With October well behind us, Nevada’s casino industry has announced its numbers for usually one of the busiest months of the year. However, the numbers this year around have been less than impressive. More precisely, the Las Vegas Strip has recorded a gross gaming revenue decline of almost 10 percent. Continue reading to find out more.
Las Vegas Casinos Gross Revenue Across the Board
This percentage seems even bigger when put in real money numbers. Compared to October 2018, Strip casinos raked in approximately $55 million less in the same month this year. In 2019, their gross gaming revenue was $538.5 million, compared to $593 million last year. To dig in a bit deeper and look at the statistics by each popular game, blackjack remained the highest-grossing game for Las Vegas Strip casinos, bringing in $92.2 million in October. Roulette and baccarat also suffered loses of around 30 percent compared to last year’s numbers for the same month. The only popular game that recorded a gross gaming revenue gain was penny slots, with a 5.8 percent gain.
With that being said, not all Las Vegas numbers were bad in October. Downtown Las Vegas recorded a 7 percent increase in revenue, totaling close to $5 million in profit. Moreover, South Tahoe posted the best numbers out of everyone, with a boost of over 14 percent, and over $2 million more compared to the same month last year.
Overall, despite this significant drop, the Strip has suffered in October this year, there are very few reasons for worry. The entire State of Nevada recorded gross gaming revenue of over $1 billion for a second straight month. For reminders, September was an all-time best month of September for this gambler-friendly state, as the overall revenue for the month was $952.4 million.
Las Vegas vs. NJ Numbers
New Jersey and Nevada are two of the biggest gambling locations in the US and ones that maintain a healthy position well in front of any other market. The two states usually go neck in neck in terms of profit, with Nevada often coming on top. Despite poor number Las Vegas casinos have recorded in the month of October, they still managed to edge out NJ oddsmakers. During the same period, Nevada sportsbooks recorded winnings of $47.88 million, while NJ sports betting shops recorded wins of $46.39 million.