September Record for Nevada Casinos, Gaming Revenue Eclipses $1B
Posted on: October 30, 2019, 12:15h.
Last updated on: October 30, 2019, 01:09h.
Nevada casinos reported a record September, as the 447 gaming floors across the state kept more than $1 billion of their customers’ betting money.
Gross gaming revenue (GGR) totaled $1.059 billion, the state’s all-time best mark for the month of September. The haul was a 6.8 percent increase on September 2018.
Baccarat, the high-roller game of choice that can greatly dictate Nevada casinos’ monthly GGR performance, delivered a strong win in September. The table game won $108.46 million for the house, which was a 54 percent year-over-year surge. Hold was exceptional at 19.5 percent.
“This stronger hold offset soft volumes, as baccarat volume totaled $557.1 million, which was a decrease of $160.7 million, or 22.4 percent (from last year),” Nevada Gaming Control Board senior research analyst Michael Lawton explained.
The record September came despite a decline in blackjack revenue. Twenty-one won $82.6 million for Nevada casinos – a 10.3 percent drop. However, slots kept $690.2 million – an 8.3 percent premium.
Viva Las Vegas
What resort fees? Las Vegas has been the subject of much criticism of late regarding the widespread practice of casinos adding on unavoidable fees on everything from hotel stays to drinks at the bar.
Resort fees are now as high as $45 per day on nightly stays at luxury properties such as the Bellagio, Wynn, Venetian, and Palazzo. And guests have complained about further add-ons on cocktails that are cleverly classified by casinos as “concession and franchise fees” or “venue fees.”
This is in addition to many Las Vegas casinos doing away with free parking – an amenity that had been afforded to all guests for decades. MGM and Caesars – the owners of the most resorts in Sin City – both now charge for parking.
Casino.org readers haven’t held back in voicing their opposition to the seeming never-ending price gouging.
I’ve been going to Las Vegas once a year for five days for the last six years. I have also noticed all the additional fees and never thought much of it. Reading about a service fee for ordering drinks, Las Vegas has just lost my business. I will not be returning,” one commenter explained.
Another added, “Maybe Las Vegas isn’t the place to go anymore! Midwestern casinos still offer free parking, excellent food and beverages without venue fees, and outstanding entertainment. I know I will be spending my money smarter and staying closer to home.”
Regardless of the outrage, Clark County casinos won $913.5 million in September – an 8.3 percent gain. And Las Vegas Strip properties reported GGR of $584.2 million – a seven percent jump.
Sports Betting Wins
Nevada regained its position as the top sports betting market in the US last month. Oddsmakers took $546.3 million in bets, and won $52 million on a 9.5 percent hold.
By comparison, New Jersey sportsbooks accepted $445.5 million in wagers, and won $37.8 million.
Nevada and New Jersey have toggled back and forth in recent months in total sports betting volume. But in September, the Silver State took the gold.