How Nevada’s Recovery Kicked on in September
September was a crucial month for Nevada’s gaming sector. The month has emerged as the best since February following the suspension of gaming activities to curb the spread of coronavirus. According to Wednesday’s report by the Gaming Control Board, total revenue stood at 22.4% year over year. However, in August, there was an increase of 10.5%. The top-line was 821.1 million dollars in handle statewide.
However, in terms of revenue, the Las Vegas Strip performed poorly, but some regions across the State experienced a remarkable boost. For instance, Lake Tahoe casinos had a 36 percent revenue increase compared to August. Nevertheless, the Strip experienced a decline for three consecutive months, with its top-line decreasing by 39 percent annually.
In Downtown Las Vegas, the gaming revenue was far better than Las Vegas Trip, which marked a 21.4 percent drop year-on-year. Most North Las Vegas gaming sites are still not operating.
Significant Gains in Table Games and Slots
The slot machines played a crucial role in boosting statewide growth. It accounted for 607.5million dollars, equivalent to over 15.6% compared to August. The bettors staked about $8.37billion.
Second, in position in boosting the revenue were the table games. They accounted for $213.6million. There was an increase of 1.8% from August. The total stakes stood at $1.95billion.
Blackjack also played a key role by contributing $64.6 million income from the 417.3million dollars overall stakes.
Baccarat also led to revenue growth by contributing $14.2 million. Bettors staked 487 million dollars. This was the best among all the other table games.
The State of Nevada Gaming Revenue in August
According to September Nevada’s gaming figures, it’s evident that it was the best month following the 22.1% revenue decline witnessed in August. For instance, in August 2020, there was a gaming win worth $743million, which was far too low compared to $954 collected in August 2019. Still, it was slightly lower than the $756M collected in July 2020.
Strip took the Biggest Hit in August
According to the report released by Nevada Gaming Control Board, Strip was the most affected since it experienced a revenue decline of 39.2%-that’s equivalent to $317M. Strip gaming wins declined dramatically in April and May, reflecting a 99% decrease. By August, the Las Vegas strip accounted for 97.1% states overall decline.
Lifting Ban on Nevada Casino Operations
Casino operations resumed in August after shutting down the gambling industry for 78 days since March 18th, following the unfortunate Coronavirus outbreak. So, various casinos have been operating since then but under stringent health regulations. The strict cleaning protocols, and social distancing guidelines, really effected casino operations in August. And as a result, they affected the State’s revenue generation. However, things were different in September. Not even the limitations put in place could hinder revenue growth.
Visitation Rebounds in Las Vegas
It’s indeed true that Pre-COVID-19 Las Vegas gaming activities far outweigh the current gaming activities. However, according to the Las Vegas Convention and Visitors Authority show, September visitation increased by over 11% compared to August, with a total of 1.7 million visitors.