Summary
- $1.31 billion was earned in July.
- Revenue is down 3.2% when compared to July 2021.
- Totals are over 28% higher than July 2019 which is pre-pandemic.
Casinos in Nevada are living the high life. Venues are seeing record earnings month after month and July is no exception. The state recorded $1.31 billion in earnings for July, the fourth highest total in the history of gaming in the area. With the earnings, the state has hit over $1 billion for 17 months in a row.
Beating Pre-Pandemic Numbers
The totals from July are a bit down from the previous year by around 3.2%. However, the casino industry is outperforming itself from 2019, which is a big deal. The recent monthly total is 28.4% higher than July 2019, which is before the onset of the COVID-19 pandemic.
This report means that casinos in Nevada have been able to get back to normal, earning more than they did before the pandemic began. Casinos in other states across the country have yet to be able to rebound in this manner.
Analysts feel that even though the state was down a bit from last year, numbers still good. The July totals were a record setting number for the industry as a whole and were the second highest ever for The Strip, which is another milestone.
To date, Nevada casinos are up almost 16% when compared to last year revenues. The casinos have been seeing a high number in traffic and it is certainly helping the bottom line.
Individual Area Revenue Totals
The Las Vegas Strip won $773.3 million in July which was a slight drop from the $792.6 million earned last year. Still, it is the second highest total in the history of the area, which is a major accomplishment. Local Las Vegas casinos did see a revenue drop of 3.3% from 2021 but were almost 10% better than July 2019 numbers. Downtown took the biggest hit this past month, dropping over 15% from July of last year to $60 million.
Slot volume was up at over $12 million in July, another record setting accomplishment. Card and table games dropped just under 2% with $476.4 million in earnings. Baccarat dropped over 13% with $138 million.
Sportsbooks were up from last year surprisingly, bringing in just over $419 million for the month. While the amount of bets was higher the revenues did dip quite a bit at over 51%. Only $16.2 million was earned. This generated over $14 million in earnings for the state.
It will be interesting to see how the state fares in the coming months and if this upward trend of revenue earnings will continue.
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