Summary:
- Gaming win equaled $1.25 billion.
- Clark County casinos dropped revenues by 3.5%.
- The revenue dip was expected due to record highs in 2022.
The gaming industry in Nevada is struggling a bit when considering the June earnings totals. The earnings for the month decreased from June 2022 totals by more than 2%. Around $1.25 billion was generated, with Clark County venues bringing in the majority of earnings.
Anticipated Decline for Nevada Gaming
It was expected that the June totals would be a bit low compared to last year due to the monthly revenue highs of 2022. It has been hard for Nevada to bounce back from pre-COVID earnings totals, and June is no exception. Last year was a boost, and it will be difficult for the state to bring in the same numbers on a consistent monthly basis.
The drop in gaming win is low, at 2.4%, though Clark County saw a decrease of 3.5%. Even though gaming totals decreased, the first six months of this year are promising for yearly growth. The state is up by just over 3% from last year.
Fiscal year totals are also good. The Las Vegas Strip recorded an increase of 4.8% in the fiscal year ending in June. The earnings hit well over $8.5 billion. Officials and gaming operators are hopeful that the increasing trend will continue and that 2023 will eventually end as a record year for earnings.
More June Details for Nevada
Even though this month was a decline from last year, there was a bright side. The gaming win amounts beat June 2019 post-COVID totals by over 19%. In total, the gaming win came out at just over $204 million more than in June 2019. This month was also the 28th in a row that the state reached over $1 billion in gaming wins.
June brought in a steady flow of traffic thanks to a full calendar of special events. Concerts were booming, with fans coming to see James Taylor, Garth Brooks and Adele. Sporting events were also big business resulting in casino hotel stays and gaming purchases.
Players were also on hand to compete in the World Series of Poker (WSOP). Players had additional poker events to sign up for, including online and offline events.
Breaking down game earnings per type, the slot win on the Strip was up by 3.9%. Baccarat saw an unfortunate sharp decline at over 29%. Blackjack win was also up, increasing by over 22%. Sports betting was a good month for players as sportsbooks only collected $9.5 million. This was a decrease of more than 60% when compared to last year. The hold was less than 2%.
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