In August, betting revenue in Nevada saw a significant increase of 39.7%. Slot machine activity has influenced overall betting revenue in Nevada and the growth of the retail sports betting market in Mississippi.
Mobile sports betting in Nevada grew 13% to $14.8 million, according to data from the Nevada Gaming Control Board. Baseball led in revenue, generating $9.7 million in August.
Bets on American football totaled US$8.7 million, while hockey and basketball resulted in losses for operators. Betting on other sports added $7.6 million to revenue, with $14.8 million coming from mobile devices.
Sports betting revenue, accounted for table games, increased 38.9% year-over-year, reaching $25 million in August.
Slot betting revenue falls in August
Total betting revenue in Nevada fell 3.8% to $1.16 billion. This value is also 7.7% lower than that recorded in July 2023. The main reason for the drop was the decrease in revenue from in-person slots, which fell 3.8%, totaling US$798.3 million.
There were double-digit declines in one-cent, five-cent, 25-cent, one-dollar and five-dollar slots. However, multi-denominational slots, the main source of gaming revenue in the state, saw revenue rise 15.7% to reach $555 million.
Mixed results for table games
Revenue from table and card games, including sports and race betting, also fell 3.8% to $365.5 million. Blackjack was the top revenue generator, bringing in $105.9 million, a 6.9% increase from August last year.
Roulette revenue increased 22.9% to US$49 million, with growth also in three-card poker and Ultimate Texas Hold’em.
However, baccarat revenue fell 34.3% to $76.3 million, while craps revenue decreased 7.8% to $33.4 million. Revenue from Keno and Pai Gow was also lower compared to the previous year.
Sports Betting Revenue Growth in Mississippi
In Mississippi, taxable sports betting revenue reached $3.2 million in August, an 18.5% increase from the previous year and 68.4% higher than July 2023.
According to the Mississippi Gaming Commission, total betting spending was $22.6 million, a 5.6% increase from 2023, resulting in a 14.1% retention for the state.
In summary, casinos led the way in sports betting revenue with $2.1 million, a 31.3% year-over-year increase. The betting volume at these casinos was US$13.7 million, resulting in a retention of 15.2% in August.
While the central casinos generated $566,774 in revenue, a 22.4% drop from the previous year, with a betting volume of $5.3 million and a retention of 10.7%.
Finally, revenue at upstate casinos increased 42.8% to $530,735, with wagering volume of $3.6 million and retention of 14.8%.