Nevada continues $1bn+ winning streak in May

Nevada’s gaming sector generated win of more than $1bn for the 15th month in a row in May 2022.

According to figures released by the Nevada Gaming Control Board, the state’s licensees reported a total gaming win of $1.30bn for the month. This was up 5.7% compared to May 2021, when licensees reported a gaming win of $1.23bn. It was also 32.4% higher than the $984.5m collected in pre-pandemic May 2019.

Las Vegas Strip casinos reported $731.5m in gaming revenue — the market’s highest-ever total for May. The figure was 11.6% higher than the $655.4m collected in May 2021.

Clark County as a whole collected $1.13bn in gaming revenue and accounted for almost 87% of the state’s total.

Table, counter and card games win was up 10.4% year-on-year to $430.0m, with win percentage at 14.4%. Slot machine win was at $870.1m, which was up 3.52% with win percentage at 7.3%.

Mobile sports betting wagering was up 23.6% to $16.4m. Baseball was the biggest total betting draw with wagers of $12.1m, with basketball at $9.6m and other non-major league sports at $6.4m.

According to local media reports, Gaming Control Board senior economic analyst Michael Lawton said special events, including the Canelo Alvarez-Dmitry Bivol boxing match and the Electric Daisy Carnival, brought large crowds to Las Vegas.

“The Strip faced a very difficult comparison versus the growth rate for May 2021,” Lawton said.  “Moving forward, the Las Vegas Strip will be facing stiff comparisons for the remainder of the calendar year.”

For the first five months of 2022, statewide gaming revenue is up more than 22.6% over 2021, which saw a single-year record of $13.4bn. Strip gaming revenue is up 40.2% over 2021, which ended with a record $7bn in gaming revenue.

Author: Raymond Fleming