Asset 1

Nevada Better than New Jersey in June, Say the Latest Results

Publish: 03.08.2019

Nevada had an excellent June, recording the largest-ever monthly intake in history. This helped the Silver State to generate state gaming revenue of more than $1 billion for the first time since March this year. In addition to this, sports betting handle in Nevada succeeded in overtaking New Jersey, after the Garden State handled more bets in May.

According to available information, a total of $322.1 million was wagered at sportsbooks in Nevada during June, while at the same time, sportsbooks in New Jersey handled $273 million. This represents an increase of 12.4% when compared to the same month of the previous year.

Nevada Better than New Jersey in June, Say the Latest Results

What Can’t Speak Can’t Tell a Lie

Bets on baseball accounted for the biggest portion of the sportsbook intake, which reached $208.7 million in July, surpassing June ($182.8 million) by 14.2%. Basketball bets brought $51.4, which represents the year-on-year rise from $32 million, but it should be noted that this year’s NBA Finals lasted two games longer than in 2018.

Sportsbook generated $16.6 million in revenue, dropping by one-fifth from June 2018, while the win percentage on wagers went down from 7% in last year to 5.2% in 2019. Baseball and basketball recorded revenue of $11.6 million and $946,000 respectively, while the win percentage on the latter was only 1.84%. Although football handle was at $1.1 million, Nevada lost $637,000!

At $9.53 billion, slots still represent the major portion of Nevada’s handle, improving from June last year by 3.1%. Multi-denomination video slot machines accounted for 55.7% of that handle, or $5.31 billion, while $2.7 billion was handled on penny slots. For the entire month, slots generated $636.5 million in revenue, with penny slots boasting the highest win percentage of 9.43%.

An Exciting Month

Card, table and counter games, along with sports and racing bets recorded a handle of $2.42 billion while recording a combined revenue of$404.5 million, 16% less when compared to the same period of 2018. June was the third straight month in which baccarat was the most popular card or table game among players, and also the first month since February this year in which it recorded the biggest portion of the overall revenue.

Baccarat generated $158 million in revenue, improving the results from June 2018 by more than 50%. This is also the most money baccarat brought in since February last year, with a 20.71% win percentage being the main driving force behind such an impressive feat. At the same time, Nevada handled $726.7 million in wagers on baccarat.

All in all, total revenues improved to $1.04 billion, surpassing June 2018 results ($933 million) by 11.5% and  May 2019 figures ($981.8 million) by 5.9%.

Clark County handled $9.2 billion for the entire month, with revenues increasing from 791 million in June last year to $906.7 million.

Nevada handled $7.09 billion from card, table and counter games in the second quarter of this year. Sports betting handled $967 million, with $984.2 million in revenue – dropping from $1.01 billion in the corresponding period of 2018. $28.66 billion was handled on slots, while the state handled a total of $35.75 billion during the three-month period ending on June 31, while at the same time improving its revenue by 0.97% to $2.96 billion.

Resources