Nevada sees gaming market recovery continue in July

Nevada sees gaming market recovery continue in July

Nevada gaming revenue grew 33.5% month-over-month to $756.8m in July, as the state’s recovery from its novel coronavirus (Covid-19) shut-down continued, with the sports betting vertical rebounding from June’s loss.

However, July’s total still represented a 26.1% decline from the prior year, at a time when social distancing requirements are in place, and rising Covid-19 cases have prompted new restrictions in some state counties.

The $756.8m total included a $210.4m contribution from table, counter and card games, down 35.9% year-on-year, but featuring a much-improved performance from sports betting.

After June saw the vertical post its first monthly loss in almost seven years, revenue rebounded in July, reaching $6.3m. However, this again represented a decline on the prior year’s revenue of $10.5m.

Based on a win percentage of 3.85%, amounts wagered in the state came to $163.5m – more than double June’s $77.9m total – of which $112.9m was staked via mobile devices. Baseball, in a month where Major League Baseball began its regular season, was the most popular US sport, accounting for $65.4m of stakes and $4.4m of revenue.

However, other sports represented by properties outside the US major leagues continued to account for the majority of spending and yield, contributing $80.3m in stakes, and $5.5m of revenue.

Read the full story on iGB North America.

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