobile sports betting in the state was up 13% compared to 2023, reaching $14.8m in revenue. Baseball was the top revenue earner among all sports, bringing in $9.7m in August, with American football betting following closely at $8.7m. On the other hand, hockey and basketball betting yielded losses for operators. Betting on other sports added an extra $7.6m in revenue, with $14.8m of total wagering revenue coming from mobile platforms.
In addition, revenue from sports betting pools, which falls under table games, saw a significant increase of 38.9% year-on-year to $25m in August. However, the Control Board does not disclose handle details for sports betting.
Overall gambling revenue in Nevada experienced a 3.8% decline year-on-year, totaling $1.16bn for the month. This figure also marked a 7.7% decrease from the previous month of July. The primary reason for this decrease was the drop in in-person slots revenue, which fell by 3.8% to $798.3m in August. Amongst the different types of slots, double-digit declines were observed in one-cent, five-cent, 25-cent, one-dollar, and five-dollar slots. It was noted that multi-denomination slots, which are a key source of gambling revenue in the state, saw a 15.7% increase to $555m.
On the other hand, revenue from table, counter, and card games, which includes sports and racing pools, also saw a 3.8% dip to $365.5m. Blackjack remained the top revenue generator within this category, bringing in $105.9m for the month, reflecting a 6.9% increase from August of the previous year. Roulette revenue experienced a significant 22.9% growth to $49.0m, and growth was also reported in three-card poker and Ultimate Texas Hold’em.
Despite these positive trends, declines were seen in other areas, affecting the overall figures in Nevada. Baccarat revenue dropped by 34.3% to $76.3m, while craps revenue decreased by 7.8% to $33.4m. Additionally, Keno and Pai Gow revenue saw year-on-year decreases as well.
Overall, the analysis of the state results showcases a mix of ups and downs in the gambling industry, highlighting the importance of examining various factors influencing revenue generation in different sectors. As the landscape continues to evolve, staying attuned to these trends is essential for both operators and regulators to navigate the dynamic market effectively.
