Nevada Gambling Revenues Fall In JanuaryHowever, Demand Was Strong On Table Games |
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January was a less than stellar month for Nevada casinos and their gaming revenues.
The state said that Nevada’s nonrestricted gaming licensees reported a total gaming win of $884,203,134 for the month of January 2014. That amounted to a 2.76-percent decrease compared to January 2013, when licensees reported a gaming win of $909,267,893.
The Las Vegas Strip accounted for $499,833,194 of that total, which marked a 1.41-percent decrease year-over-year. The Boulder Strip saw revenues plunge 18.17 percent.
The reason for the decline in revenue for the Las Vegas Strip? According to the Las Vegas Review-Journal, “The Strip’s baccarat revenue fell 14.5 percent to $81.7 million, but the amount wagered on the game was $908.6 million, a 14.3 percent increase. The hold percentage — what the casinos won from the game versus what the players collected — was nine percent, well below the average hold of 12.02 percent.”
In other words, the gamblers wagered plenty, but the casinos just didn’t perform as well.
It was estimated that online poker in Nevada produced around $200,000 in revenue for January. Official numbers will be coming out in the future, as the state recently saw a third operator open its virtual doors to those physically within Nevada’s borders.
In calendar year 2013, Nevada casinos won $11.14 billion from gamblers.
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