The figures for revenue earned in 2019 by Nevada casinos have been released and it is definitely good news. According to news outlets including one article at the CalvinAyre.com, the revenue the company earned in 2019 is the third-highest ever witnessed in the history of Nevada casinos.
What’s interesting is that this report comes in when some of Nevada’s competitors complained saying the year was so hard. In answering this difference, the statement given forth by Nevada’s officials highlights that this performance was not by accident, the company has been working harder and these figures are the fruits.
In precise, these figures were released officially by the Nevada Gaming Control Board. In December alone, the statewide gaming revenue was a little over $1 billion, an increase of about 5.8% in the same period last year. Casinos along the Las Vegas Strip may have contributed the largest amount to this figure. In the month of December, their revenue went up by 4.5% to $591.8 million.
The high revenue earnings in December had a positive impact on FY19 revenue. It boosted the FY19 revenue to a high of $12.03 billion. This marked the fifth consecutive year of high earnings and the third-highest annual total in the history of the state. In 2007, the year before the financial crisis hit the hardest, Nevada recorded the highest earnings from gaming. In that year alone, the total earnings recorded were $12.8 billion.
One of the major factors that contributed to the increase in revenue in the month of December was the increase in demand for slot machines.
Earnings from slot machines went up by 10.1% to $700.1 million. For the whole year, revenue from the slot machines went up by almost 2.9% to 7.93 billion. However, earnings from the table games dipped. The largest loser in table games was baccarat whose full-year revenue went down by 13% to $1.05 billion, followed by roulette which went down by 6.4% to $25.6 million.
Revenue from blackjack tables went up by one fifth to $107.3 million in December. Craps also experienced a good month with its earnings going up by 17.5% to $38.1 million. The sports betting operators were not having a good year like their counterparts. In December alone, revenue from sports betting went down by 17.6% to $36.3 million. The largest losers were football by nearly one quarter, followed by parlay whose earnings feel to $1.13 million. Basketball also declined by 44.3% to $11.1 million.
For the year as a whole, revenue from sports betting went up by 9.55 to $329.1 million. The annual betting handle went up to $5.3 billion, which was a 6.1% increase.
The figures from Nevada rivaled those from New Jersey, where the sportsbooks reported a handle of $4.6 billion and total revenue of $299.4 million for the whole year. In New Jersey, almost 84% of gaming revenue comes from mobile gaming. The NGCB does not divide the figures earned from sports betting into mobile and land-based, something it is planning to start doing in 2020.