Nevada Casinos Down in October Despite Sportsbook Haul

Baccarats bust spoiled blackjacks bonanza, as the games revenue rose 9.8% to $85.4m. Sportsbook revenue was up 21.8% to $33.6m on handle of $504.6m, the latter figure second only to November 2014s $535m wagering total. The rest of the table games finished as follows: pai gow poker ($8.5m, -4.8%), mini-baccarat ($6.9m, -9%), let it ride ($3m, -12.3%), keno ($2.7m, (+9.3%), while other games & tables rose 12.8% to $14.8m.

The states poker revenue which includes both land-based card rooms and Nevadas two licensed online poker sites was flat at $8.7m. As for the sportsbooks, football had a great month, with revenue up 38.7% to $23.5m on a 5.9% hold. Craps also had a good month, rising 13.1% to $34.4m, while roulette takings tumbled 45% to $18.3m. The World Series didnt help baseballs fortunes, as revenue fell 34.3% to $2.5m. Sure enough, the game reported revenue falling 21.8% in October to $79.1m as hold slumped to 8.9% compared to 10.2% in the same month last year (which was itself down two points from October 2013).

Figures released on Monday by the Nevada Gaming Control Board showed Octobers statewide casino revenue falling 2.9% from the same month last year to $887.6m.

The numbers are a disappointment given Septembers positive performance and particularly for spoiling a stellar month at the states licensed sports betting operators. The decline was more pronounced on the Las Vegas Strip, where revenue fell 5.1% to $493.8m.

November 30, 2015

nevada-las-vegas-casino-sportsbooksNevada casinos returned to negative territory in October despite sportsbooks posting their second highest monthly betting handle total. Basketball was down 5% to $1.6m while other sports added $920k and parlay cards jumped 11.2% to $5.1m.

As ever, when the Strips overall numbers are worse than the statewide performance, high-volume baccarat is usually to blame. . Total statewide slots revenue was down 1.4% to $572.2m on a similar decrease in slots handle

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