The State of Nevada got a significant boost with total gambling revenue increasing 10.5% month-on-month in September, but posting a 22.4% results year-over-year.
Nevada’s Road to Recovery Begins in September
Nevada’s gaming sector continued on its path to recovery in September as the state experienced the best month since February, the last full month before gaming activity was halted to stop the spread of the coronavirus.
Total revenue was 22.4% down year-on-year but saw a 10.5% increase over August. The top-line stood at $821.1 million statewide, the Gaming Control Board reported on Wednesday.
While the Las Vegas Strip underperformed in terms of revenue, some regions in the North experienced a revival. Casinos in Lake Tahoe for example enjoyed a 36% revenue growth compared to August. Yet the Strip suffered a third consecutive month of decline with its top-line dropping by 39% on an annual basis. It accounted for a whopping 96.3% of the state’s decrease.
Gaming revenue in downtown Las Vegas performed better than the average for the Strip, marking a 21.4% decline year-on-year. Several gaming sites in North Las Vegas are still closed.
Solid Gains in Slots, Table Games
Slot machines contributed the most to the statewide growth, accounting for $607.5 million or 15.6% more than August. Players staked a total of $8.37 billion.
Table games were the number two revenue driver, contributing $213.6 million or 1.8% more than August, with total stakes standing at $1.95 billion.
Blackjack brought a solid margin as it generated $64.6 million in revenue out of $417.3 million in total stakes.
Baccarat however flaunted its margins as it added just $14.2 million in revenue while players staked $487 million, more than any other (table) game.
Las Vegas Visitation Rebounds
While gaming activity in Las Vegas was still far from pre-COVID levels, figures by the Las Vegas Convention and Visitors Authority show that visitation in September grew by almost 11% over August with 1.7 million total visitors or 51% less than the same time last year.
The CVA posted a similar survey in July, when Strip casinos were only beginning to reopen, citing some dispiriting overall numbers. Still, visitation was severely hampered by the drop in airline travel. A total of 1.7 million passengers passed through McCarran International Airport in September, marking a drop of more than 60% year-on-year.