What a way to end the fiscal year
Inflation, economy worries, no matter. For the 16th straight month, Nevada’s gaming win topped the $1bn mark. The $1.277bn in gaming revenue Nevada casinos generated in June 2022 was 8.06% more than in June 2021. It was the fifth-best month in state history; the best was $1.359bn, collected in July 2021.
greatest fiscal year for gaming win in Nevada history
The post-pandemic-restrictions surge has resulted in the greatest fiscal year for gaming win in Nevada history. For the 12 months ending in June, total gaming win was $14.63bn, smashing the previous record of $12.7bn, earned in the 2007-2008 fiscal year.
Last calendar year’s (January-December 2021) gaming win was $13.43bn, which was also a record, though it appears that this year could top that.
Non-Strip casinos lagging behind
Breaking it down by region, the Las Vegas Strip enjoyed its best June of all time (as did Clark County and the state as a whole), generating $734.8m in gaming win, a 22.7% increase from the same month last year.
It wasn’t all rainbows and sunshine, though, as outside of the Strip, gaming win was down in Nevada by 7.5% versus June 2021.
“On the positive side, with the exception of North Las Vegas and Laughlin, all the state’s major submarkets’ gaming win totals increased over June 2019,” Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, told the Las Vegas Review-Journal.
Lawton did not seem overly concerned, as it was not going to be easy for non-Strip casinos to outperform last year, when June 2021 was already up 13.9% from June 2019.
Sportsbooks end streak
Though June 2022 was yet another fantastic month overall, there were signs that this bullet train won’t be accelerating forever. Slot win was $838.8m statewide, but that was down 1.9% from June 2021. Slot coin in – the amount of money customers put into slot machines – was $11.2bn, down 2.1%.
Both statewide and Strip gaming win outside of baccarat was down slightly, less than a percent.
Sportsbook win was also down and down fairly significantly. The $23.8m in win generated by Nevada books was an 18.3% decrease compared to June 2021. Hold percentage was also lower: 4.86% versus 5.35%. Total wagers were down 10.1% from June 2021 to $490.3m.
Nevada sportsbooks had gone nine consecutive months of increasing business; the streak was bound to end at some point.