Bingo & Horse Racing Up While Nevada Casino Gambling Is Down

• Nevada is reporting a continued decline for 2020 in its casino gaming revenue for the month of September.
• Various gambling sectors are still on the low end in revenue but bingo and horseracing are showing growth for the industry with their profit margins.

LAS VEGAS – Revenue reports for September have been posted for Nevada casinos that show losses from a year-on-year comparison of September 2019 to September 2020 by the NGCB.

The state’s gaming industry has seen a steady loss in revenue over the last seven months when compared to 2019. While they are slowly increasing with each month since June when they reopened from the mandatory Coronavirus Pandemic closures, they are still down.

This is true except in horseracing and bingo where both areas have seen tremendous growth in activity.

The Nevada Gaming Control Board (NGCB) showed a combined casino revenue for September coming in at $821.1 million. That figure reveals a 22.4% loss next to September 2019 figures.

Although they are down from a year-on-year standpoint, they went up by $82 million from their August revenue numbers. These numbers show that the Nevada gaming industry is on the upswing, slow and steady, but still on the rise nonetheless.

The Breakdown

When broken down into areas of the state with legal gambling, the Las Vegas Strip took a huge hit with a decline of 39.1% from last year for the month. They closed out September with $354.7 million which was up from August at an increase of $38 million for month-to-month.

Numbers in other locations were also low, each on the decline, but also on the rise based on how it’s compared, either year-on-year or month-to-month.

Downtown was down 21.5% with $51.8 million while Reno went up 3% with $57.1 million and the Boulder Strip recorded an increase of 1.8% with $75.9 million.

But bingo and horseracing were up when the figures are broken down into games with slots and table games still not showing as much profit as they normally would. Horse race betting activity went up 22.7% bringing in a total of $3.25 million. Bingo was up $2 million for an increase of 27.5%.

The Future Of Nevada Casino Revenue

Gambling in Nevada is what the state thrives on. The revenue gained from the industry is the lifeblood that keeps the Silver State running.

While things are still down from 2019, they are on the upsurge, increasing more and more with each passing month since the outbreak of COVID-19. There is no doubt that Nevada’s interest in gambling will continue to rise and become what it once was or more.

When it inevitably does, the revenue and profits seen by the state will be proof of it.