Nevada Casinos Flutter in November, But Set New Annual Gaming Revenue Record

Nevada casinos managed to win to a greater extent than $1 1000000000000 on their gaming floors cobbler's last month to keep the 10-digit streak alive, and November’s results delivered a young yearbook gaming revenue record. But November otherwise presented small to celebrate.

The Silver State Gaming Control Board (NGCB) reported today that November porcine gaming revenue (GGR) from the state’s more than 300 licensed gaming facilities totaled $1.22 billion. It marks the 21st sequentially month that NV gaming eclipsed the $1 1000000000000 mark.

Pent-up exact from the pandemic was thought to have got fueled the state’s initial $1B+ monthly gaming run. The state’s previous longest $1 billion or more monthly gaming streak lasted simply viii months betwixt October 2006 through and through May 2007.

The US has long returned to a new normal of living with COVID-19. Gaming analysts hold expected a slowing inwards Nevada gaming revenue, but until November, it for the most part hadn’t come.

The just tidings is that despite GGR declining almost 8% year-over-year, gaming remained robust crossways the land compared with pre-pandemic numbers. November 2019 statewide GGR totaled $937.5 billion — 30% infra endure month.

November Slowdown

The Las Vegas Strip, the most of import metered marketplace in Nevada, was responsible for(p) for the Nov downturn. Strip GGR tumbled to a greater extent than 11% to $669.5 million.

Baccarat on the briny trail plummeted 37% to $57.7 million, patch blackjack was 26% lower at $72.9 million. Oddsmakers also struggled, as they won just $10.5 one thousand thousand — a 64% year-over-year drop. Slots countervail some of the mat and sports betting losses, with the terminals winning $416.2 jillion — a 2% premium.

Though November gaming slowed compared to a twelvemonth ago, statewide GGR o'er the yesteryear 12 months remains upwardly more than 13%. More hard comparisons were expected to present to a lesser extent astral monthly gaming reports inwards terms of year-over-year performance, said Michael Lawton, the NGCB’s senior economical analyst.

November 2021 represented a real difficult equivalence for the nation and the Strip with $1.3 one million million and $755.1 zillion inwards come win respectively,” Lawton commented. “But through the firstly 11 months of the calendar year, every major market inwards the body politic is up calendar-year-to-date through November.”

Only tierce metered markets experienced year-over-year GGR increases last-place month — Sparks, South Lake Tahoe, and Wendover.

New Annual Record

With a month to go, Battle Born State has already mark a young yearly GGR record. Fresh off its record-setting carrying out inward 2021 when say casinos combined to win $13.4 billion, gaming through 11 months in 2022 has eclipsed that mark.

Data from the NGCB shows that 2022 GGR from Jan through November totaled to a greater extent than $13.5 billion.

December 2021 GGR totaled $1.15 billion. If casinos win around that amount this month, the state’s 2022 full-year revenue will be inwards the neighborhood of $14.7 billion.

Before the pandemic, Nevada’s all-time topper GGR year came inwards 2007 in the lead of the Great Recession when casinos won simply shy of $12.85 billion. However, with rising prices factored in, the $12.85 billion lost by gamblers in 2007 would equate to nigh $18.45 one million million inwards 2022 dollars.