Nevada October gaming revenues

Buoyed by gains on the Strip, Nevada’s casinos, which had record sports wagering but a declining hold in baseball and basketball, reported an improvement in its gaming win percentage in October — the strongest month since the industry reopened in June — just as casinos face tighter restrictions.

Nevada’s casinos reported a gaming win of $822.6 million in October, a 19.5% decrease from October 2019 when the win was $1.02 billion. In September, the gaming win was $821.1 million, which was a decline of 22.38% from September 2019.The news from the Nevada Gaming Control Board Tuesday comes as casinos are required to restrict their gaming floors to 25% capacity, down from 50% as ordered Sunday by Nevada Gov. Steve Sisolak in a bid to slow coronavirus infections.

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Since July 1, statewide gaming win has decreased 22.54% statewide. Gaming win was down 22.08% in August and 26.1% in July, the first full month of gaming operations.

In Clark County, the gaming win was $671.8 million in October, a decline of 23.5%. The gaming win in September was $666.7 million, a decline of 26.9%.

The Las Vegas Strip saw improvement with a gaming win of $375.7 million, a decline of 30.2%. The gaming win in September was $354.6 million, a decline of 39.1%.

Gaming operators said in their latest earnings reports said October would be a stronger month for gaming.

Downtown was down 22.6% from October 2019, which is little worse than the 21.4% decline in September compared to the previous year.

The balance of Clark County, which includes many local casinos, was up 2.35% over October 2019. It was up 2.28% in September over September 2019.

North Las Vegas was down 26%, the same as in September compared to 2019.

On the sports betting front, Michael Lawton, senior research analyst for the Gaming Control Board, said there was $659.6 million in sports wagering, up 21.3% or $115.6 million from October 2019. The previous record was $614.5 million.

Sportsbooks won $42.4 million, which was down 11.5% or $5.5 million from October 2019. The reason is sportsbooks held 6.43% in October, which is down from 8.81% in October 2019. The hold was 5.72% in September.

Sports wagers made with mobile apps won casinos $13.6 million on $376.9 million wagered. The hold was 3.6%. Mobile wagering accounted for 57.1% of total wagers, Lawton said.

Sportsbooks won $32.5 million on football out of $441.1 million wagered, a gain of 24.5% or $26.1 million in October 2019. That’s a hold of 7.39%, up from 4.81% in September. There was $355.6 million bet on football in October 2019.

Sportsbooks won $5.1 million on baseball, a decline of 54.9% in October 2019 when the win was $11.4 million. The hold was 4.68%.

For basketball, sportsbooks lost $189,000 out of $37 million wagered. In 2019, they won $3.5 million out of $36.1 million wagered.

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