Nye gaming revenues slip in May, stay positive on annual basis

Nye County gaming operators’ hot streak ended in May as operators experienced their first decline on a monthly basis in gaming win from the same time a year ago. Gaming establishments experienced single- and double-digit percentage increases from the summer of 2017 through the end of April.

Gaming establishments in Nye County brought in over $4.3 million in gaming revenue in May 2018—a decline of 6.09 percent from the same time a year earlier, according to data from the Nevada Gaming Control Board.

By comparison, in May 2017, operators saw more than $4.6 million in revenue from gaming, according to the state’s gaming control board.

Gaming establishments were still positive on a year-over-year basis, according to data from the state’s gaming control board.

On a year-over-year basis, gaming operators experienced an increase of 8.38 percent through the end of May.

From the beginning of June 2017 through the end of May 2018, gaming operators brought in over $51.6 million in revenue over the more than $47.6 million brought in through the end of May 2017—with that period starting at the start of June 2016.

Gaming revenue totals throughout the state were up through the end of May 2018. In May, Nevada’s gaming establishments brought in more than $1.04 billion—an increase of 5.29 percent over May 2017.

Nevada gaming establishments have seen more than $1 billion in revenue four out of five months tracked in 2018 by the gaming control board (January-May).

The state’s gaming operators also saw an increase of nearly 3 percent on an annual basis.

Operators in Nevada brought in nearly $11.8 billion in gaming revenue from the start of June 2017 through the end of May. That compares to the over $11.4 billion brought in from the beginning of June 2016 through the end of May 2017.

In a June 29, 2018 report in the Las Vegas Review-Journal, Michael Lawton, senior research analyst for the administration division of the state’s gaming control board, was quoted saying that slot-machine win statewide and baccarat play boosted the results for May.

“The driver for this month was strong Strip baccarat win, which was up $21.4 million due to improved hold,” Lawton reported to the Review-Journal.

“Statewide slot win was up a solid 3.6 percent or $23 million due to continued increases in volume, up 2.5 percent. In fact, the state has recorded 15 consecutive months of increases to slot volume.”

Sports betting in Nevada casinos also saw a large increase in revenue in May — increasing by $17.5 million or 590.5 percent, over the same time a year earlier, the Review-Journal reported.

The Review-Journal report added that the state’s sports book had their largest loss in state history for basketball in May 2017 — $4.4 million.

Overall, Nye County gaming establishments experienced an 8.47 percent loss in May for all slot machine types — compared to the same time a year earlier.

Gaming operators also saw a more than 234 percent gain in the table, counter and card game category in May 2018 over the same time a year earlier, according to data from the state’s gaming control board.

Contact reporter Jeffrey Meehan at jmeehan@pvtimes.com

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