Nevada Casinos Up 9.6% To $1.03bn In December

admin, February 3, 2014 1:30 pm

Nevada Casinos Up 9.6% To $1.03bn In DecemberThe Gaming Control Board has released Nevada’s December casino results showing the Silver State ended the year on a high after generating $1.03 billion in gambling revenue, an improvement of 9.6% compared to the $943 million taken for the same month in 2012.
Nevada’s December tally represented only the second $1 billion month for the state in 2013, with the Las Vegas Strip accounting for $664 million of total earnings, up 13% year-over-year. The state then collected around $36 million in tax fees, down almost 10% from December, 2012.
Breaking the figures down further, December’s slots revenue was up by 13.3% to $557.7m, Baccarat win was up by 28.2% to $243m, Blackjack win was down by 13.2% at $82.1m, while craps and roulette generated $30.2m (-9.6%) and $28.7m (-21%) respectively. In addition, casino poker revenues fell by 1.4% to $9.7m, while online poker results are not scheduled to be released until at least a third operator joins the state’s two internet poker rooms, WSOP.com and Ultimatepoker.com.
Nevertheless, Union Gaming Group attempted to extrapolate Nevada’s undisclosed online poker revenues, with analyst Robert Shore saying  online poker generated around $200,000 in gambling revenue. However, as Shore, explains: “Payment processing issues are likely still weighing on results. We also note Nevada only allows online poker. We don’t expect online poker to be that meaningful.”
December’s casino tally helped push 2013’s total gaming revenue up to $11.14 billion, an improvement of 2.6% over 2012, and the state’s best yearly total since 2008. However, the annual win still remains 15% lower than the peak reached in 2007 of $12.8 billion. For the year, slots generated $6.75 billion in revenue, representing 60.6% of the total gaming pie, whilst baccarat generated 16.2% more revenue at $1.6 billion in 2013, equivalent to 14.3% of the statewide gaming win. Finally, the casinos sports betting win rose 19% to hit an all-time high of $202.8 million, with football wagers reaching $1.6 billion and $8.8 million in winnings.

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