An Excellent August for Nevada Operators
Nevada’s Gaming Control Board published the August figures, revealing a staggering rise of 1,651% in sportsbook revenue during this month.
The main reason for such a massive jump was the Money Fight – match between undefeated eleven-time boxing world champion Floyd Mayweather Jr. and mixed martial arts (MMA) world champion Conor McGregor, who took place in August at T-Mobile Arena in Las Vegas, which was definitely one of the biggest sporting events in last couple of years.
Casino Revenue Going Up
The match saw a staggering wagering handle of between $60 million and $70 million, which exceeded the $50 million wagering handle on Mayweather vs. Manny Pacquiao fight two years ago.
During August, casino operators in Nevada generated a combined revenue of $989.5 million. It’s a 14.9% year-on-year increase, but still almost $10 million short of this year’s best result of $998 million, recorded in July.
Slot machines took home 5% more revenue than during the same period last year or $624.7 million in total. Blackjack and Baccarat revenue rose by 33.6% and 37.9% respectively, while three-card Poker grossed $11.5 million, or 5% less than in 2016.
Betting Revenue Also On the Rise
When it comes to wagering, August revenue went up to $33.95 million, while the fight itself drove a 1,777% increase – to $19.8 million, with the hold of 26.6%.
Baseball was especially popular among the bettors during August, with a 4.5% wagering hold, and a massive 772% year-on-year rise in revenue, for a total of $8.6 million. Football also saw revenue going up by more than 112% to $6.6 million.
On the other hand, racing betting revenue was down by 1.7% to $3.5 million
August results were definitely a good news for the operators in Nevada, especially since the July figures weren’t so encouraging. The previous month was marked by poor performance, with only Craps recording revenue growth.