Nevada casino revenue falls to $1.3 billion in July

Month-over-month gaming revenue, mirrored an up  by 1.6% from the $1.29 billion reported in June. Slot winnings increased 11% and offset the 15.3% decline in table games revenue.

The overall figure was down 6.9% year-over-year from a then-record $1.4 billion, as the $392.7 million won on the felt represented a decline of $120.4 million in terms of dollars. The sharp falloff in table games overwhelmed a modest 2.6% rise in slot revenue to $914.1 million.

The state collected $95.9 million in percentage fees based on taxable revenue in July. That was down 0.2% from last year, which amounts to $192,800. The $165.6 million collected the first two months of Fiscal Year 2025 is down 8% from the same period last year.

Huge Reversal of Fortune in Baccarat

The dramatic swing in table games revenue came largely from baccarat, where the house cratered compared to July 2023. The $73.6 million in winnings was down 61.9% from 12 months prior and well beyond the 7.5% decline in drop to $759.9 million. The 9.7% win rate was the only single-digit hold statewide for card games in July and was down 13.8% year over year.

The huge loss in baccarat overshadowed gains in two of the other top-three revenue generators for table games. Blackjack led all table games for operator winnings at $117 million, up 7.6% from last year, while craps winnings ticked 7.2% higher to $43.2 million. Roulette winnings slid 15.9% to $33.3 million due to a combination of lighter handle and a 15.5% hold that was 1.7 percentage points lower than last year.

Revenue from the catch-all card games category totaled $35 million, an increase of 3.4% as the NGCB reported 573 positions compared to 540 in 2023.

Multidenominational Slots Continue to Hold Sway

The 78,920 slot machines across Nevada that offer multidenominational play represented an increase of 17% compared to last year. Those gaming units account for 62.3% of all slot positions in the Silver State, versus 54.1% from July 2023.

Thus, it made sense that those slots would have year-over-year gains in revenue at $630 million, up 22.7% from last year. It was the only category that showed gains from July 2023, with penny slots a distant second at $202 million. That was down 26.6% with 16.7% fewer units in play at 37,550, though the 9.9% hold for penny slots was the highest of any specific denomination in July.

Dollar slots took the final podium spot for revenue with $48.4 million, down 12.7% from last year. That could be viewed as a positive, as the 5,374 positions were 16.1% fewer from July 2023. The hold on dollar slots was 7.4% — nearly 1.3 percentage points higher compared to last year — from $653.6 million in drop.

The $12.07 billion in overall slot drop was down 2.5% from last year, while the 7.6% hold spanning the 126,630 slot positions was nearly four-tenths of a percentage point higher.

By Chris Altruda