{"id":283146,"date":"2023-07-31T07:45:57","date_gmt":"2023-07-31T12:45:57","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=283146"},"modified":"2023-07-31T10:20:44","modified_gmt":"2023-07-31T15:20:44","slug":"nevada-casinos-maintain-1b-streak-but-june-revenue-cools","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/","title":{"rendered":"Nevada Casinos Maintain $1B Winning Streak, June Gaming Revenue Cools"},"content":{"rendered":"

Nevada casinos experienced a bit of a cooldown in June as gross gaming revenue (GGR) stumbled 2.4% from June 2022.<\/p>\n

\"Nevada
Las Vegas wasn’t so fabulous last month for Strip casinos as gaming revenue decreased from June 2022. But Nevada casinos managed to keep their $1 billion monthly win streak alive. (Image: Shutterstock)<\/figcaption><\/figure>\n

Silver State casinos won $1.24 billion last month, or about $31.2 million less than last June. Clark County, the home of Las Vegas, reported a GGR decline of 3.5%, while gaming revenue on the Strip slid 1%. Northern markets fared better, as gaming win in Washoe County-Reno climbed 12.5% to $69 million.<\/p>\n

The northern markets, however, couldn’t overcome the downstate losses. June marks the third month<\/a> in the previous four that statewide GGR has declined year over year. But Michael Lawton, the Nevada Gaming Control Board’s senior economic analyst, isn’t overly concerned.<\/strong><\/p>\n

The strong demand for gaming and travel in the wake of the COVID-19 pandemic led to record-setting gaming win<\/a> in both 2021 and 2022. As a result, this year’s comparables are difficult, he says.<\/p>\n

\n

The state has now recorded decreases in three of the last four months. However, Nevada continued to record gaming win amounts in excess of pre-pandemic levels,” Lawton explained.<\/p>\n<\/blockquote>\n

Lawton highlighted that the approximately $1.24 billion won last month is almost 20% richer, or $204.9 million greater, than in June 2019.<\/p>\n

Downtown Downturn<\/b><\/h2>\n

One of the more surprising data points from the NGCB June 2023 revenue report was downtown Las Vegas’<\/a> performance. GGR in and around Fremont Street tumbled more than 10% to $62.5 million.<\/p>\n

Poor win rates were largely to blame as slot machines generated GGR of $44.7 million — down over 10% — despite coin-in climbing almost 2% from June 2022. Downtown slots reported a win rate of 8.22% last month compared with 9.33% in June 2022. Table games also reported a slip in hold rates from 9.05% in June 2022 to below 7.8% last month.<\/p>\n

\n

Strip casinos also loosened their slots, as slot hold on the main drag was about 8% last month compared with 8.6% in June 2022. Strip casinos still managed to increase their slot GGR by 4% to $395.2 million because the amount wagered on the machines climbed 12.5% to more than $5 billion.<\/p>\n<\/div>\n

Table games and oddsmakers<\/a> caused the Strip’s overall GGR decline in June. Sportsbooks won just $1.8 million on a strong month for bettors, an 83% income decline.<\/p>\n

Baccarat on the Strip, the game of choice for many Asian gamblers, tumbled 29% to $99.5 million. Roulette was down almost 10% to $30.7 million. Blackjack was a lone bright spot on the Strip, as 21 won $79 million for the houses, a 22% year-over-year premium.<\/p>\n

$1B Streak Intact<\/b><\/h2>\n

Nevada casinos experiencing year-over-year monthly declines this year have been expected, according to Lawton. Following the May revenue report<\/a>, the NGCB official said the 2022 comparisons “are going to be the most difficult the state has ever faced.”<\/p>\n

June remained within 3% of June 2022 and marked yet another month where statewide GGR eclipsed the 10-digit mark. June 2023 extended the state’s $1 billion winning streak to 28 consecutive months, a historic run.<\/strong><\/p>\n

Before the current streak, the state’s longest run of winning at least $1 billion in monthly gaming revenue was just eight months. That was experienced from October 2006 through May 2007.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nevada casinos experienced a bit of slowdown in June 2023, as gross gaming revenue declined 2.4% to $1.24 billion.<\/p>\n","protected":false},"author":25,"featured_media":283150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,81886],"tags":[83926,84148,82124,23,24,85019,81890,82522],"acf":[],"yoast_head":"\nNevada Casinos Maintain $1B Streak, But June Revenue Cools<\/title>\n<meta name=\"description\" content=\"Nevada casinos experienced a bit of a cooldown in June, as gross gaming revenue (GGR) stumbled 2.4% from June 2022.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nevada Casinos Maintain $1B Streak, But June Revenue Cools\" \/>\n<meta property=\"og:description\" content=\"Nevada casinos experienced a bit of a cooldown in June, as gross gaming revenue (GGR) stumbled 2.4% from June 2022.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-31T12:45:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-31T15:20:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/\",\"url\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/\",\"name\":\"Nevada Casinos Maintain $1B Streak, But June Revenue Cools\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg.jpg\",\"datePublished\":\"2023-07-31T12:45:57+00:00\",\"dateModified\":\"2023-07-31T15:20:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Nevada casinos experienced a bit of a cooldown in June, as gross gaming revenue (GGR) stumbled 2.4% from June 2022.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/nevada-casinos-maintain-1b-streak-but-june-revenue-cools\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/07\/las_vegas_housing_market.jpeg.jpg\",\"width\":1200,\"height\":800,\"caption\":\"The Welcome to Las Vegas sign. 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