Nevadas gaming establishments earned a massive $1.27 billion in June, driven by a surge in baccarat play.
Known as the world’s gambling hub, Las Vegas lived up to its reputation as Nevada reported June earnings of $1.27 billion. This achievement represents the sixteenth straight month the Silver State has exceeded the billion-dollar mark in gaming revenue, cementing its status as a global gambling leader, particularly with Macau’s recent difficulties.
Baccarat experienced an astounding 237% year-over-year jump, generating a remarkable $1.432 billion.
Other games showing notable gains included card games, rising 83% to $46.3 million, Ultimate Texas Hold ‘Em, increasing 22% to $14 million, and alternative slot machines, which witnessed a 22% climb to $10.8 million.
Conversely, penny, nickel, and quarter slots all experienced a decline in earnings this month.
In the realm of sports wagering, football actually cost Las Vegas $1.3 million, yet all other sports yielded a profit for the state.
Nevada’s robust figures indicate a promising outlook for US gaming operators’ upcoming second-quarter earnings releases, despite the general Q2 trend being stagnant or slightly negative.
For instance, Boyd Gaming only posted a 0.1% revenue increase for Q2.
Nevertheless, the company’s president and CEO, Keith Smith, attributed this to challenging comparisons with the prior year, which benefited from stimulus payments and the relaxation of pandemic limitations.
As Kambis Q2 earnings revealed a 19% decline internationally (although a 16% increase excluding DraftKings), Evolution Gaming experienced a 34% surge in operational income – a positive result, but one that Chief Executive Officer Martin Carlesund acknowledged was “below expectations.”