Nevada Revenue Rises as Covid Relaxes
The U.S. state of Nevada has experienced a healthy 18.9% month-on-month growth in state gaming revenue in May 2021. The results arrived shortly after the state increased the capacity of its casinos up to 80%, thereby loosening earlier restrictions imposed to curb the spread of the coronavirus (Covid-19).
The U.S. state of Nevada saw encouraging 18.9% month-on-month growth in state gaming revenue in May 2021. The figures are largely due to an increase in the capacity of its casinos — now up to 80%. ©jplenio/Pixabay
Nevada Revenue Also Grew Significantly Year-on-Year in May 2021
The state of Nevada’s overall gaming revenue increased by a healthy margin in May 2021, following the increasing of the state’s casinos’ capacity to 80%. According to the most recent figures posted by the Nevada Gaming Control Board, Nevada’s state gaming revenue for May increased by 18.9% month-on-month, up to a total of $1.23 billion.
Not only did the state’s total gaming revenue increase when compared to April 2021 — it also skyrocketed from May 2020’s meagre $5.8 million total. This anomaly in total revenue was entirely due to the fact that all of the state’s casinos were forced to close in efforts to curb the spread of the novel coronavirus (Covid-19) pandemic.
In terms of revenue breakdown by county, Clark County, in which Las Vegas is located, naturally made up the bulk of the state’s revenue for May 2021 — $1.05 billion to be exact, which was also up 21.6%. The Las Vegas Strip alone accounted for $655.5 million, or 62.3%, of this overall total.
Slot Machines Were Main Drivers of Nevada Revenue
When breaking down Nevada’s May 2021 state gambling revenue by vertical, it becomes clear that the majority of the revenue arrived from slot machines, which should come as little surprise. These accounted for $840.9 million of the total, a 6.5% increase from April.
However, table, counter and card games also increased during this period, with revenue ascending by 59.1% compared to April, up to a total of $389.2 million. These verticals naturally also benefited from increased casino capacity and more spots for players to sit at at gambling tables.
Baccarat helped fuel this growth in particular, with revenue within this vertical rising from $29.4 million in April to an impressive $108.4 million in May 2021. Roulette also grew during the same period, by 41.1% to be exact, up to a total of $99 million.
Sports Betting Also Contributed to Rise, Though Only Marginally
As for sports betting in Nevada, this vertical saw only a marginal rise during a period of otherwise significant growth for state gambling. Revenue generated by sports betting increased to $27.1 million only which, based on a win percentage of 5.67%, indicates a handle of $477.7 million for the month of May 2021.
When further breaking down sports betting’s total revenue, $13.3 million came in from mobile devices, which was down 25.5%, while stakes totaled $297.9 million due to a 4.46% win percentage. The most profitable sport in terms of revenue was basketball, echoing April’s results, however this also declined — down to $11.4 million.
Nevada Ended All Social Distancing Restrictions on June 1st, 2021
With May 2021’s increased revenue results being largely thanks to increased casino capacity in Nevada, June’s results are likely to grow even further, seeing as the Nevada Gaming Control Board has now permitted all gambling properties to return to 100% starting from June 1st.
Nevada’s main gambling and casino providers, such as Caesars Entertainment, MGM Resorts and Wynn Resorts, were already permitted to ease restrictions in May 2021. From June 1st onwards, however, all casinos across the state have been able to operate according to usual capacity limits. Furthermore, customers will no longer be required to social distance while on the casino floor.
As part of its Covid-19 Mitigation Protocols Update, the Nevada Gaming Control Board stipulated that if the spread of Covid-19 in Nevada increases all of a sudden, as well as if the state chooses to reintroduce quarantine measures and restrictions, then restrictions applied to casinos could foreseeably return.
As of May 26th, 2021, the Covid-19 situation in Nevada remained somewhat stable, with the state recording 227 new cases on that day, along with a seven-day average of 219 — the lowest rate since mid-June 2020.
Nevada Previously Increased Casino Capacity in March 2021
Prior to May and June 2021’s return to almost full casino capacity, Nevada Governor Steve Sisolak signed a new ruling in March 2021 which raised the number of allowed visitors inside Nevada casinos from 35% capacity up to 50%.
The decision came as part of Governor Sisolak’s “Roadmap To Recovery,” in which a series of legislation was developed to help the state of Nevada recover from the ongoing economic hardships caused by the Covid-19 pandemic.
These new rules largely targeted social distancing measures, with more lax maximum capacity limits applying not only just to casinos, but also to gyms, pool halls, mini-golf greens, bowling alleys, and more.
Previously in February 2021, Governor Sisolak raised maximum capacity limits for state casinos up to 35%. This easing of contact restrictions followed a strict lockdown period lasting from November 2020 until February of the following year. Nevertheless — casinos were permitted to operate at 25% for part of this period.
